Agarwal Industrial Corporation Ltd. significant improvement in operating margins in Q3 FY24

Agarwal Industrial Corporation Ltd. India's largest private sector Bitumen Logistics Company, has announced robust financial numbers for Q3 FY2024. The Company with its innovative pavement solutions is the largest private player of Bitumen in India.

Highlight of Consolidated Results:

Consolidated result of Q3 FY23

- The Revenue from Operation was reported at Rs. 488.18 Crs.

- The reported EBITDA margin in Q3FY24 was 9.25% v/s 7.19% in Q3FY23 an increase of 2.06% with Rs. 45.24 Crs.

- The Profit after tax (PAT) was Rs. 27.62 Crs. at a margin of 5.65% v/s 4.55% in Q3FY23

- EPS was reported at 18.47 v/s 17.63 in Q3FY23

- The volume growth of the consolidated business (in terms of metric tons) stood at 2,92,057.31 Mt. tons in 9M FY24 compared to 2,72,088.50 Mt. tons in 9M FY23

- Added its largest ever vessel named MT Gauri having capacity of 47,999 MTs taking the fleet capacity to 10 & total capacity to 1,02,049 Mt. tons.

- The Company has set up its own Solar system at manufacturing units to strengthen its operational efficiencies resulting in increased margins.

Agarwal Industrial Corporation Ltd., incorporated in the year 1995, is an integrated infraancillary Company & has been a market leader in the Bitumen segment. The Company has 7 strategically located manufacturing facilities & 7 bulk storage terminals with capacity of 30,500 Mt. tons. The Company has a diversified revenue profile with established clientele network. The Company has a fleet size of 650+ vessels consisting of 350+ Bitumen Tankers and 300+ LPG Tankers resulting in reduced transportation costs.

The Government of India has spent Rs. 23 lakh crore rupees on infrastructure spending over the last three years (FY22-FY24). The Interim Budget 2024-25, allocated Rs 2,78,000 crore for 2024-25 for road, transport and highways as against Rs. 2,70,434.71 crore allocated in 2023-24.

India, has the second largest road network in the World at about 62.16 lakh kms & the Government of India has been investing heavily in Infrastructure Projects by setting up expressways, highways, economic corridors etc. which provide abundant opportunities for the growth of the Company.

Shares of Agarwal Industrial Corporation Limited was last trading in BSE at Rs. 998.30 as compared to the previous close of Rs. 1048.90. The total number of shares traded during the day was 10571 in over 1353 trades.

The stock hit an intraday high of Rs. 1013.80 and intraday low of 971.70. The net turnover during the day was Rs. 10549838.00.

Source : Equity Bulls

Keywords

AgarwalIndustrialCorporation INE204E01012 Q3FY24 9MFY24 ResultUpdate