Iron & Steel Products company Kirloskar Ferrous Industries announced Q4FY24 results: Standalone Financial Highlights: Operating revenue at Rs 994.4 crore for Q4FY24 vs Rs 991.0 crore for Q4FY23; at same level YoY EBITDA at Rs 96.9 crore for Q4FY24 vs Rs 158.0 crore for Q4FY23; 39% decrease YoY EBITDA margin at 10% for Q4FY24 vs 16% Q4FY23 PBT at Rs 43.8 crore for Q4FY24 vs Rs 110.2 crore for Q4FY23; 60% decrease YoY PAT at Rs 34.1 crore for Q4FY24 vs Rs 81.9 crore for Q4FY23; 58% decrease YoY Consolidated Financial Highlights: Operating revenue at Rs 1,535.9 crore for Q4FY24 vs Rs 1,565.6 crore for Q4FY23; 2% decrease YoY EBITDA at Rs 165.1 crore for Q4FY24 vs Rs 221.0 crore for Q4FY23; 25% decrease YoY EBITDA margin at 11% for Q4FY24 vs 14% Q4FY23 PBT (before exceptional Item) at Rs 62.6 crore for Q4FY24 vs Rs 159.0 crore for Q4FY23; 61% decrease YoY PAT at Rs 17.7 crore for Q4FY24 vs Rs 94.6 crore for Q4FY23; 81% decrease YoY Commenting on the Q4 and FY 2024 results, R. V. Gumaste, Managing Director, KFIL, said "This quarter has been challenging for KFIL due to demand-side issues. The subdued demand from the tractor industry impacted casting sales volumes, and pressure on pig iron margins affected the results. However, we are seeing early signs of revival, both in pig iron prices and tractor casting demand. All of our projects are progressing as planned, with many nearing completion. We expect to start seeing returns from these projects soon." Result PDF
Iron & Steel/Intermediate Products company Kirloskar Ferrous Industries announced Q2FY24 results: Consolidated Q2FY24: Operating revenue at Rs 1,559.7 crore for Q2FY24 vs Rs 1,502.5 crore for Q1FY24; 4% increase QoQ EBITDA at Rs 252.3 crore for Q2FY24 vs Rs 207.4 crore for Q1FY24; 22% increase QoQ EBITDA margin at 16% for Q2FY24 vs 14% for Q1FY24 PBT (before exceptional Item) at Rs 169.8 crore for Q2FY24 vs Rs 135.9 crore for Q1FY24; 25% increase QoQ PAT at Rs 81.7 crore for Q2FY24 vs Rs 92.9 crore in Q1FY24; 12% decrease QoQ Standalone Q2FY24: Operating revenue at Rs 879.8 crore for Q2FY24 vs Rs 926.5 crore for Q1FY24; 5% decrease QoQ EBITDA at Rs 132.7 crore for Q2FY24 vs Rs 127 crore for Q1FY24; 5% increase QoQ EBITDA margin at 15% for Q2FY24 vs 14% Q1FY24 PBT at Rs 75.9 crore for Q2FY24 vs Rs 71.3 crore for Q1FY24; 7% increase QoQ PAT at Rs 56.9 crore for Q2FY24 vs Rs 53.8 crore for Q1FY24; 6% increase QoQ Commenting on the Q2FY24 results, R.V.Gumaste, Managing Director, KFIL, said, “This has been a challenging quarter especially due to the pressure of high input commodities prices. All our planned shutdowns are done now, and we expect normalized production capacities for the second half of the year. Casting demand for commercial vehicles and off-highway vehicles continued strong, however, demand from the tractor industry was subdued. During the quarter we completed the acquisition of Oliver Engineering and we have taken management control as of 29th September 2023.” Result PDF