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Pritika Auto net revenue increases 20% yoy to Rs271 crore on account of higher sales volume

Pritika Auto lndustries Limited, amongst main producers of tractor elements in lndia has introduced its audited outcomes for the quarter and yr ended March 31, 2022. These financials are as per the IND AS accounting pointers.

Monetary Outcomes Highlights for the quarter ended March 31, 2022:

  • Manufacturing volumes for This fall FY22 was at 5,885 tons, as towards 10,123 tons in This fall FY21, since demand from the tractor market witnessed a slowdown throughout this era.

  • Web Income for the quarter was Rs57 crore in This fall FY22, as towards Rs79.63 crore in This fall FY21, primarily as a consequence of decrease volumes. Nevertheless, realizations per ton improved by 23.12% yoy throughout the quarter.

  • EBITDA (excluding different earnings) was at Rs7.13 crore in This fall FY22 as towards Rs9 crore in This fall FY21. lmproved operational efficiencies offset the affect of uncooked materials worth rise, resulting in larger EBITDA margin. EBITDA per ton additionally improved 36.42percentyoy

  • Revenue After Tax was Rs2.25 crore in This fall FY22, whereas Fundamental EPS stood at Rs. 0.25

Monetary Outcomes Hiehtights for the complete yr ended March 31, 2022:

  • Manufacturing votumes for FY22 was at 32,353 tons, rising 3.68% YoY. This development got here in from a powerful rebound in demand publish the COVID associated lockdowns opened up, particularly within the first two quarters.

  • Web Income for the quarter was Rs271.23 crore in FY22, as towards Rs225.69 crore in FY21, primarily as a consequence of larger volumes. Furthermore, realizations per ton improved by 15.92% yoy throughout this era.

  • The EBITDA (excluding different earnings) was at Rs30.02 crore in FY22 as towards Rs23,78 crore in FY21. Sturdy management on overheads offset theimpact of volatility in uncooked materials costs, main to raised EBITDA margin. EBITDA per ton additionally improved 21.79percentyoy.

  • Revenue After Tax was Rs14.41 crore in FY22, a development of 145.45% yoy, whereas Fundamental EPS stood at Rs. 1.62
Commenting on the outcomes, Raminder Singh Nibber, Chairman, Pritika Auto lndustries Restricted mentioned, “Our full yr efficiency is in step with expectatians and displays our sustained development. Regardless of market uncertainties throughout this era, we’re witnessing a powerful and sustainable order ebook.

The previous yr additionally confronted headwinds from continued impacts of the pandemic, particularly throughout the second wave within the first quarter. Nevertheless, markets have continued to recuperate since then, with the third wave not being as extreme as the primary two.

The Compony is constant on its development trajectory, dispIaying resiIience. ln FY22, we reported a 20.18% year-on-yeor development in high line at Rs271.23 crore. Our EBITDA and PAT additionally grew 26.26% and 145.45% yoy to Rs30.02 crore and Rs14.41 crore, respectively. This has primarily been pushed by continued restoration publish the COVID-slowdown and a strong restoration in demand from the tractor trade, based mostly on a wholesome agricultural season.

lnfact, we reported our highest quorterly gross sales quantity in Q2 FY22 at 10,723 tons. Our steady efforts to enhance inner efficiencies and our product portfolio, displays in our bettering realizations and EBITDA per ton throughout this quarter and full yr. Furthermore, our long-standing relationships with main OEMs, robust product portfolio and give attention to worth addition enabled us to navigate via varied market situations and cycles.

I want to thank the whole workforce of ‘Pritika’ for his or her dedication, particularly throughout such occasions. I’d additionally prefer to thank all our valued stakeholders, whose assist and religion in our Firm pushes us to realize larger benchmarks.”

On Tuesday morning commerce, Pritika Auto Industries was buying and selling at Rs15.35 per piece decrease by 0.97% on the BSE.

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