Rajoo Engineers Q2 revenue surges to Rs37cr led by increased demand

Company currently operating on 70% utilisation – reflection of growing confidence and increasing demand.

November 16, 2021 9:16 IST | India Infoline News Service
Rajoo Engineers Limited has announced its unaudited financial results for the second quarter and half year ended September 30, 2021. These financials are as per the IND AS accounting guidelines.

Key Highlights:
  • Q2 FY22 Revenue from operations at Rs37.01cr, yoy growth of 26%
  • Q2 FY22 EBIDTA (excluding Other Income) at Rs5.20cr, yoy growth of 25%
  • Q2 FY22 EBIDTA Margin (excluding Other Income) at 14.05%
  • Q2 FY22 Net Profit at Rs3.35cr, yoy increase of 42%
  • Q2 FY22 Net Profit Margin at 9.04%, a yoy increase of 98 basis points
  • Q2 FY22 Basic EPS at Rs0.54, yoy growth of 42%
Commenting on the Company’s performance, R. N. Doshi, Chairman, Rajoo Engineers Ltd said: “During the second quarter we registered a 26.22% year-on-year rise in revenue at Rs37.01cr. EBITDA and PAT grew 25.1% and 41.6% to Rs5.20cr and Rs3.35cr, respectively.

The rise in revenue is primarily due to the last year’s Q2 being severely impacted by the lockdown. This quarter we have witnessed higher number of machines dispatched both for the domesticy as well as export markets. This reflects an increased consumer confidence in the overall market. Despite rise in raw material prices and higher employee costs due to performance appraisals, we have managed to maintain EBITDA margins and improve PAT margins.

During the previous quarter, we extended our help to the families of our deceased employees affected from Covid 19. The distress faced by the entire world has forced all of us to take a step back and reevaluate our way of doing business and we have used this slowdown as an opportunity to frame new strategies and develop new products that will ensure sustainable progress in the coming years.

In July 2021, we hosted an open house event along with Kohli Industries to showcase the new Lamex 360 line at our customer Balaji’s facility in Rajkot. We are being appreciated by stalwarts in this business for the ‘appropriate technologies’ approach to consistently help customer’s business rather than following standard solutions.

Going into the third quarter, we are witnessing gradual recovery in the market after the impact of the second wave of the pandemic. Despite speculation of a third wave, the general consumer sentiment in India and overseas markets seems good.

I would like to thank each member of the Rajoo family, as well as our Clients, Creditors, Banks, Financial Institutions, and all other StakeholdeRsTheir faith in us and support extended makes it easier for us to strive and excel.”

On Tuesday morning trade, Rajoo Engineers was trading at Rs24.80 per piece lower by 1% on the BSE.

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