Breaking News

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


Pritika Vehicle lndustries Minimal, among leading producers of tractor elements in lndia has introduced its audited benefits for the quarter and 12 months ended March 31, 2022. These financials are as for every the IND AS accounting guidelines.

Economical Final results Highlights for the quarter ended March 31, 2022:

    &#13

  • &#13
    Output volumes for Q4 FY22 was at 5,885 tons, as towards 10,123 tons in Q4 FY21, considering that demand from customers from the tractor industry witnessed a slowdown during this period of time.
  • &#13

  • &#13
    Net Profits for the quarter was Rs57 crore in Q4 FY22, as versus Rs79.63 crore in Q4 FY21, mostly thanks to reduced volumes. Nevertheless, realizations for every ton improved by 23.12% yoy through the quarter.
  • &#13

  • &#13
    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 effects of raw product price rise, main to increased EBITDA margin. EBITDA per ton also improved 36.42%yoy
  • &#13

  • &#13
    Profit Following Tax was Rs2.25 crore in Q4 FY22, while Essential EPS stood at Rs. .25
  • &#13

&#13
Monetary Results Hiehtights for the comprehensive 12 months finished March 31, 2022:

    &#13

  • &#13
    Manufacturing votumes for FY22 was at 32,353 tons, escalating 3.68% YoY. This expansion arrived in from a powerful rebound in desire submit the COVID relevant lockdowns opened up, in particular in the very first two quarters.
  • &#13

  • &#13
    Internet Revenue for the quarter was Rs271.23 crore in FY22, as in opposition to Rs225.69 crore in FY21, largely due to better volumes. Additionally, realizations for each ton enhanced by 15.92% yoy throughout this period.
  • &#13

  • &#13
    The EBITDA (excluding other money) was at Rs30.02 crore in FY22 as versus Rs23,78 crore in FY21. Strong regulate on overheads offset theimpact of volatility in uncooked product selling prices, foremost to far better EBITDA margin. EBITDA per ton also enhanced 21.79%yoy.
  • &#13

  • &#13
    Financial gain Just after Tax was Rs14.41 crore in FY22, a advancement of 145.45% yoy, whilst Fundamental EPS stood at Rs. 1.62
  • &#13

Commenting on the success, Raminder Singh Nibber, Chairman, Pritika Auto lndustries Constrained explained, “Our full yr performance is in line with expectatians and demonstrates our sustained development. Despite industry uncertainties all through this interval, we are witnessing a robust and sustainable order e-book.

The earlier 12 months also faced headwinds from ongoing impacts of the pandemic, particularly throughout the 2nd wave in the initial quarter. Nonetheless, marketplaces have ongoing to get well because then, with the third wave not getting as significant as the initial two.

The Compony is continuing on its progress trajectory, dispIaying resiIience. ln FY22, we documented a 20.18% yr-on-yeor expansion in major 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 mostly been driven by continued recovery post the COVID-slowdown and a strong restoration in demand from the tractor field, based mostly on a nutritious agricultural year.

lnfact, we described our greatest quorterly sales quantity in Q2 FY22 at 10,723 tons. Our continual initiatives to strengthen interior efficiencies and our merchandise portfolio, displays in our increasing realizations and EBITDA for each ton during this quarter and whole year. Also, our extended-standing associations with foremost OEMs, potent item portfolio and aim on price addition enabled us to navigate by way of many industry disorders and cycles.

I would like to thank the full team of ‘Pritika’ for their determination, specifically during this sort of moments. I would also like to thank all our valued stakeholders, whose assistance and faith in our Business pushes us to attain bigger benchmarks.”

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



Source link