Rajratan Global Wire PAT rises 122.5% yoy to Rs32.7cr in Q3FY22

20 Jan 2022 , 12:01 PM

Rajratan Global Wire Ltd stocks in focus on Thursday after the company has declared its financial results for Q3 and 9M FY22.

Key performance highlights for the quarter Q3FY22 (Consolidated):

• Net sales for the quarter stood at Rs221.8cr up 39.3% yoy
• EBITDA for the quarter stood at Rs47.3cr up 80.8% yoy
• EBITDA Margin for the quarter stood at 21.34% up 489 bps vs 16.45% in Q3FY21
• Net Profit stood at Rs32.7cr up 122.5% yoy
• EPS stood at Rs32.27 up 122.5% yoy vs Rs14.51 in Q3FY21

Commenting on the performance Sunil Chordia, Chairman & Managing Director said, "This quarter performance has continued to build up on the momentum of our efforts to grow with sustainable profits. This has led to our nine-month performance surpassing annual performances of all previous years.

We continue to see robust demand for our products in India and Thailand, which has led us to expand our capacity in Thailand by 50% to 60,000 TPA and to work towards setting up a new greenfield capacity in Chennai for an additional 60,000 TPA. Tyre demand continues to be good in domestic and international markets; all major tyre companies are looking to expand capacities in India. We have also continued to focus on improving our overall ESG scores and production efficiencies in both our India and Thailand plants.We continue to “Outperform” and work as a team to deliver value to our shareholders.”

The Board of Directors are further scheduled to meet on January 28, 2022 to consider subdivision (split) of equity shares of the company.

At around 11:28 AM, Rajratan Global Wire was trading at Rs2,719.90 per piece up by Rs11.5 or 0.42% on Sensex.