Auto parts & equipment firm SJS Enterprises announced Q3FY23 results: Consolidated Q3FY23: Outperformed auto industry with 25.3% YoY growth in auto segment, compared to 3.9% YoY production volumes in 2W + PV segment Revenue at Rs 1,063.7 million, robust growth of 20.8% YoY EBITDA grew 25.3% YoY to Rs 284.0 million, Strong margin at 26.1% Adjusted net profit jumped 29.5% YoY to Rs 157.1 million, with margins at 14.8% Strong cash & cash equivalents position of Rs 1,431 million; debt-free company Added new customers – Foxconn in 2W EV segment and IFB Industries in Consumer Appliances Continued growing business with mega accounts by winning new orders from M&M;, Tata Motors, Toyota, Whirlpool, Electrolux and Royal Enfield Added sales representative in Columbia, thereby covering key markets of Latin America. Consolidated 9MFY23: Consistently maintaining ~25% growth, outpacing the industry Revenue at Rs 3,264.8 million, robust growth of 24.6% YoY EBITDA at Rs 896.0 million, a sturdy growth of 31.6% YoY, strong margin at 26.9%, Adjusted net profit rises to Rs 518.7 million, strong jump of 40.6% YoY, with a margin of 15.9%. Commenting on Company’s performance, KA Joseph, Managing Director, SJS Enterprises Limited, said, “It has been another good quarter for SJS. We are extremely positive on growth prospects for our business in the medium and long run, given the improved outlook for the automotive industry, especially with the expected recovery in 2W industry, premiumisation trends and positive customer response to futuristic technology development initiatives at SJS. We have a strong NPD team, who is working relentlessly to launch new products quickly, which will keep us ahead of the curve, helping us gain higher wallet share from our customers. We are very excited about our future products like cover glass, optical plastics, printed electronics, among others. With the addition of new products, it will help strengthen SJS’ position as a one-stop aesthetics solution provider in the automotive and consumer appliances segments. This will not only help widen our base of product offerings but also increase the total kit value of products that we offer to our customers.” Result PDF
Auto parts & equipment firm SJS Enterprises announced Q2FY23 results: Q2FY23 (consolidated): Revenue at Rs 1,169.4 million, robust growth of 17.3% YoY EBITDA grew 24.5% YoY to Rs 333.8 million, strong margin of 28.0% Net profit jumps 30.7% YoY to Rs 199.5 million, margins improved to 17.1% Strong cash & cash equivalents position of Rs 1,295.1 million; debt-free company H1FY23 (consolidated): Consistently maintaining ~25% growth, outpacing the industry Revenue at Rs 2,201.1 million, robust growth of 26.5% YoY EBITDA at Rs 612.0 million, a sturdy growth of 34.8% YoY, a strong margin at 27.2% Net Profit rises to Rs 361.6 million, a strong jump of 46.0% YoY with a margin of 16.4% KA Joseph, Managing Director, SJS Enterprises Ltd, said, “We are delighted with the Q2FY23 performance. We remained prudently positive and have been able to outperform the industry. This growth is on account of strong customer relationships and our customers derive immense value from our continued focus on quality and delivery excellence. The eight awards won by SJS during the quarter were a testament to the same. I am confident that, going forward, we will be able to further strengthen our customer relationships, develop new-generation products, expand our reach and achieve our guided financial growth." "It has been another good quarter. We are extremely positive about growth prospects for our business, given the improved outlook for the automotive industry, premiumisation trends and positive customer response to futuristic technology development initiatives at SJS. Despite near-term geo-political challenges in global markets, we remain cautiously optimistic about exports. However, we are confident of achieving ~25% revenue growth CAGR in the next couple of years, while maintaining best-in-class margins. Driving value through new products will be one of the key drivers for future growth. We are already working with OEMs for futuristic products like Illuminated logos and cover glass technology for automotive centre stack displays, etc. We are also gearing up for the future with advanced technology products like IME and smart surface technologies, which will enable a high growth trajectory for the Company," said Sanjay Thapar, Executive Director & CEO, SJS Enterprises Ltd. Result PDF
Auto Parts & Equipment firm SJS Enterprises announced Q1FY23 Result : Revenue at Rs 1,032 Mn, strong growth of 39% YoY EBITDA grew 50% YoY to Rs 278 Mn; Strong margin at 26.4%, expanded 170 bps YoY Net Profit jumps 71% YoY to Rs 162 Mn, margins improved 280 bps to 15.4% Forayed into new country, Argentina and expanded footprint in North America (Ohio) Added new customers – Alladio, a Mabe Group company (leading manufacturer of consumer appliances in Latin America). Also added EV manufacturers - Benling India, Gravton Motors and Navbharat Edison Motor Won several key projects from Whirlpool, Mahindra & Mahindra, Bajaj Auto, TVS, Maruti Suzuki and Samsung among others Exotech won its first business in the exports market by cross selling chrome plated parts to Whirlpool. Commenting on the Company’s performance, Mr. K. A. Joseph, Managing Director, SJS Enterprises Limited, said, "We are delighted with our performance which is in line with our