Speaking about the performance, Shashank Agarwal, Joint Managing Director, Salasar Techno Engineering Ltd. said, “The Q1 performance was very motivating as we have reported 59% yoy revenue growth supported by our steel structure business. However, the profitability was kept under check due to the sharp increase in raw material cost.
As the government is focusing on building a strong infrastructure, we expect the momentum to continue with better margins as the key raw material prices are softening up and higher contribution from export business. In the telecom space, with the bidding process completed under 5G spectrum, we anticipate to gain some major orders from the leading telecom operators, as we hold a leading share of approx. 50% under telecom tower solutions.”
Performance Highlights:
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Revenue from Operations registered a sharp growth of 58.6% YoY to Rs210.7 crore in Q1FY23 from Rs132.8 crore in Q1FY22
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Steel Structure business at Rs157.0 crores, grew by 80.5% YoY
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EPC business stood at Rs57.2 crore as compared to Rs58.9 crore in corresponding quarter last year
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EBITDA at Rs16.9 crore as compared to Rs14.7 crore in Q1FY22, a growth of 14.6% YoY
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EBITDA margin declined to 8.0% from 11.1% in Q1FY22 on account of increase in input cost and higher employee cost
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PAT at Rs7.3 crore during the quarter was in-line as compared Q1FY22
On Wednesday early morning trade, Salasar Techno Engineering Ltd was trading at Rs28.15 per share higher by 2.55% on the BSE.
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