June 20, 2024

Hawickroyalalbert

The ideal Automotive

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

Pritika Automobile lndustries Limited, amongst main makers of tractor components in lndia has declared its audited benefits for the quarter and year finished March 31, 2022. These financials are as for every the IND AS accounting guidelines.

Economical Outcomes Highlights for the quarter finished March 31, 2022:

    &#13

  • &#13
    Production 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 sector witnessed a slowdown during this period.
  • &#13

  • &#13
    Net Earnings for the quarter was Rs57 crore in Q4 FY22, as from Rs79.63 crore in Q4 FY21, primarily because of to reduce volumes. Nevertheless, realizations per ton improved by 23.12% yoy in the course of the quarter.
  • &#13

  • &#13
    EBITDA (excluding other profits) was at Rs7.13 crore in Q4 FY22 as against Rs9 crore in Q4 FY21. lmproved operational efficiencies offset the effect of uncooked substance price tag increase, leading to greater EBITDA margin. EBITDA for each ton also enhanced 36.42%yoy
  • &#13

  • &#13
    Earnings Just after Tax was Rs2.25 crore in Q4 FY22, while Standard EPS stood at Rs. .25
  • &#13

&#13
Economic Outcomes Hiehtights for the full yr ended March 31, 2022:

    &#13

  • &#13
    Output votumes for FY22 was at 32,353 tons, escalating 3.68% YoY. This growth arrived in from a robust rebound in need put up the COVID associated lockdowns opened up, in particular in the first two quarters.
  • &#13

  • &#13
    Internet Revenue for the quarter was Rs271.23 crore in FY22, as towards Rs225.69 crore in FY21, generally due to higher volumes. Moreover, realizations per ton improved by 15.92% yoy throughout this interval.
  • &#13

  • &#13
    The EBITDA (excluding other profits) was at Rs30.02 crore in FY22 as versus Rs23,78 crore in FY21. Sturdy control on overheads offset theimpact of volatility in uncooked substance prices, foremost to better EBITDA margin. EBITDA for every ton also improved 21.79%yoy.
  • &#13

  • &#13
    Financial gain After Tax was Rs14.41 crore in FY22, a advancement of 145.45% yoy, even though Essential EPS stood at Rs. 1.62
  • &#13

Commenting on the results, Raminder Singh Nibber, Chairman, Pritika Automobile lndustries Confined mentioned, “Our complete year effectiveness is in line with expectatians and reflects our sustained development. Despite industry uncertainties through this time period, we are witnessing a robust and sustainable get book.

The previous calendar year also confronted headwinds from ongoing impacts of the pandemic, especially during the next wave in the 1st quarter. Even so, markets have ongoing to get well because then, with the third wave not remaining as intense as the 1st two.

The Compony is continuing on its growth trajectory, dispIaying resiIience. ln FY22, we noted a 20.18% 12 months-on-yeor expansion 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 generally been pushed by ongoing recovery submit the COVID-slowdown and a robust recovery in demand from the tractor marketplace, centered on a healthy agricultural time.

lnfact, we described our optimum quorterly product sales volume in Q2 FY22 at 10,723 tons. Our continuous initiatives to make improvements to internal efficiencies and our products portfolio, demonstrates in our bettering realizations and EBITDA for each ton for the duration of this quarter and comprehensive 12 months. Also, our long-standing relationships with top OEMs, robust products portfolio and concentration on worth addition enabled us to navigate via a variety of industry situations and cycles.

I would like to thank the entire crew of ‘Pritika’ for their commitment, especially throughout such instances. I would also like to thank all our valued stakeholders, whose support and religion in our Business pushes us to attain better benchmarks.”

On Tuesday early morning trade, Pritika Vehicle Industries was investing at Rs15.35 per piece lower by .97% on the BSE.