Mumbai (Maharashtra) [India], June 1: Krishca Strapping Solutions Limited (NSE Code: KRISHCA), a leading manufacturer and wholesaler of high tensile steel straps, strapping seals and strapping tools, has announced its Audited financial result for H2 FY24 and FY24.
Key Financial Highlights
H2 FY24
Total Income of ₹ 56.80 Cr, HoH growth of 16.18%
EBITDA of ₹ 11.89 Cr, HoH growth of 42.25%
EBITDA Margin of 20.94%, HoH growth of 384 Bps
PAT of ₹ 7.56 Cr, HoH growth of 33.25%
PAT (%) of 13.32%, HoH growth of 170 Bps
EPS of ₹ 6.33, HoH growth of 23.39%
FY24
Total Income of ₹ 105.68 Cr, YoY growth of 45.95%
EBITDA of ₹ 20.26 Cr, YoY growth of 46.02%
EBITDA Margin of 19.17%, YoY growth of 1 Bps
PAT of ₹ 13.24 Cr, YoY growth of 41.73%
PAT (%) of 12.53%
EPS of ₹ 11.46, YoY growth of 7.30%
Commenting on the performance, Mr. Lenin Krishnamoorthy Balamanikandan, Chairman & Managing Director, Krishca Strapping Solutions Limited said, “We are thrilled to report strong revenue and profit growth for FY24, achieving the milestone of over ₹100 crore in revenues. Going forward, our strategies of expanding production capacity for ultra-high tensile, a high-margin product, and strengthening our position in packaging contracts will significantly bolster our financial performance in the near future.
We are resolute in our pursuit to capture a substantial share of the domestic market while simultaneously expanding our footprint in the export market. Looking ahead, we are planning to set up operations in the Middle East and enhance our operational efficiency through the development of an ERP system. We are continuously striving to participate in more contracts and establish a stronger presence in the market.
With these strategic initiatives and market expansion efforts, we are optimistic about our growth and profitability prospects. We believe we are well-positioned to capitalize on new opportunities and drive sustained financial performance in the coming years.”
Highlights for H2 FY24 (January 2024 – March 2024)
| Secured Job Contract with Steel Authority of India (SAIL) | The Company secured a job contract for palletisation from the Steel Authority of India (SAIL), effective until October 31, 2025. The initial contract is valued at Rs. 2.48 crores. |
| Order from SAIL for Supply of Packing Materials | The Company has received an order from the Steel Authority of India (SAIL) to supply packing materials. The order is valued at Rs. 67.25 Lakhs, with the supply period valid until October 02, 2024. |
| Received significant packaging contract. | · The company secured a significant packaging contract from M/s. Vedanta Limited, entailing the provision of securing, fastening, and covering services for trucks and containers transporting finished goods. Valued at ₹20.25 Crores |
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
Discover more from Up18 News
Subscribe to get the latest posts sent to your email.
