July 1, 2022

excel-Auto

Matchless Automotive

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

Pritika Car lndustries Restricted, between main makers of tractor factors in lndia has declared its audited benefits for the quarter and yr finished March 31, 2022. These financials are as for every the IND AS accounting rules.

Monetary Success Highlights for the quarter finished March 31, 2022:

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    Output volumes for Q4 FY22 was at 5,885 tons, as in opposition to 10,123 tons in Q4 FY21, since demand from the tractor marketplace witnessed a slowdown for the duration of this period of time.
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    Net Earnings for the quarter was Rs57 crore in Q4 FY22, as against Rs79.63 crore in Q4 FY21, mostly because of to lessen volumes. Nevertheless, realizations per ton enhanced by 23.12% yoy in the course of the quarter.
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    EBITDA (excluding other profits) was at Rs7.13 crore in Q4 FY22 as in opposition to Rs9 crore in Q4 FY21. lmproved operational efficiencies offset the affect of raw product cost increase, main to larger EBITDA margin. EBITDA for every ton also improved 36.42%yoy
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    Earnings Following Tax was Rs2.25 crore in Q4 FY22, whilst Basic EPS stood at Rs. .25
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Monetary Outcomes Hiehtights for the comprehensive yr ended March 31, 2022:

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    Generation votumes for FY22 was at 32,353 tons, escalating 3.68% YoY. This progress came in from a strong rebound in desire publish the COVID connected lockdowns opened up, in particular in the 1st two quarters.
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    Web Profits for the quarter was Rs271.23 crore in FY22, as towards Rs225.69 crore in FY21, predominantly owing to increased volumes. Moreover, realizations for each ton enhanced by 15.92% yoy throughout this period of time.
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    The EBITDA (excluding other profits) was at Rs30.02 crore in FY22 as towards Rs23,78 crore in FY21. Solid management on overheads offset theimpact of volatility in raw product rates, major to improved EBITDA margin. EBITDA per ton also improved 21.79%yoy.
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    Income Following Tax was Rs14.41 crore in FY22, a expansion of 145.45% yoy, even though Simple EPS stood at Rs. 1.62
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Commenting on the success, Raminder Singh Nibber, Chairman, Pritika Automobile lndustries Confined claimed, “Our comprehensive yr functionality is in line with expectatians and reflects our sustained growth. Regardless of sector uncertainties throughout this period, we are witnessing a sturdy and sustainable buy ebook.

The past calendar year also faced headwinds from ongoing impacts of the pandemic, primarily all through the 2nd wave in the to start with quarter. On the other hand, markets have continued to recover due to the fact then, with the third wave not staying as extreme as the initially two.

The Compony is continuing on its expansion trajectory, dispIaying resiIience. ln FY22, we documented a 20.18% yr-on-yeor progress 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 generally been pushed by continued recovery submit the COVID-slowdown and a robust recovery in demand from the tractor marketplace, primarily based on a wholesome agricultural season.

lnfact, we reported our best quorterly income volume in Q2 FY22 at 10,723 tons. Our continuous endeavours to boost inside efficiencies and our product or service portfolio, displays in our improving realizations and EBITDA for each ton for the duration of this quarter and full calendar year. Moreover, our long-standing associations with top OEMs, solid products portfolio and emphasis on price addition enabled us to navigate by way of many current market circumstances and cycles.

I would like to thank the overall team of ‘Pritika’ for their dedication, primarily for the duration of these types of periods. I would also like to thank all our valued stakeholders, whose aid and faith in our Business pushes us to achieve increased benchmarks.”

On Tuesday early morning trade, Pritika Auto Industries was trading at Rs15.35 for every piece lower by .97% on the BSE.