Industrial Machinery company Kabra Extrusion Technik announced Q3FY23 results: Q3FY23: Operating Revenues at Rs 2,068 million in Q3FY23 as compared to Rs 1,054 million in Q3FY22 – registering growth of 96.3% YoY Extrusion Machinery revenues stood at Rs 878 million in Q3FY23 as compared to Rs 680 million in Q3FY22 - registering a growth of 29.2% YoY Battrixx revenues grew exponentially by 218.7% YoY to Rs 1,200 million in Q3FY23 EBITDA stood at Rs 221 million in Q3FY23 as compared to Rs 162 million in Q3FY22 – growing 36.3% YoY Profit After Tax was at Rs 115 million in Q3FY23 vs Rs 88 million in Q3FY22 – registering a strong growth of 30.8% YoY. EPS for Q3FY23 stood at Rs 3.28 as compared to Rs 2.75 in Q3FY22 9MFY23: Operating Revenues at Rs 4,920 million in 9MFY23 as compared to Rs 2,438 million in 9MFY22 – registering growth of 101.8 % YoY Revenue from Extrusion business grew by 10.1% YoY to Rs 2,159 million in 9MFY23 Battrixx revenues grew exponentially by 460.9% YoY to Rs 2,790 million in 9MFY23 EBITDA stood at Rs 507 million in 9MFY23 as compared to Rs 353 million in 9MFY22; up 43.9% YoY Profit After Tax was at Rs 251 million in 9MFY23 vs Rs 181 million in 9MFY22 EPS for 9MFY23 stood at Rs 7.18 as compared to Rs 5.67 in 9MFY22 Commenting on the performance, Managing Director of Kabra ExtrusionTechnik, Mr. Anand Kabra said, “Kabra ExtrusionTechnik’s operating revenue surged by 96.3% YoY to Rs 2,068 million in Q3FY23 aided by strong growth in the Battrixx division revenues. India’s Electric Vehicle (EV) industry surpassed 1-million-unit sales milestone in the Calendar Year 2022. The Battrixx sales continued to experience exponential growth of 218.7% YoY to Rs 1,200 million in Q3FY23 aided by voluntary EV adoption by individuals, B2B purchases by fleet operators, adoption of FAME II and increased charging infrastructure leading to improved EV penetration in India.” He also added, “The mandatory AIS 156 Phase I implementation from 1st December 2022 was a crucial move towards strengthening EV batteries quality backed by better design and high safety standards. Since inception, Battrixx adopted AIS 156 compliant battery packs, hence we could easily transition to the Government’s safety norms and fulfil OEMs demand. The stringent battery safety norms will act as an entry barrier strengthening the value proposition of the organized players.” Result PDF