Industrial machinery company Elecon Engineering announced Q2FY23 results: Standalone Q2FY23: Total Operating income was Rs. 305.0 crore for Q2FY23 as compared to Rs. 238.8 crore in the corresponding period of the previous year, an increase of 27.7% YoY EBITDA stood at Rs. 75.2 crore as compared to Rs. 50.9 crore Q2FY22, an increase of 47.6%. EBITDA Margin at 24.6% for Q2FY23 as against 21.3% in Q2FY22 Profit Before Tax stood at Rs. 65.2 crore for Q2FY23 as compared to Rs. 32.0 crore in the corresponding period of the previous year, an increase of 103.5% YoY Net Profit stood at Rs. 47.6 crore for Q2FY23 as compared to Rs. 23.1 crore in the corresponding period of the previous year, an increase of 106.1% YoY. Standalone H1FY23: Total Operating income was Rs. 562.2 crore for H1FY23 as compared to Rs. 459.8 crore in the corresponding period of the previous year, an increase of 22.3% YoY EBITDA stood at Rs. 130.2 crore for H1FY23 as compared to Rs. 101.0 crore during the corresponding period of the previous year, an increase of 28.9% YoY EBITDA Margin at 23.1% for H1FY23 as against 22.0% in H1FY22 Net Profit stood at Rs. 80.6 crore for H1FY23 as compared to Rs. 46.2 crore in the corresponding period of the previous year, an increase of 74.2% YoY Consolidated Q2FY23: Total Operating income was Rs. 388.6 crore for Q2FY23 as compared to Rs. 314.0 crore in Q2FY22, an increase of 23.7% YoY. EBITDA increased by 38.9% YoY to Rs. 92.6 crore compared to Rs. 66.7 crore in Q2FY22. EBITDA Margin at 23.8% for Q2FY23 as against 21.2% in Q2FY22 Profit Before Tax increased by 87.1% YoY to Rs. 83.2 crore for Q2FY23 as compared to Rs. 44.5 crore in Q2FY22. Net Profit increased by 82.3% YoY to Rs. 64.5 crore for Q2FY23 as compared to Rs. 35.4 crore in Q2FY22. Consolidated H1FY23: Total Operating income was Rs. 716.3 crore for H1FY23 as compared to Rs. 608.2 crore in the corresponding period of the previous year, an increase of 17.8% YoY. EBITDA stood at Rs.157.5 crore for H1FY23 as compared to Rs. 125.5 crore during the corresponding period of the previous year, an increase of 25.4% YoY EBITDA Margin at 22.0% for H1FY23 as against 20.6% in H1FY22 Net Profit stood at Rs. 106.8 crore for H1FY23 as compared to Rs. 62.6 crore in the corresponding period of the previous year, an increase of 70.5% YoY Result PDF
Industrial Machinery company Elecon Engineering Company Announced Q1FY23 Result : Standalone Q1FY23 review: Total Operating income was Rs. 257.2 Crores for Q1FY23 as compared to Rs. 221.0 Crores in the corresponding period of the previous year, an increase of 16.4% YoY EBITDA stood at Rs. 55.0 Crores as compared to Rs. 50.0 Crores in Q1FY22, an increase of 9.8%. EBITDA Margin at 21.4% for Q1FY23 as against 22.6% in Q1FY22 Profit Before Tax stood at Rs. 43.9 Crores for Q1FY23 as compared to Rs. 30.9 Crores in the corresponding period of the previous year, an increase of 42.0% YoY Net Profit stood at Rs. 32.9 Crores for Q1FY23 as compared to Rs. 23.1 Crores in the corresponding period of the previous year, an increase of 42.4% YoY Consolidated Q1FY23 review: Total Operating income was Rs. 327.7 Crores for Q1FY23 as compared to Rs. 294.2 Crores in Q1FY22, an increase of 11.4% YoY. EBITDA increased by 10.2% YoY to Rs. 64.9 Crores as compared to Rs. 58.9 Crores in Q1FY22. EBITDA Margin at 19.8% for Q1FY23 as against 20.0% in Q1FY22. Profit Before Tax increased by 52.3% YoY to Rs. 53.6 Crores for Q1FY23 as compared to Rs. 35.2 Crores in Q1FY22. Net Profit stood increased by 54.9% YoY to Rs. 42.3 Crores for Q1FY23 as compared to Rs. 27.3 Crores in Q1FY22. The Company has become net debt free as on 30th June’22. Commenting on the Company’s performance, Mr. Prayasvin Patel, CMD said “We are pleased to report strong performance in the quarter on the back of improved demand in our end user industries, better product mix, cost rationalization initiatives as well as improvement in overall operational efficiency. The Gears segment continues to witness sustained order inflow from end-user industries like steel, sugar, cement and power. Led by our unwavering focus, there has been a significant turnaround in the MHE division which have become profitable and moreover we have managed to significantly bring down Receivables and considerably improved the return ratios. Moreover, I am delighted to inform that we have become net debt free on a consolidate level as on 30th June’22. We are confident that the performance will continue to improve in the future as we continue to work towards enhancing shareholders value" Result PDF