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

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Pritika Vehicle lndustries Restricted, among the major brands of tractor components in lndia has announced its audited outcomes for the quarter and year finished March 31, 2022. These financials are as for every the IND AS accounting rules.

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

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    Output volumes for Q4 FY22 was at 5,885 tons, as from 10,123 tons in Q4 FY21, given that demand from customers from the tractor current market witnessed a slowdown for the duration of this interval.
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    Internet Profits for the quarter was Rs57 crore in Q4 FY22, as in opposition to Rs79.63 crore in Q4 FY21, largely due to reduced volumes. On the other hand, realizations per ton enhanced 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 from Rs9 crore in Q4 FY21. lmproved operational efficiencies offset the impact of raw materials selling price increase, main to increased EBITDA margin. EBITDA for each ton also enhanced 36.42%yoy
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    Gain Right after Tax was Rs2.25 crore in Q4 FY22, although Simple EPS stood at Rs. .25
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Fiscal Results Hiehtights for the total year finished March 31, 2022:

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    Creation votumes for FY22 was at 32,353 tons, increasing 3.68% YoY. This expansion arrived in from a potent rebound in need publish the COVID similar lockdowns opened up, especially in the 1st two quarters.
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    Internet Profits for the quarter was Rs271.23 crore in FY22, as versus Rs225.69 crore in FY21, primarily because of to better volumes. Also, realizations for every ton enhanced by 15.92% yoy during this period.
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    The EBITDA (excluding other earnings) was at Rs30.02 crore in FY22 as against Rs23,78 crore in FY21. Strong manage on overheads offset theimpact of volatility in uncooked material prices, main to better EBITDA margin. EBITDA per ton also enhanced 21.79%yoy.
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    Profit Right after Tax was Rs14.41 crore in FY22, a development of 145.45% yoy, when Simple EPS stood at Rs. 1.62
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Commenting on the final results, Raminder Singh Nibber, Chairman, Pritika Car lndustries Restricted stated, “Our whole calendar year efficiency is in line with expectatians and demonstrates our sustained growth. Even with current market uncertainties during this interval, we are witnessing a solid and sustainable get ebook.

The earlier yr also confronted headwinds from ongoing impacts of the pandemic, specially through the next wave in the first quarter. Nevertheless, markets have ongoing to recuperate since then, with the third wave not staying as critical as the initial two.

The Compony is continuing on its growth trajectory, dispIaying resiIience. ln FY22, we described a 20.18% year-on-yeor advancement 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 largely been pushed by continued restoration write-up the COVID-slowdown and a sturdy recovery in need from the tractor marketplace, primarily based on a wholesome agricultural season.

lnfact, we described our maximum quorterly sales quantity in Q2 FY22 at 10,723 tons. Our continuous endeavours to strengthen interior efficiencies and our solution portfolio, demonstrates in our enhancing realizations and EBITDA per ton throughout this quarter and complete 12 months. Additionally, our very long-standing associations with major OEMs, sturdy product or service portfolio and target on benefit addition enabled us to navigate by various market place situations and cycles.

I would like to thank the total team of ‘Pritika’ for their dedication, specifically for the duration of these types of moments. I would also like to thank all our valued stakeholders, whose assist and religion in our Company pushes us to obtain better benchmarks.”

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

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