KPCL announces first quarter results for FY 2022 with over 100 % revenue growth Y-O-Y

Kirloskar Pneumatic Company Ltd (KPCL) (BSE : 505283), a major player in Air, Refrigeration & Gas Compression business in India, announced today its financial results for the first quarter of financial year FY 2022 ended 30th June 2021.

The Company said "We are pleased to inform you that despite supply chain disruption and 2nd wave of Covid 19 affecting our work force, we have a good start of the year with the first quarter performance, registering 108 % increase in revenue over corresponding quarter of previous year which was largely affected by nationwide lockdown. Profits after tax showed a swing of over Rs 12 crores on an incremental sale of Rs. 89 cr."

Order booking during the first quarter was encouraging particularly in CNG compressors and Compressors for generation of Oxygen required to battle 2nd wave of Covid 19 pandemic. Our Company prioritized need of the nation by stepping up production of these compressors for Oxygen plants. The Company will continue to supply these products in subsequent quarters also. Sufficient inventory and resources have been made available for this purpose even though some supply chain disruptions are still being experienced.

Compression business now accounts for over 95% of the Company's revenue and remains as only reporting segment. All other activities have been grouped under other non-reportable segments.

Review of Q1 FY 2021-22 Financial Performance:

- Operating revenue is at INR 169 Cr for Q1 FY22 vs INR 80 Cr for Q1 of FY 21 registering 108 % increase Y-o-Y

- EBITDA is at INR 19.8 Cr for Q1 FY22 vs INR 1.50 Cr for Q1 of Y21

- EBITDA margin improved to 11.5 % for Q1 FY22 vs 1.8 % Q1 FY21

- PBT was posted at INR 9.8 Cr for Q1 FY22 vs loss of INR 8.1 in Q1 FY 21

- PAT showed a swing of INR 12.74 for Q1 FY22 compared to loss of INR 5.7 Cr in Q1 FY21

- Order book stood at INR 1,040 Cr as on 1st July 21 compared to INR 868 Cr on 1st July 20 representing increase of about 20% Y-o-Y

Shares of Kirloskar Pneumatic Co.Ltd. was last trading in BSE at Rs. 365.3 as compared to the previous close of Rs. 387. The total number of shares traded during the day was 61074 in over 750 trades.

The stock hit an intraday high of Rs. 390.1 and intraday low of 360.05. The net turnover during the day was Rs. 22740827.

Source : Equity Bulls

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