November 10, 2024

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Automotive rocks

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

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Pritika Auto lndustries Constrained, among main suppliers of tractor components in lndia has announced its audited effects for the quarter and year ended March 31, 2022. These financials are as per the IND AS accounting rules.

Financial Benefits Highlights for the quarter finished March 31, 2022:

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    Creation volumes for Q4 FY22 was at 5,885 tons, as from 10,123 tons in Q4 FY21, considering the fact that desire from the tractor marketplace witnessed a slowdown during this time period.
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    Net Income for the quarter was Rs57 crore in Q4 FY22, as in opposition to Rs79.63 crore in Q4 FY21, generally because of to lower volumes. Even so, realizations per ton improved by 23.12% yoy for the duration of the quarter.
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    EBITDA (excluding other money) was at Rs7.13 crore in Q4 FY22 as in opposition to Rs9 crore in Q4 FY21. lmproved operational efficiencies offset the affect of raw content selling price increase, top to larger EBITDA margin. EBITDA for each ton also enhanced 36.42%yoy
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    Earnings After Tax was Rs2.25 crore in Q4 FY22, though Standard EPS stood at Rs. .25
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Money Benefits Hiehtights for the full 12 months ended March 31, 2022:

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    Generation votumes for FY22 was at 32,353 tons, developing 3.68% YoY. This progress came in from a solid rebound in demand article the COVID associated lockdowns opened up, specifically in the to start with two quarters.
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    Web Income for the quarter was Rs271.23 crore in FY22, as versus Rs225.69 crore in FY21, primarily owing to greater volumes. Furthermore, realizations for every ton enhanced by 15.92% yoy for the duration of this period.
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    The EBITDA (excluding other income) was at Rs30.02 crore in FY22 as in opposition to Rs23,78 crore in FY21. Potent management on overheads offset theimpact of volatility in uncooked material rates, main to better EBITDA margin. EBITDA for each ton also improved 21.79%yoy.
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    Gain Right after Tax was Rs14.41 crore in FY22, a advancement of 145.45% yoy, when Essential EPS stood at Rs. 1.62
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Commenting on the final results, Raminder Singh Nibber, Chairman, Pritika Car lndustries Constrained reported, “Our total calendar year efficiency is in line with expectatians and demonstrates our sustained development. Even with sector uncertainties through this time period, we are witnessing a potent and sustainable buy reserve.

The previous year also confronted headwinds from continued impacts of the pandemic, particularly all through the second wave in the to start with quarter. Nevertheless, markets have continued to recover given that then, with the 3rd wave not staying as serious as the very first two.

The Compony is continuing on its advancement trajectory, dispIaying resiIience. ln FY22, we reported a 20.18% year-on-yeor growth in top rated 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 predominantly been driven by ongoing restoration write-up the COVID-slowdown and a strong restoration in demand from the tractor market, based on a nutritious agricultural season.

lnfact, we reported our best quorterly profits volume in Q2 FY22 at 10,723 tons. Our continuous attempts to enhance interior efficiencies and our item portfolio, demonstrates in our improving realizations and EBITDA per ton all through this quarter and whole year. Additionally, our very long-standing interactions with major OEMs, sturdy products portfolio and target on value addition enabled us to navigate by means of numerous current market conditions and cycles.

I would like to thank the total team of ‘Pritika’ for their dedication, primarily for the duration of these occasions. I would also like to thank all our valued stakeholders, whose assist and religion in our Business pushes us to attain better benchmarks.”

On Tuesday morning trade, Pritika Automobile Industries was investing at Rs15.35 for each piece reduce by .97% on the BSE.

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