Industrial Products company Ramkrishna Forgings announced Q3FY24 results: Financial Performance Highlights: Total Income: Ramkrishna Forgings reported a significant increase in total income, reaching Rs 90,288 lakh, a 20% YoY improvement. EBITDA: Earnings before interest, tax, depreciation, and amortization amounted to Rs 20,750 lakh, marking a substantial 25% growth from the previous year. EBITDA Margin: The margin for the quarter stood at 23.0%, a positive change of 90 basis points on a YoY basis. PAT (Profit After Tax): PAT escalated to Rs 8,226 lakh, with a YoY gain of 43%, with margins increasing by 140 basis points to 9.1%. Operational Highlights: Capacity Utilization: The company achieved a capacity utilization of 96% in Q3FY24, showing continued improvement from 88% in Q2FY24 and 86% in Q3FY23. Sales Volume: Q3FY24 sales volume increased by 35.6% YoY to 28,263 MT, and 9MFY24 sales volume rose by 22.8% to 76,277 MT. Domestic Market Revenue: Revenue in the domestic market surged by 32.3% in Q3FY24 to Rs 55,456 lakh, and the revenue over the nine months grew by 20.2% to Rs 150,825 lakh. Export Market Sales: In the export market, the sales volume in Q3FY24 rose by 6.2% YoY to 13,323 MT, and revenue for the quarter increased by 4.1% to Rs 34,047 lakh. Strategic and Corporate Developments: Fundraising Through QIP: The company successfully raised Rs 1,000 crore through its first-ever Qualified Institutional Placement (QIP). Acquisition Update: Received a written order from NCLT New Delhi approving the resolution plan for acquiring ACIL Limited. Commenting on the results Naresh Jalan, Managing Director, Ramkrishna Forgings, said: “During the quarter, the company registered a strong performance across segments & geographies, with YoY growth of 20% in revenues and 43% in profitability. EBITDA margins stood at 23% driven by operating leverage and a sharp focus on cost control. We are committed to maintaining a sound financial position. The success of our QIP of 1,000 crore further strengthens our financial foundation, providing additional resources for strategic initiatives. The recent approval by NCLT Delhi for the acquisition of ACIL Limited aligns with our strategies, positioning us for a healthy and robust expansion in the next phase. The commercial vehicle segment, especially post the festive season, has seen steady growth due to increased fleet utilization amid heightened economic and infrastructure activities. We expect this positive momentum to continue in the coming quarters. We're committed to global expansion, diversifying products, exploring high-margin niche products, and increasing productivity through automation. Despite potential global disruptions affecting demand, we remain optimistic about sustaining momentum, supported by strong cash flow. We appreciate the continued trust and support of our stakeholders in this exciting growth phase.” Result PDF