Suprajit Engineering reported 15.4% decline in consolidated net profit to Rs 48.64 crore in Q4 FY22 as against a net profit of Rs 57.51 crore in Q4 FY21.
Consolidated net sales fell 1.4% to Rs 505.92 crore in Q4 FY22 over Q4 FY21. Profit before tax declined 15.4% year on year to Rs 65 crore in the quarter ended 31 March 2022. Total expenses fell marginally by 0.4% to Rs 429.36 crore in Q4 FY22 from Rs 431.27 crore in Q4 FY21.The company's operating EBITDA fell 6.3% to Rs 76.56 crore in Q4 FY22 from Rs 81.7 crore in Q4 FY21. EBITDA margin slipped to 15.1% in Q4 FY22 from 15.9% in Q4 FY21.
The auto ancillary company said that the chip shortage, both in India and globally, continued in Q4 FY22, disrupting production volumes across all the segments. The overall automotive volumes were at a multiyear low this year largely due to poor demand in the two-wheeler segment in India. The commodity prices continued to increase during the quarter, the company said in press release.
The firm anticipates receiving certain price increases from the customers during the current and coming quarters, with a lag effect. Ukraine war added additional uncertainty, further affecting production volumes in the European Union. The company further said capex for the current year, in India, is estimated at Rs 140 crore.
On full year basis, the auto ancillary company reported a 21.3% rise in net profit to Rs 173.08 crore on a 12.2% increase in net sales to Rs 1,840.48 crore in FY22 over FY21.
Also Read
The board recommended a final dividend of Rs 1.10 per equity share for the financial year ended 31 March 2022.
Suprajit Engineering is India's largest automotive cable and halogen bulb maker with an annual global capacity of 300 million cables and 110 million halogen bulbs. The company's customer list includes most Indian automotive majors. It also exports to many marquee global customers.
Shares of Suprajit Engineering were trading 1.22% higher at Rs 330.55 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
