Maithan Alloys logs 256% yoy growth in PAT at Rs818 crore in FY22; stock marginally up

1 Jun 2022 , 09:54 AM

Maithan Alloys Limited, India’s largest manganese alloys producer and exporter announced its Audited Financial Results for the quarter and fiscal year ended March 31, 2022.

The company posted revenue from operations of Rs2,992.50 crore in FY22 as compared to Rs1,619.80 crore in FY21, registering a growth of 85% yoy. For Q4FY22, it logged growth of 68% yoy at Rs837.10 crore as against Rs499.20 crore in the previous corresponding quarter.

Company’s manufacturing EBITDA for Q4FY22 stood at Rs302.80 crore as against Rs106.90 crore in Q4FY21. Its manufacturing EBITDA for FY22 was reported at Rs1,044.40 crore as against Rs286.70 crore in the previous financial year, registering a growth of 264% yoy.

PAT for the financial year ended March 31, 2022, was reported at Rs818 crore as against Rs230 crore in the previous financial year, up by 256% yoy. For Q4FY22, the company’s PAT jumped 186% yoy at Rs241.90 crore against Rs84.50 crore in the previous corresponding quarter.

The company’s board has approved the acquisition of the entire stake (i.e., 100% shareholding) in RREL as per the Resolution framework approved by the National Company Law Board/National Company Law Appellate Tribunal. The total cost of acquisition is Rs10 crore.

Maithan Alloys is currently trading at Rs999 up by Rs4.75 or 0.48% from its previous closing of Rs994.25 on the BSE. The scrip opened at Rs997.85 and has touched intraday high and low of Rs1,008.95 and Rs997.80 respectively.