Salasar Techno Engineering Ltd announces Q4 and FY24 results

Salasar Techno Engineering Ltd. ("Salasar" or "The Company"), is a one stop engineering and infrastructure solution provider. The Company is engaged in providing turnkey EPC services for Railway and Power sectors and is also engaged in designing and manufacturing of telecom towers, Monopoles and other Heavy Steel Structures.

Commenting on the results, the management team of Salasar said: "We are pleased to share our business and financial performance for Q4 FY24 and FY24. Our revenue from operations reached Rs. 3,673.3 Mn in Q4 FY24, up from Rs. 2,947 Mn in Q4 FY23, and totaled Rs. 12,084.3 Mn for FY24 compared to Rs. 10,049.0 Mn in FY23. This growth was driven by rising demand for our diverse EPC solutions across power, railways, and telecom.

Our EBITDA for Q4 FY24 was Rs. 364.6 Mn, an increase from Rs. 298.5 Mn in Q4 FY23, and for FY24, it reached Rs. 1,224.2 Mn, up from Rs. 918.1 Mn in FY23, reflecting improvements of 22.1% and 33.3% respectively. EBITDA margins were 10.1% for FY24 as compared to 9.1% in FY23 which showed an increase by 100 bps owing to efficient execution.

Profit after tax (PAT) for Q4 FY24 was Rs. 169.7 Mn, compared to Rs. 147.3 Mn in Q4 FY23, and for FY24, it stood at Rs. 529.3 Mn, compared to Rs. 492.5Mn in FY23. PAT margins was 4.4% for FY24 while for FY23 it was 4.0%

Our current order book of ~Rs. 24,600 Mn demonstrates client confidence and establishes a strong foundation for future growth. The high demand in the railway, power, and telecom sectors highlights the effectiveness of our solutions and aligns with our strategic focus, enabling sustainable growth.

With the strategic objective to provide more comprehensive EPC services under one roof, we acquired EMC Ltd, valued at Rs. 1,780 Mn. With this acquisition Salasar will get distinct advantages, bolstering Salasar's market presence, expanding its service portfolio, and driving operational synergies for enhanced efficiency and profitability. EMC Ltd., renowned for its successful large scale project deliveries in India as well as overseas market, further strengthens Salasar's position in power transmission and substation segments.

Our mission is to deliver exceptional engineering solutions while ensuring sustainable growth for our stakeholders. We will invest in enhancing our capacity to provide critical infrastructure that supports India's global competitiveness, including power transmission, railway electrification, telecom, smart cities, bridges, and heavy structures. We thank our dedicated team for their unwavering support in all circumstances."

Source : Equity Bulls

Keywords

SalasarTechnoEngineering Q4FY24 FY2024 ResultUpdate FY24