Alicon Castalloy rallies over 5% after delivering resilient performance in Q1FY22

Profit after Tax at Rs(4.20)cr compared to Rs(43.99)cr.

Aug 06, 2021 01:08 IST India Infoline News Service

Alicon Castalloy
Alicon Castalloy Ltd (Alicon), one of the leading integrated manufacturers of aluminum castings in India has announced its financial results for the quarter ended June 30, 2021 on Friday.

Financial Performance Highlights:

Performance Review for Q1FY22 vs. Q1FY21
  • Total Income at Rs211.68cr compared to Rs53.66cr
  • EBITDA at Rs18.03cr compared to Rs(23.42)cr
  • PBT at Rs(3.22)cr as compared to Rs(44.73)cr
  • Profit after Tax at Rs(4.20)cr compared to Rs(43.99)cr
Performance Review for Q1FY22 vs. Q4FY21
  • Total Income at Rs211.68cr compared to Rs323.08cr
  • EBITDA at Rs18.03cr compared to Rs49.07cr
  • PBT at Rs(3.22)cr as compared to Rs27.60cr
  • Profit after Tax at Rs(4.20)cr compared to Rs25.33cr
Commenting on the performance, Rajeev Sikand, Group CEO, Alicon Castalloy said, “We have reported a resilient performance in the quarter despite challenges in the operating environment in India caused by the severe second wave. During this period, we witnessed subdued offtake by OEMs and other customers, which impacted our volumes, particularly in the months of April and May. However, as restrictions eased, there was a hint of a revival in June which has gained further traction in July. On the exports front, we reported a strong sustained growth led by continued demand in key geographies.

I am delighted to share that we have successfully concluded our fund raise aggregating to Rs80cr through a QIP in June. The fund raising exercise witnessed a high level of interest and has been 100% allotted to marquee Domestic Institutional Investors.

This was followed by a preferential issue aggregating Rs30cr to our promoters and our large, non-institutional investor in July. This capital will enable us to execute on our large order backlog with growth visibility spanning multiple yeaRsWe will also take the opportunity to reduce debt and strengthen the balance sheet further.

As we look ahead, the enquiry pipeline is robust and the global auto sector is poised for a growth revival after several challenging yeaRsEven as electric mobility is the preeminent growth driver for the industry at present, other opportunities for accretive growth are emerging. Overall, we remain future-ready and look forward to a positive fiscal ahead”

At around 1:31 PM, Alicon Castalloy was trading at Rs822.05 per piece up by Rs44.05 or 5.66% on Sensex.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity