Alicon Castalloy announces H1 FY23 Earnings

Alicon Castalloy Ltd (Alicon), one of the leading integrated manufacturers of aluminum castings in India, announced its financial results for the quarter and half year ended September 30, 2022.

Performance Review for Q2 FY23 vs. Q2 FY22

- Total Income at Rs. 377.96 crore compared to Rs. 268.73 crore, higher by 41% YoY
- EBITDA at Rs. 43.46 crore compared to Rs. 25.26 crore, an increase of 72% YoY
- PBT at Rs. 20.50 crore as compared to Rs. 4.66 crore, increase of 4x
- Profit after Tax at Rs. 15.34 crore compared to Rs. 3.02 crore, higher by 5x

Performance Review for Q2 FY23 vs. Q1 FY23

- Total Income at Rs. 377.96 as compared to Rs. 344.00 crore, higher by 10% QoQ
- EBITDA at Rs. 43.46 crore compared Rs. 37.95, up by 15% QoQ
- PBT at Rs. 20.50 crore as compared to Rs. 15.91, an increase of 29% QoQ
- Profit after Tax at Rs. 15.34 crore as compared to Rs. 10.77 crore, up 43% QoQ

Performance Review for H1 FY23 vs. H1 FY22

- Total Income at Rs. 721.96 crore compared to Rs. 480.41 crore, higher by 50% YoY
- EBITDA at Rs. 81.42 crore compared to Rs. 43.30 crore, an increase of 88% YoY
- PBT at Rs. 36.41 crore as compared to Rs. 1.44 crore, higher by 25x
- Profit after Tax at Rs. 26.11 crore compared to Rs. (1.17) crore, up by 23x

Commenting on the performance, Mr. Rajeev Sikand, Group CEO, Alicon Castalloy said, "I am pleased to share that we have delivered a strong set of results on the back of initiatives undertaken in the last 24 months which have helped us to emerge as a preferred partner for global OEMs enabling us to scale our order book. Even with the headwind of recessionary trends in global markets, our consolidated total income stood at Rs. 378 crore in Q2 FY23, higher by 41% YoY and by 10% QoQ, significantly outperforming industry growth.

Profitability growth has outpaced revenue growth and our focus on increasing the share of value addition supported by efforts to optimize costs across the business, has enabled us to deliver an improved margin.

In the backdrop of multiple challenges in recent years, for the global economy in general and the auto industry in particular, we maintained an unwavering focus on transforming our business model to be better positioned to capitalize on emerging trends. We can now see multiple engines of the business contributing and our journey towards new benchmarks in revenue, profitability and performance has only just begun."

Shares of Alicon Castalloy Limited was last trading in BSE at Rs. 989.25 as compared to the previous close of Rs. 956.80. The total number of shares traded during the day was 5071 in over 786 trades.

The stock hit an intraday high of Rs. 999.00 and intraday low of 930.95. The net turnover during the day was Rs. 4968252.00.

Source : Equity Bulls

Keywords

AliconCastalloy INE062D01024 Q2FY23 H1FY23 ResultUpdate