Remsons Industries consolidated revenues at Rs207.86 crore in 9MFY22, up 37.71% yoy; Stock up 1%

18 Feb 2022 , 09:25 AM

Remsons Industries Limited reported consolidated total income at Rs80.52 crore in the quarter ended December 31, 2021, of FY22 compared to Rs82.61 crore during the same quarter last year. Gross Profit stood at Rs27.44 crore viz-a-viz Rs30.17 crore. EBITDA was flat at Rs6.13 crore, compared to Rs6.12 crore up by 0.17%.

Profit Before Tax (PBT) in Q3FY22 stood at Rs3 crore as compared to Rs3.72 crore in Q3FY21. Profit after tax stood at Rs1.92 crore as compared to Rs2.65 crore. EPS at Rs.3.36 compared to Rs4.64 per share.

During 9MFY22, total consolidated income increased to Rs207.86 crore vs Rs150.95 crore, up by 37.71%. Gross Profit at Rs74.56 crore viz-a-viz Rs49.37 crore up by 51.03%. EBITDA increased to Rs12.95 crore, compared to Rs7.26 crore up by 78.31%. PBT stood at Rs3.51 crore up by 49.70% when compared to Rs2.34 crore. Profit after tax stood at Rs2.43 crore as compared to Rs1.64 crore, up by 47.61%. EPS at Rs4.25 compared to Rs2.88 per share, up by 47.61%.

Standalone total income for Q3FY22 stood at Rs64.92 crore compared to Rs60.95 crore in Q3FY21, up by 6.52%. Gross Profit at Rs.20.65 crore, compared to Rs21.52 crore. EBITDA at Rs5.70 crore compared to Rs5.53 crore, up by 3.17%. PBT stood at Rs3.05 crore as compared to Rs3.71 crore. Profit after Tax stood at Rs2 crore in Q3FY22 compared to Rs2.77 crore in Q3FY21. EPS stood at Rs3.51 compared to Rs4.84 per share.

Total standalone income during 9MFY22 stood grew to Rs161.96 crore compared to Rs136.39 crore, up by 18.75%. Gross Profit stood at Rs51.53 crore, up by 26.54% compared to Rs40.72 crore. EBITDA increased to Rs9.87 crore compared to Rs6.67 crore, up by 47.96%. PBT stood at Rs2.66 crore as compared to Rs.2.34 crore, higher by 13.75%. Profit after Tax stood at Rs1.64 crore compared to Rs1.76 crore. EPS stood at Rs2.88 compared to Rs3.08 per share.

During early trade on Friday, Remsons Industries Ltd was trading at Rs211 per share up by Rs2.5 or 1.2% from its previous closing of Rs208.50 per share on the BSE.

Rahul Kejriwal, Director & CFO, Remsons Industries Ltd. said, “Remsons continues to consolidate its position as a consistent supplier to OEMs. This has led to incremental growth in Q3FY22 despite several external factors in play which have pushed the OEMs to produce at sub-optimal level. The company’s topline continues to grow qoq basis when the domestic Automobile industry is at a decade low on back of tepid demand.

Our Standalone revenues were up by 6.52% qoq basis whereas our consolidated revenues were up by 7.34% on qoq basis. Our margins continue to remain impacted due to high input prices coupled with semi-conductor issues prevailing across the globe.”

He added, “During this quarter, Remsons underwent a complete rebranding of its logo that represents the re-energized resolve of the management to pitchfork Remsons into a new orbit of growth. This fresh new energy will lead teams to work towards our larger goal of “LET’S MAKE GREAT”.

Remsons is an Indian automotive component manufacturer having 4 manufacturing plants in India, 1 in the UK, 2 sales offices in Europe & 1 Sales office in USA. The Company is a supplier to major OEM’s like Maruti Suzuki, Hero Motocorp, Ashok Leyland, TATA Motors, Mahindra etc. from India. The UK plant supplies to global OEM’s like Ford Motor Co., Jaguar Land Rover, Daimler, Aston Martin, Volvo, INEOS Automotive, etc.