Pritika Auto net revenue increases 20% yoy to Rs271 crore on account of higher sales volume

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Pritika Automobile lndustries Constrained, amongst leading brands of tractor components in lndia has announced its audited success for the quarter and year finished March 31, 2022. These financials are as for every the IND AS accounting rules.

Money Effects Highlights for the quarter ended March 31, 2022:

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    Output volumes for Q4 FY22 was at 5,885 tons, as versus 10,123 tons in Q4 FY21, since desire from the tractor marketplace witnessed a slowdown throughout this period.
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    Internet Earnings for the quarter was Rs57 crore in Q4 FY22, as versus Rs79.63 crore in Q4 FY21, mostly due to lessen volumes. Even so, realizations per ton enhanced by 23.12% yoy throughout the quarter.
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    EBITDA (excluding other money) was at Rs7.13 crore in Q4 FY22 as against Rs9 crore in Q4 FY21. lmproved operational efficiencies offset the affect of uncooked material price tag increase, leading to higher EBITDA margin. EBITDA per ton also improved 36.42%yoy
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    Earnings Immediately after Tax was Rs2.25 crore in Q4 FY22, even though Fundamental EPS stood at Rs. .25
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Money Results Hiehtights for the entire yr finished March 31, 2022:

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    Production votumes for FY22 was at 32,353 tons, rising 3.68% YoY. This progress arrived in from a solid rebound in demand from customers write-up the COVID relevant lockdowns opened up, primarily in the 1st two quarters.
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    Internet Earnings for the quarter was Rs271.23 crore in FY22, as versus Rs225.69 crore in FY21, mainly owing to increased volumes. Additionally, realizations for each ton improved by 15.92% yoy in the course of this period.
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    The EBITDA (excluding other money) was at Rs30.02 crore in FY22 as towards Rs23,78 crore in FY21. Solid control on overheads offset theimpact of volatility in uncooked material rates, major to much better EBITDA margin. EBITDA per ton also improved 21.79%yoy.
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    Earnings Just after Tax was Rs14.41 crore in FY22, a progress of 145.45% yoy, although Primary EPS stood at Rs. 1.62
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Commenting on the success, Raminder Singh Nibber, Chairman, Pritika Vehicle lndustries Limited stated, “Our comprehensive 12 months effectiveness is in line with expectatians and reflects our sustained growth. Even with sector uncertainties through this time period, we are witnessing a solid and sustainable get guide.

The past yr also confronted headwinds from ongoing impacts of the pandemic, in particular through the 2nd wave in the initial quarter. However, markets have ongoing to get well considering the fact that then, with the third wave not currently being as intense as the first two.

The Compony is continuing on its growth trajectory, dispIaying resiIience. ln FY22, we claimed a 20.18% yr-on-yeor development in prime line at Rs271.23 crore. Our EBITDA and PAT also grew 26.26% and 145.45% yoy to Rs30.02 crore and Rs14.41 crore, respectively. This has mainly been pushed by ongoing restoration write-up the COVID-slowdown and a strong restoration in demand from customers from the tractor field, primarily based on a healthy agricultural season.

lnfact, we reported our best quorterly gross sales quantity in Q2 FY22 at 10,723 tons. Our constant attempts to improve interior efficiencies and our solution portfolio, demonstrates in our increasing realizations and EBITDA per ton during this quarter and full year. Furthermore, our extended-standing associations with main OEMs, potent merchandise portfolio and concentrate on benefit addition enabled us to navigate via various market conditions and cycles.

I would like to thank the total team of ‘Pritika’ for their determination, primarily through this sort of instances. I would also like to thank all our valued stakeholders, whose support and faith in our Business pushes us to attain increased benchmarks.”

On Tuesday early morning trade, Pritika Vehicle Industries was trading at Rs15.35 per piece decrease by .97% on the BSE.

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