Indo-National Ltd consolidated Q3FY24 PAT climbs to Rs. 58 Mn

Indo-National Ltd. (INL) is a leading consumer goods Company with a portfolio comprising dry-cell batteries, flashlights, LED lights, Mosquito bats, DORCO Blades and electrical accessories. Through its subsidiaries and step-down joint ventures, it has also emerged as a global supplier of composites to the railway, aerospace and defense industries. The Company has announced its financial results for the third quarter and nine months ended December 31, 2023.

Key Financial Highlights:

Revenue from Operations: Indo-National Ltd. reported a consolidated revenue of INR 1683 million in Q3 FY24, marking a significant year-on-year (YoY) growth of 12.8%. The revenue for the nine months of FY24 stood at INR 4717 million, reflecting a commendable growth rate of 10.0% compared to the same period last year.

EBITDA (Excluding Other Income): The company's EBITDA surged to INR 132 million in Q3 FY24, representing a remarkable YoY growth of 103.1%. The EBITDA margin expanded significantly to 7.8%, compared to 4.4% in Q3 FY23, indicating improved operational efficiency and profitability. Similarly, for the nine months of FY24, the EBITDA reached INR 231 million, reflecting a staggering growth of 128.7% over the previous year.

Profit Before Tax (PBT): [Company Name] reported a positive PBT of INR 81 million in Q3 FY24, compared to a loss of INR 12 million in the same period last year. This turnaround reflects the company's ability to effectively manage costs and optimize operational performance. However, the PBT margin for the nine months of FY24 stood at 1.5%, indicating room for further improvement.

Profit After Tax (PAT): The company reported a PAT of INR 58 million in Q3 FY24, compared to a loss of INR 13 million in Q3 FY23. Similarly, for the nine months of FY24, the PAT stood at INR 56 million, compared to a loss of INR 64 million in the corresponding period last year.

Earnings Per Share (EPS): The diluted EPS for Q3 FY24 stood at INR 4.59, showcasing a significant improvement compared to the same period last year, indicating enhanced profitability and shareholder value.

Commenting on the performance, Mr. Aditya Reddy, Jt.Managing Director said: "I am pleased to share our vision to delight consumers through value and creativity, which we set for ourselves in our 50th Golden Jubilee year, started showing sustainable results, our standalone revenue grew 11% in Q3 over LY and ended 9M with 17% growth, with an EBITDA improvement to 7.8% in Q3 and ended 9M at 4.9%, this performance has been backed by inputs viz Brand relaunch, Omni channel focus, strengthening our Lighting business, improving productivity and driving cost efficiencies, focus on premiumization and consistent growth in battery portfolio.

He added, "we have been able to handle well the market dynamics by staying course on profitable growth model while preparing ourselves for future with a strong product pipeline, technology led, building capable team and business transformative solutions, we are confident in our ability to close the financial year 2024 as one of the fastest growing period and remain dedicated to delivering value to our customers and stakeholders going forward."

Key Developments / Operational Highlights FY24

Indo-National Ltd.'s step down subsidiary Kineco Kaman composites India pvt.ltd had successfully completed delivery of 1st OMA Assembly for the Human Space Flight Mission - Gaganyaan.

Our LED category crossed Rs. 100 Crs revenue, first time, for the period ended 31st December 2023 (YTD).

Source : Equity Bulls

Keywords

IndoNational Q3FY24 9MFY24 ResultUpdate