Remsons Industries Ltd has announced robust financial results for the fourth quarter and financial year ended March 31, 2024 reporting significant growth across key performance indicators. EBITDA for the quarter stood at INR 8 crore, a 3% growth from INR 7.8 crore in the previous year. The most notable achievement was the Profit After Tax (PAT) which doubled to INR 5.2 crore from INR 2.6 crore registering a 100% year-on-year growth.
For the full fiscal year 2024, the company reported revenues of INR 312.3 crore, maintaining a stable performance compared to INR 312.8 crore in FY23. EBITDA for the year was INR 31.2 crore, reflecting a 20% increase from INR 26 crore in FY23. The annual PAT showed a substantial growth of 59%, rising to INR 13.3 crore from INR 8.4 crore.
Remsons Industries has been proactive in expanding its business and forging strategic partnerships. The company acquired a 55% stake in the newly incorporated Remsons-Uni Autonics Private Limited. Additionally, it formed a 50:50 joint venture with Daiichi Infotainment System, creating Daiichi Remsons Electronics Pvt Ltd, which will offer advanced automotive solutions like infotainment systems.
Remsons also entered into a joint venture with the Aircom Group to manufacture and sell tyre puncture kits and components for automobiles. The company also successfully completed fundraise of INR 63 crore to meet long-term capital requirements, support new acquisitions, joint ventures, and repay unsecured loans.
Business Metrics
Revenue: Q4FY24: INR 81.00 crore (up 6.02% YoY), FY24: INR 312.30 crore
EBITDA: Q4FY24: INR 8.00 crore (up 3% YoY), FY24: INR 31.20 crore (up 20% YoY)
Profit After Tax: Q4FY24: INR 5.20 crore (up 100% YoY), FY24: INR 13.30 crore (up 59% YoY)
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