Iron & Steel products company Jai Balaji Industries announced Q4FY24 & FY24 results: Financial Highlights: Total income grew by 15% YoY to Rs 2,002 crore in Q4FY24. For the full year FY24, total income grew by 8% YoY to Rs 6,629 crore. EBIDTA stood at Rs 397 crore in Q4FY24 with an EBIDTA margin of 20%. During the year FY24, EBIDTA was at Rs 1,121 crore with an EBIDTA margin of 17%. PAT of Rs 273 crore in Q4FY24 and Rs 880 crore in FY24 Aditya Jajodia, Chairman and Managing Director “Jai Balaji Industries Itd. has experienced a transformative year marked by substantial growth, driven by strong performance and a significant increase in sales for value-added products. I am happy to report that we have achieved an impressive EBITDA of Rs 1,121 crore and a PAT of Rs 880 crore this year. Going forward, we focus on increasing our share in value added products which shall further improve margins. Our strategic focus remains on specialized products such as DI Pipes and Special-grade Ferro Alloys, which presently contributes to around 50% percent to our revenue and the increase in sales will help in achieving higher growth in forth coming quarters. We take pride in being India’s largest recognized producer of special-grade Ferro Alloys wherein substantial share comes from exports. Our company has been contributing to the ambitious projects of the government namely Jal Jeevan Mission and AMRUT by actively providing supplies of DI pipes and its also enhancing its capacities which will help in contributing to the initiatives taken by the govt .for nation building and by providing safe drinking water to all. Looking ahead, we are committed to achieving further success through cost-effective capacity enhancement, cost cutting measures, leveraging economies of scale, operational efficiencies, and aiming to become net debt-free within the next fifteen months.” Result PDF
Iron & Steel/Intermediate products company Jai Balaji Industries announced Q3FY24 & 9MFY24 results: Quarterly Financial Performance (Q3FY24): - Revenue: Jai Balaji Industries reported a marginal increase in revenues from operations in Q3FY24, reaching Rs 1,538.99 crore, which represents a 0.13% growth over Q3FY23, which stood at Rs 1,536.95 crore. - EBITDA: The company achieved its highest-ever quarterly EBITDA of Rs 246.80 crore in Q3FY24, marking a substantial increase of 250.57% from Rs 70.40 crore in the same quarter of the previous year. - Profit After Tax (PAT): PAT saw a rise to Rs 234.60 crore in Q3FY24 compared to Rs 27.91 crore in Q3FY23, which is an increase of 740.56%. Nine Months Financial Highlights (9MFY24): - Revenue: For the 9 months ofFY24, revenue from operations was Rs 4,568.18 crore, a 3.80% improvement from Rs 4,401.06 crore in 9MFY23. - EBITDA: The EBITDA saw an impressive YoY growth of 245.15%, climbing to Rs 665.46 crore from Rs 192.80 crore. - PAT: PAT increased by 755.42%, reaching Rs 606.58 crore up from Rs 70.91 crore for the same period of the previous fiscal year. Strategic Developments and Goals: - The company highlighted its agreements and refinancing initiatives such as securing a loan of Rs 559 crore to refinance existing debts. - JBIL announced its goal to become a net debt-free company and declared a capex plan of around Rs.1,000 crore for the next 15-18 months, intended for capacity enhancement and the advancement of value-added products. Aditya Jajodia, Chairman and Managing Director, said, “Jai Balaji Industries has come a long way to achieve such strong results today. I am happy to share that we have achieved an EBITDA of Rs 246.80 crore and PAT of Rs 234.60 crore during this quarter. The company faced tough challenges in the last few years which have been resolved with the commitment, hard work, faith, and resilience of the management and stakeholders. Jai Balaji 2.0 aims to transition into a high-margin business, and we plan to achieve the same by lowest cost capex for capacity enhancement, economies of scale, operational efficiencies, and becoming net debt-free in the next 18 Months and focusing on specialized products like DI Pipes and special-grade Ferro Alloys. The turnaround of the company is a story of resilience and strategic transformation, turning setbacks into opportunities and reshaping its trajectory for sustained success. Going forward, we at Jai Balaji Industries are confident that our revised vision and strategies will lead to strong performances ahead.” Result PDF
Conference Call with Jai Balaji Industries Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.