EKL Standalone FY24 Profit up by 70.9% to ₹ 1,037.2 Crore Highest Ever
EKL Standalone FY24 Profit up by 70.9% to ₹ 1,037.2 Crore Highest Ever
- Tractor volumes at 95,858 units.
- Construction Equipment volumes up by 41.7% YoY to 6,548 units.
- Standalone EBIDTA up by 49.8% at ₹ 1,168.8 crore.
- Margin up by 396 bps to 13.3%
- Standalone Net Profit up by 70.9% to ₹ 1,037.2 crore highest ever.
- Margin up by 454 bps to 11.8%
- Board recommends final dividend of 180% at ₹ 18.0/- per share.
Faridabad, May 09, 2024: Escorts Kubota Limited today reported highest ever Standalone Net profit after tax at ₹ 1,037.2 Crore up by 70.9% YoY as against ₹ 607.0 crore in the previous year. Revenue from operations came at ₹ 8,776.7 crore up by 5.2% YoY as against ₹ 8,345.0 crore in the previous year. EBIDTA came at ₹ 1,168.8 crore, up by 49.8% YoY as against ₹ 780.4 crore in the previous year, led by softening in commodity price, better realization, operating leverage benefit and cost control measures. EPS reported at ₹ 92.79 as against ₹ 46.74 in the previous year.
For the quarter ended March 2024 standalone net profit came at ₹ 242.1 Crore up by 30.5% YoY as against ₹ 185.5 Crore in the previous year. Revenue from operations at ₹ 2,082.5 crore as against ₹ 2,183.0 crore in the previous year. EBIDTA at ₹ 265.9 Crore up by 12.8% YoY as against 235.8 Crore in the previous year.
CONSOLIDATED PERFORMANCE
For the year ended March 2024, consolidated net profit at ₹ 1,049.5 crore up by 64.8% YoY as against a profit of ₹ 636.6 crore in the previous year. Consolidated Revenue from operations at ₹ 8,849.6 crore, up by 5.0% YoY as against ₹ 8,428.7 crore in the previous year. Consolidated EBIDTA of ₹ 1,166.7 Crore up by 50.1% YoY as against ₹ 777.5 Crore in the previous year. EPS reported at ₹ 96.80 as against ₹ 58.85 in the previous year.
For the quarter ended March 2024, consolidated revenue from operations came at ₹ 2,093.5 crore
revenue from operations came at ₹ 2,093.5 crore as against ₹ 2,214.5 crore in the previous year. Consolidated profit after tax came at ₹ 251.9 crore up 16.4% YoY as against ₹ 216.5 Crore in the previous year.
SEGMENT WISE PERFORMANCE
Agri Machinery Products
For the year ended March 2024, tractor volume came at 95,858 units as against 1,03,290 units in the previous year. Segment revenue came at ₹ 6,110.1 crore as against ₹ 6,316.1 crore in the previous year. The EBIT margin for year ended March 2024 was up by 344 bps to 12.7% as against 9.3% in the previous year, driven by softening in commodity price, better realization and cost control measures.
For the quarter ended March 2024, Tractor volume came to 21,253 units as against 24,765 units in corresponding period of the previous year. Segment revenues came at ₹ 1,390.7 crore as against ₹ 1,557.5 crore in corresponding period of the previous year. The EBIT margin was up by 123 bps to 11.2% as against 9.9% in the corresponding period of the previous year.
Construction Equipment
For year ended March 2024, construction equipment volumes went up by 41.7% to 6,548 units as compared to 4,620 units in the previous year. Segment revenue went up by 45.0% to highest ever revenue of ₹ 1,709.7 crore in year ended March 2024 as against ₹ 1,179.0 crore in the previous year. The EBIT margin for year ended March 2024 was up at 9.3% as against 2.9% in the previous year, driven by higher volume, better product mix and better price discovery.
For the quarter ended March 2024, Construction equipment sales volume went up by 17.7% to 1,798 machines as against 1,528 machines in corresponding period of the previous year. Segment revenues went up by 23.8% at ₹ 476.6 crore in quarter ending March 2024 as against ₹ 384.8 crore in corresponding period of the previous year. EBIT margin was up by 264 bps to 10.7% as against 8.1% in corresponding period of the previous year.
Railway Products Division
For year ended March 2024, Segment revenue went up by 12.9% to ₹ 950.4 crore ever highest as against ₹ 841.9 crore in the previous year. The EBIT margin for year ended March 2024 was up by 510 bps to 18.9% as against 13.8% in the previous year.
For the quarter ended March 2024, Segment revenues came at ₹ 213.4 crore as against ₹ 237.2 crore in corresponding period of the previous year. EBIT margin went up by 290 bps to 16.9% as against 14.0% in corresponding period of the previous year.
Order book for the division, at end of March 2024, was approx. ₹ 950 crore.
The audited accounts for the fiscal year ended March 2024 have been approved by the Board of Directors of Escorts Kubota Limited.
