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
Elecon Engineering Company announced Q4FY22 results: Standalone FY22: Total Operating income was Rs. 884.4 Crores for FY22 as compared to Rs. 796.4 Crores in FY21 EBITDA stood at Rs. 184.2 Crores for FY22 as compared to Rs. 144.1 Crores during the corresponding period of previous year EBITDA Margin at 20.8% for FY22 as against 18.1% in FY21 Profit Before Tax stood at Rs. 123.6 Crores for FY22 as compared to Rs. 58.3 Crores in FY21, reflecting an increase of 112.1% Net Profit stood at Rs. 95.5 Crores for FY22 as compared to Rs. 36.3 Crores in FY21, reflecting an increase of 163.4% Total Debt of the Company is reduced to Rs. 100.02 Crores as at March 31, 2022 compared to Rs. 225.29 Crores as at March 31, 2021. Consolidated FY22: Total Operating income was Rs. 1203.6 Crores for FY22 as compared to Rs. 1,044.7 Crores in FY21 EBITDA stood at Rs. 246.4 Crores for FY22 as compared to Rs. 185.6 Crores during the corresponding period of previous year EBITDA Margin at 20.5% for FY22 as against 17.8% in FY21 Profit Before Tax stood at Rs. 170.5 Crores for FY22 as compared to Rs. 81.3 Crores in FY21, reflecting an increase of 109.8% Net Profit stood at Rs. 140.5 Crores for FY22 as compared to Rs. 57.6 Crores in FY21, reflecting an increase of 143.8% Debt in overseas entity is paid off during the year. Standalone Q4FY22: Total Operating income was Rs. 245.8 Crores for Q4FY22 as compared to Rs. 273.5 Crores in the corresponding period of the previous year. EBITDA stood at Rs. 50.7 Crores as compared to Rs. 57.8 Crores during the corresponding period of previous year. EBITDA Margin at 20.6% for Q4FY22 as against 21.1% in Q4FY21 Profit Before Tax stood at Rs. 39.3 Crores for Q4FY22 as compared to Rs. 37.2 Crores in the corresponding period of the previous year Net Profit stood at Rs. 33.5 Crores for Q4FY22 as compared to Rs. 22.4 Crores in the corresponding period of the previous year Consolidated Q4FY22: Total Operating income was Rs. 329.7 Crores for Q4FY22 as compared to Rs. 350.1 Crores in the corresponding period of the previous year. EBITDA stood at Rs. 68.5 Crores as compared to Rs. 73.5 Crores during the corresponding period of previous year. EBITDA Margin at 20.8% for Q4FY22 as against 21.0% in Q4FY21 Profit Before Tax stood at Rs. 53.8 Crores for Q4FY22 as compared to Rs. 47.1 Crores in the corresponding period of the previous year Net Profit stood at Rs. 46.3 Crores for Q4FY22 as compared to Rs. 31.6 Crores in the corresponding period of the previous year. Commenting on the Company’s performance, Mr. Prayasvin Patel, CMD said “We are pleased to announce robust set of performance amid improving external environment and continual improvements in internal efficiency. The Gears segment continues to perform well on the back of strong demand environment leading to healthy order inflow from our end user industries which bodes well for the gears division. In the MHE division, performance is substantially improved post change in the business strategy. The Company has made a good progress on recovery and also closure of few legacy projects. As such we expect significant turnaround in the MHE division going forward due to our strategic business approach and focusing on profitability and liquidity.” Result PDF