Salzer Electronics reports revenue of Rs211.83cr; Stock skids over 5%

8 Feb 2022 , 01:36 PM

Salzer Electronics Limited reported net sales at Rs 211.83 crore in December 2021, up by 24.28% YoY, against Rs. 170.44 crore in December 2020. Revenue for the 9M period ended December 2021 stood at Rs 555.61 crore as against Rs 415.93 crore for the corresponding 9M period, up by 33.58% YoY.

Salzer electronics shed 5.52% so far in today’s trade at Rs 204.60 against its previous closing price of Rs 216.55. It has touched the day’s low of Rs 199.50 so far and is hinting at a downward trend so far.

Company’s quarterly Net Profit stood at Rs. 7.25 crore in December 2021, as compared to Rs. 6.41 crore in December 2020, recording a growth of 13.06% YoY. PAT for the 9M period ended December 2021 stood at Rs 18.67 crore as compared to Rs 13.68 crore for 9M Q3 FY’21, reporting growth of 36.49% YoY.

EBITDA stands at Rs. 18.56 crore in December 2021 against Rs. 17.52 crore in the previous corresponding quarter, up by 5.94% YoY. Its EBITDA for the 9M period ended December 2021 stood at Rs 50.90 crore as against Rs 45.62 crore for the 9M ended December 2020, surging 11.57% YoY.

EBITDA margin for the quarter narrowed by 181 bps at 9.16% against 10.97% for the previous corresponding quarter. PAT margin reported at 3.36% against earlier 3.29%.

Revenue growth from a revival in demand for wire harness and three-phase transformers, offsetting the COVID-19 impact in the first quarter. Contribution to revenue from exports was 20% in FY21, with 24.6% YoY growth in export revenue, mainly on account of higher exports to American markets. Margins impacted by the rise in raw material prices, which are gradually being passed on to customers