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NSE Aug 18, 2022 12:44 PM
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Rapid Results Alerts
SJS Enterprises Ltd.    
05 Aug 2022

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.

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