Shankara Building Products Ltd. News, Corporate filings and Earnings/Conference Calls

Iron & Steel Products company Shankara Building Products announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from operations grew by 14% YoY to Rs 1,377 crore EBITDA grew by 24% YoY to Rs 45 crore; EBITDA margin at 3.3% PAT grew by 27% YoY to Rs 24 crore Earnings per share stood at Rs 10.0, up by 19% YoY FY24 Financial Highlights: Highest-ever annual revenues at Rs 4,828 crore, grew by 20% YoY Steel Volume grew by 27% YoY Non-Steel Revenues grew by 30% YoY Retail Revenue grew by 14% YoY; average ticket size at Rs 51,959 (+17% YoY) EBITDA grew by 25% YoY to Rs 156 crore; EBITDA margin expanded by 12 bps to 3.2% Record PAT during the year at Rs 81 crore, up by 29% YoY Earnings per share stood at Rs 34.7, up by 26% YoY Working capital days continues to be around 30 days Net Debt levels reduced to Rs 49 crore, from Rs 71 crore in the previous year RoCE improved to 18%, compared to 15% in the previous year Commenting on the performance, Sukumar Srinivas, Managing Director, Shankara Building Products Ltd said: “FY24 marks a successful year for Shankara, showcasing the resilience of our business model. Amidst one of the most challenging periods for the building materials sector, I’m delighted to announce that we have achieved our highest-ever annual revenue and profits. Notably, our steel volume experienced a 27% growth, while the non-steel vertical saw a 30% growth, driven by market share gains across all subsegments. Our commitment to profitable growth has resulted in even stronger profit growth compared to our revenue, with an enhanced mix towards value-added steel and non-steel offerings. Fotia, in particular, has demonstrated exceptional progress with a 50% growth. Our efforts to diversify beyond South India have yielded fruitful results, with Western India contributing 11% to our revenue during the fiscal year. In line with our strategic objectives, we are in the process of demerging our building materials marketplace, a move aimed at streamlining our business structure and facilitate a focused capital allocation strategy under our new generation management. With a resilient foundation and strategic initiatives in place, we are poised for sustained growth in the coming years." Result PDF

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Shankara Building Products Ltd. News, Corporate filings and Earnings/Conference Calls

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