Industrial Products company M M Forgings announced FY24 results: During the year, revenue from operations grew by 9% at Rs 1,553 crore, as against Rs 1,430 crore recorded in FY23. Operating EBITDA for the first time crossed Rs 300 crore and stands at Rs 314 crore . against Rs 275 crore., thereby improving by 14% over the last year. PBT for F24 grew by 13% at Rs 199 crore as compared to Rs 176 crore reported during the previous year. PAT for the current year grew by 15% at Rs 145 crore as compared to Rs 126 crore reported during the year ended March 2023. The Domestic sales, during the year stands at Rs 948 crore and Export sales is at Rs 563 crore Export sales grew by 15% during FY24. In April 2024, the company completed 50 years of forging operations. To commemorate this golden jubilee year, the Company announces a 1:1 bonus issue of shares, subject to the approval of shareholders. This is the fourth bonus issue since going public. The earlier bonus issues were in the years 2005, 2008, and 2018. Further, to reward the shareholders on this occasion, the dividend is increased to Rs 8 per share. Founder S. E. Krishnan said, " MM FORGINGS LIMITED, a leading forging manufacturer in India, focuses on achieving customer satisfaction through quality, timely deliveries, andcompetitive pricing. As a one-stop shop for domestic and international customers, MMF prioritizes "Forging Excellence" in product quality and stakeholder relationships. As Chairman of MMF, I am excited to announce the company's 50thyear of Forging Excellence, highlighting its financial performance, capacity expansion, and value addition, as well as its operational excellence and board expansion. I express my gratitude to my colleagues, customers, suppliers, financial institutions, the state and central government, and shareholders for their support, acknowledging the achievement of this milestone through the grace of the Almighty and the blessings of my Guru." Result PDF
Conference Call with M M Forgings Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.