Emmforce Autotech Limited reported financial update for H2FY24

Emmforce Autotech Limited (BSE Code: 544166), a leading automotive niche components manufacturer in India, today announced its H2FY24 results-the first since it was converted from an erstwhile partnership firm w.e.f. 13th October 2024.

The company clocked operational revenues of Rs. 40.03 crore for H2FY24 (the period from 14 October 2023 to 31 March 2024). In terms of total revenues, the company stood at Rs. 41.28 crore for the period under review. Emmforce's EBITDA stood at Rs. 7.55 crore as its net profits were Rs. 4.08 crore for H2FY24. The company's EPS stood at Rs. 2.73.

For the full year ending 31 March 2024, company has reported PAT of Rs. 8.95 Crore and an EBITDA of Rs. 17.23 Crore on the revenue of Rs. 81.29 Crore. The full year ending 31 March 2024 includes the figures of erstwhile partnership firm M/s Emmforce Inc which was converted into company M/s Emmforce Autotech Limited as on 13 October 2023.

The company raised approximately Rs. 53.9 crore from the offering concluded in April 2024 and was listed on the BSE SME platform at Rs. 186.20 - a premium of 90% of its offer price. Beeline Capital Advisors Private Limited was the sole Book Running Lead Manager.

The Panchkula-headquartered company manufactures niche automotive drivetrain parts, and its sales comprise the majority of exports to six continents, primarily to North America and Asia. Emmforce manufactures a wide range of niche automotive drivetrain parts like Differential Housings, Differential Lockers, Differential Covers, 4WD Locking Hubs, Spindles, Axles & Shafts, Gear Shifters, Yokes, Differential Spools, Differential Tools and various differential forged/cast parts primarily for 4-wheel Drive and performance racing vehicles. Emmforce operates a manufacturing plant spread across 9,962 Sq Mtr at Baddi in HimachalPradesh.

Emmforce Autotech was founded by Ashok Mehta, a first-generation automotive industry entrepreneur. With over 32 years of rich experience in manufacturing automotive differential and drivetrain parts, Mr. Mehta has been instrumental in determining the company's vision and growth strategies. Though a chartered accountant by education, he authored the world's first book on axle shafts, "The World Around Axle Shafts."

Source : Equity Bulls

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EmmforceAutotech H2FY24 FY2024 ResultUpdate FY24