expectations, despite the headwinds in the automobile sector and challenges arising out of rising input costs and other global supply chain issues. We remain cautiously optimistic and have been able to outpace the industry once again with our robust processes and strong operational performance. Looking ahead, we expect a strong growth for SJS across 2W, PV and Consumer Durables segments.” “We are confident of achieving ~25% revenue growth CAGR in the next couple of years organically, while maintaining our best-in-class margins. This organic growth would be on back of positive outlook of automobile industry and our organic growth strategy. We are in the process of acquiring a ~7.5 acres land at Pune to build a state-of-the-art chrome plating facility. We are also adding new customers and geographies in our portfolio. We added Alladio in Argentina and bagged orders from additional 2 plants of Whirlpool in North America. Our focus is on building mega accounts with our global customers like Continental, Marelli, Stellantis and Whirlpool among others. I am delighted to inform, that we have successfully won our first export order for Exotech’s chrome plated parts from Whirlpool. We believe we are well poised to achieve accelerated growth in the coming years,” added Mr. Sanjay Thapar, Executive Director & CEO, SJS Enterprises Limited. Result PDF
Auto Parts & Equipment firm SJS Enterprises declares Q4FY22 result: Q4FY22 (Consolidated): Revenues at Rs 1,041 Mn (13.4% QoQ growth), EBITDA Margins at 25.3%, PAT Margins at 14.6% Outperforms industry with 13.4% QoQ revenue growth, while industry production volumes of 2W and PV segment combined grew 2% QoQ PV and CD segments register growth of 20%+ QoQ Holds strong Cash position with over Rs 1009 Mn on Balance Sheet Wins several key projects from Continental, MG, Honda, Hyundai FY22 (Consolidated): FY22 Revenues at Rs 3,698.5 Mn (15.5% YoY growth), EBITDA Margin at 26.4%, PAT Margin at 14.7% Exports Revenue doubles from FY19 to FY22 to ~Rs 470 Mn Contribution of new-age products to revenues grows to 16% in FY22 from <3% in FY19 Diversification strategy pays rich dividends as share of PVs increase to 28.8% in FY22 from 10.2% in FY19 For the quarter under review, the Company’s consolidated revenues stood at Rs 1,041 Mn, a growth of 13.4% QoQ, compared to the 2% growth QoQ of the combined production volumes of Passenger. Commenting on the Company’s performance, Mr. K. A. Joseph, Managing Director, SJS Enterprises Limited, said, "Our performance is quite in line with our expectations, despite challenges in automobile sector and global supply chain issues related to semi conductor chips. We were able to overcome the challenges due to the strong foundation that we have laid in past so many years, be agile and introduce best in class new gen products so as to move ahead and become one of the preferential vendors for our customers. And, as the economic conditions improve, the picture for FY23 appears to be more optimistic than in the past two years. We believe that the only way to face the challenges is to accept the VUCA (Volatile, Uncertainty, Complex and Ambiguous) environment and be consistent in our approach across all aspects of business and operations.” “We are confident of achieving ~25% revenue CAGR over the next 3 years FY23-25 organically, while maintaining our best-in-class margins. This organic growth would be on back of positive outlook of automobile industry and our strategy of enhancing our chrome plating capacity, increasing presence in exports market and developing new age products and technologies while strengthening relations with existing customers and building mega accounts. Simultaneously we would also like to explore more business accretive M&A; opportunities that would help us grow over and above the organic growth of 25%,” added Mr. Sanjay Thapar, Executive Director & CEO, SJS Enterprises Limited. Result PDF
Auto Parts & Equipment company SJS Enterprises declares Q3FY22 result: Revenue for the quarter stood at Rs 917.9 million EBIDTA at Rs 264.3 Mn, maintained QoQ despite lower sales volume, on account of operational efficiencies; EBITDA margin of 28.8% - ~190 bps QoQ margin expansion Net Profit at Rs 149 Mn, on a margin of 16.2% - 91 bps QoQ margin expansion Outperformed the industry growth Strengthening our sales force in the international markets of Turkey, Brazil & Argentina Commenting on the industry and future outlook, Mr. K A Joseph, Managing Director of SJS Enterprises Limited, said, “The aesthetic industry continues to be attractive. SJS is well positioned to tap these growth opportunities, both in India and globally as witnessed with the new projects won in the current quarter. We remain committed and continue to invest in expanding our capabilities and capacities across our plants in Bangalore and Pune in line with the strong industry growth prospects.” Commenting on the financial results for the quarter ended December 31, 2021, Mr. Sanjay Thapar, Executive Director & CEO of SJS Enterprises Limited, said, “We are pleased with our performance in the quarter. What is especially noteworthy is that despite challenging market conditions during the quarter, SJS delivered a strong financial performance and superior EBITDA and PAT margins. Seeing the traction picking up from January 2022 onwards, we are confident to achieve our full year growth numbers and will outperform the industry growth” Result PDF