June 23, 2024

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

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Pritika Vehicle lndustries Confined, amongst top companies of tractor components in lndia has announced its audited benefits for the quarter and year finished March 31, 2022. These financials are as for every the IND AS accounting recommendations.

Economical Effects Highlights for the quarter finished March 31, 2022:

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    Creation volumes for Q4 FY22 was at 5,885 tons, as in opposition to 10,123 tons in Q4 FY21, given that need from the tractor market place witnessed a slowdown during this period.
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    Net Profits for the quarter was Rs57 crore in Q4 FY22, as towards Rs79.63 crore in Q4 FY21, predominantly thanks to lessen volumes. Having said that, realizations per ton enhanced by 23.12% yoy all through the quarter.
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    EBITDA (excluding other money) was at Rs7.13 crore in Q4 FY22 as versus Rs9 crore in Q4 FY21. lmproved operational efficiencies offset the effect of uncooked substance price tag rise, leading to better EBITDA margin. EBITDA for every ton also improved 36.42%yoy
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    Profit Soon after Tax was Rs2.25 crore in Q4 FY22, though Fundamental EPS stood at Rs. .25
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Fiscal Final results Hiehtights for the whole calendar year ended March 31, 2022:

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    Manufacturing votumes for FY22 was at 32,353 tons, increasing 3.68% YoY. This progress came in from a solid rebound in need put up the COVID linked lockdowns opened up, specifically in the initial two quarters.
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    Internet Income for the quarter was Rs271.23 crore in FY22, as towards Rs225.69 crore in FY21, mostly because of to increased volumes. Furthermore, realizations per ton enhanced by 15.92% yoy during this period.
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    The EBITDA (excluding other money) was at Rs30.02 crore in FY22 as in opposition to Rs23,78 crore in FY21. Robust handle on overheads offset theimpact of volatility in uncooked substance prices, foremost to improved EBITDA margin. EBITDA for every ton also improved 21.79%yoy.
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    Gain Soon after Tax was Rs14.41 crore in FY22, a growth of 145.45% yoy, though Simple EPS stood at Rs. 1.62
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Commenting on the success, Raminder Singh Nibber, Chairman, Pritika Automobile lndustries Minimal said, “Our entire yr general performance is in line with expectatians and demonstrates our sustained expansion. Inspite of market place uncertainties throughout this period of time, we are witnessing a strong and sustainable order book.

The earlier year also faced headwinds from continued impacts of the pandemic, primarily during the next wave in the to start with quarter. On the other hand, markets have continued to recover considering that then, with the 3rd wave not getting as extreme as the initial two.

The Compony is continuing on its progress trajectory, dispIaying resiIience. ln FY22, we documented a 20.18% calendar year-on-yeor development in best line at Rs271.23 crore. Our EBITDA and PAT also grew 26.26% and 145.45% yoy to Rs30.02 crore and Rs14.41 crore, respectively. This has generally been pushed by continued recovery publish the COVID-slowdown and a robust restoration in demand from the tractor field, centered on a wholesome agricultural year.

lnfact, we noted our optimum quorterly gross sales quantity in Q2 FY22 at 10,723 tons. Our steady attempts to enhance interior efficiencies and our product portfolio, reflects in our strengthening realizations and EBITDA for each ton during this quarter and full calendar year. Furthermore, our extended-standing associations with major OEMs, powerful product portfolio and concentration on value addition enabled us to navigate by way of different market problems and cycles.

I would like to thank the complete staff of ‘Pritika’ for their dedication, specifically all through these types of moments. I would also like to thank all our valued stakeholders, whose assist and religion in our Organization pushes us to accomplish better benchmarks.”

On Tuesday early morning trade, Pritika Car Industries was buying and selling at Rs15.35 for every piece decreased by .97% on the BSE.

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