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
Conference Call with SJS Enterprises Management on the company's overall outlook. Listen to the full transcript.