Industrial Machinery company Kabra Extrusion Technik announced Q2FY24 & H1FY24 results:
- Q2FY24:
- Revenue of Rs 1,824 million in Q2FY24 compared to Rs 1,800 million in Q2FY23
- EBITA of Rs Rs 115 million in Q2FY24 compared to Rs 180 million in Q2FY23
- PAT of Rs 56 million in Q2FY24 compared to Rs 95 million in Q2FY23
- H1FY24:
- Operating Revenues at Rs 3,160 million in H1FY24 as compared to Rs 2,852 million in H1FY23 – registering growth of 10.8% YoY
- Extrusion Machinery revenues stood at Rs 1,516 million in H1FY24 as compared to Rs 1,281 million in H1FY23 - registering a growth of 18.3% YoY
- Battrixx revenues grew by 5.7% YoY to Rs 1,680 million in H1FY24
- EBITDA stood at Rs 240 million in H1FY24
- Profit After Tax stood at Rs 114 million in H1FY24
- EPS for H1FY24 stood at Rs 3.26 as compared to Rs 3.90 in H1FY23
- Operating Revenues at Rs 3,160 million in H1FY24 as compared to Rs 2,852 million in H1FY23 – registering growth of 10.8% YoY
Commenting on the performance, Anand Kabra, Managing Director of Kabra Extrusion Technik said, “Kabra Extrusion Technik’s operating revenues surged by 10.8% YoY to Rs 3,160 million in H1FY24 aided by overall growth from both Extrusion Machinery and Battrixx business. The E-2-Wheelers sales remained muted owing to the decline of FAME subsidy and regulatory changes which temporarily hindered the E-2-Wheelers adoption and sales momentum. However, the long-term outlook of the EV industry remains positive.”
He also added, “The E-2-Wheeler industry is at an inflection point with improving consumer sentiments during the ongoing festive season backed by new launches by the OEMs. The Company is actively engaging with E-3-Wheelers and E-LCVs OEMs for accomplishing their desired high-voltage battery pack expectations and anticipates to foray into those segments by the end of FY24.”