Maithan Alloys clocks 80% y-o-y growth in Q1FY23 Revenue at Rs1,020.30 crore

18 Aug 2022 , 09:15 AM

Maithan Alloys Limited, India’s largest manganese alloys producer and exporter announced its Unaudited Financial Results for the Quarter ended June 30, 2022.

Company’s total revenue from operations stood at Rs1,020.30 crore in Q1FY23 as compared to Rs565.60 crore in Q1FY22, up by 80% on a y-o-y basis. While sequentially, revenue jumped by 22%.

It reported a 152% jump in operating EBITDA of Rs355.60 crore in Q1FY23 as compared to Rs141.10 crore in Q1FY22. On a Q-o-Q basis, EBITDA jumped by 14%.

Manufacturing EBITDA margin came in at 37.10% in Q1FY23 as against 28.60% in Q1FY22.

Company reported a PBT of Rs370.20 crore in Q1FY23, up by 152% yoy against Rs147.29 crore in Q1FY22. While PBT for last quarter was reported at Rs316.60 crore, registering a growth of 17% sequentially.

Recently, Maithan Ferrous Pvt. Ltd. (MFPL), a subsidiary of Maithan Alloys Limited, submitted a proposal to the Ministry of Environment, Forest, and Climate Change for the installation of a Ferro Alloy Plant with 4×16.5 MVA Submerged Arc Furnaces, as well as a Sinter and Briquette Plant in District Bankura, West Bengal (MoEF&CC). It received clearance on August 11, 2022.

At around 9.18 AM, Maithan Alloys was trading at Rs1,032.30 up by 0.68% from its previous closing of Rs1,025.35 on the BSE.