Ramkrishna Forgings' standalone net profit jumped 142.9% to Rs 86.65 crore on a 31.9% rise in revenue from operations to Rs 683.24 crore in Q4 FY22 over Q4 FY21.
Profit before tax surged 44.2% to Rs 79.2 crore in Q4 FY22 over Q4 FY21. EBITDA soared 41.32% to Rs 152.15 crore in Q4 FY22 from Rs 107.66 crore in Q4 FY21. EBITDA margin improved to 22.27% in Q4 FY22 as against 20.79% in Q4 FY21.On full year basis, the company reported a sharp increase in standalone net profit to Rs 198.03 crore in FY22 as against a net profit of Rs 20.67 crore in FY21. Revenue from operations surged 80% year on year to Rs 2,320.25 crore in the financial year ended 31 March 2022
Commenting on the Q4 performance Naresh Jalan, managing director of Ramkrishna Forgings said, We have been able to improve our performance due to the addition of newer products and higher demand for our products led to improvement in better utilization of recently added capacities. We continue to win orders across segments and strengthen our geographical presence and we are confident that our performance will outpace the historical growth pace and expects growth in the range of 20-25% in topline for FY23.
The commercial vehicle segment, which accounts for most of our sales, is expected to grow primarily on account of increased economic activity. Also, with government's emphasis on infrastructure investment and increased demand for residential real estate projects, demand for commercial vehicles (CV) is expected to remain robust. This would have a positive rub off effect on as we have strengthened our relationships leading CV manufacturers across the globe. We are seeing strong demand for our products as we cement our presence in the Light Vehicle market. We will be able to strengthen our position in the Light Commercial Vehicle segment while also expanding our global market presence as a result of this.
Additionally, we have begun shipping product samples. This will enable us to add new products to our baskets and will open up a plethora of new opportunities for us in the future. With the commissioning of new facilities during the 1st half of the year, we are ready for our next phase of growth. We are well poised for newer opportunities in the automotive and non-automotive industries, as well as the electric vehicles (EV) space, which points to a solid future."
Meanwhile, the board declared a final dividend of Re 0.20 per equity share, subject to approval of the shareholders.
Shares of Ramkrishna Forgings were trading 1% lower at Rs 188.05 on the BSE. Ramkrishna Forgings is one of the leading suppliers of rolled, forged and machined products.
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