Salasar Techno Engineering consolidated net profit rises 22.64% in the Q2 FY21 quarter
The company has delivered a strong performance during the quarter with a revenue of Rs 200.2 Crores and EBITDA of Rs 21.5 Crores which is 10.7% of the revenue
New Delhi, November 1, 2021: Salasar Techno Engineering – one of the largest steel fabrication and infrastructure companies in India has reported a 22.64% rise in its consolidated net profit to Rs. 10.2 crore in the quarter ended September 2021 as against Rs 8.17 crore during the previous quarter ended September 2020.
The company has posted Revenue from Operations at Rs. 200.2 crore in Q2 FY22, as against Rs. 147.6 crore in Q2 FY21, registering a growth of 35.7% Y-o-Y. This growth has been on account of timely execution of orders across segments and normalisation of pandemic led restriction and economic revival.
Commenting on the company’s financial performance, Mr. Shashank Agarwal- M.D of Salasar Techno said, “I am pleased to inform you that the company has delivered a strong performance during the quarter with a revenue of Rs 200.2 Crores and EBITDA of Rs 21.5 Crores which is 10.7% of the revenue. The operations of the company are back to normal post the Covid disruptions, which is reflected in the results. The stellar performance was driven by contribution from each of our business segments along with our approach to diversify and enter newer segments. All our business verticals offer significant headroom for growth and operating leverage as they scale up. Railways’ electrification continues to remain a key growth segment and focus area for us. Further our new vertical of Heavy Steel Structure Division has gained impetus with a steady flow of orders along with increasing our customer base with reputed brands.”
Sales rose 35.68% to Rs 200.19 crore in the quarter ended September 2021 as against Rs 147.55 crore during the previous quarter ended September 2020
Additionally, Profit After Tax was at Rs. 10.0 crore in Q2 FY22 as against Rs. 8.2 crore in Q2 FY21, Y-o-Y growth of 22.6%. PAT margin stood at 5.0% in Q2 FY22. Basic EPS stood at Rs. 3.51.
During the period under review the operations of the company are back to normal and there is no COVID impact now. EPC work is being carried out without any hindrance. Telecom companies have again started to execute their capex plans for installation of new towers for 4G and forthcoming 5G, and the recent Telecom package announced by Govt of India for Telecom sector has boosted the overall sentiments of the industry.
“Considering robust inflow of monthly orders, we expect a strong financial performance of the company in the upcoming quarters. Additionally, our strategic roadmap will help us grow consistently and profitably going forward,” he added.
Manufacturing projects the Heavy Steel Structure Division of the company started its operations and as on date, the Company is having unexecuted orders of worth 61 Crores in hand and is in negotiation with some leading customers for supply of structures.