Everest Kanto Cylinder Ltd. Results

Q2FY25 Quarterly Result Announced for Everest Kanto Cylinder Ltd.

Industrial Products company Everest Kanto Cylinder announced Q2FY25 results Standalone Financial Highlights: Income from operations: Rs 238.8 crore compared to Rs 182.3 crore during Q2FY24. EBITDA: Rs 22.2 crore compared to Rs 22.8 crore during Q2FY24. EBITDA Margin: 9.3% for Q2FY25. PBT: Rs 18.2 crore compared to Rs 17.9 crore during Q2FY24. PBT Margin: 7.6% for Q2FY25. PAT: Rs 13.4 crore compared to Rs 14.1 crore during Q2FY24. PAT Margin: 5.6% for Q2FY25. Consolidated Financial Highlights: Income from operations: Rs 367.3 crore compared to Rs 299.3 crore during Q2FY24. EBITDA: Rs 53.1 crore compared to Rs 41.3 crore during Q2FY24. EBITDA Margin: 14.5% for Q2FY25. PBT: Rs 44.6 crore compared to Rs 30.0 crore during Q2FY24. PBT Margin: 12.1% for Q2FY25. PAT: Rs 38.6 crore compared to Rs 26.3 crore during Q2FY24. PAT Margin: 10.5% for Q2FY25. Pushkar Khurana, Chairman, and Mr. Puneet Khurana, Managing Director, said: “We are pleased to report a strong performance in Q2 FY25, with notable contributions from our international markets. Our growth in EBITDA and PAT highlights the sustained demand for our products and the favorable global market environment. In India, the outlook for seamless gas cylinders is encouraging. With strong governmental support for eco-friendly initiatives, including the promotion of natural gas and infrastructure development, the adoption of CNG vehicles is steadily increasing. The extensive rollout of the CNG distribution network across the country reinforces CNG's importance in India's transportation sector, boosting demand for seamless cylinders. India's commitment to sustainable energy is reflected in private sector plans to establish multiple biomass-to-CNG plants. With CNG already recognized as a cleaner alternative to petrol and diesel, the increasing integration of bio-gas will make it an even more sustainable and accessible fuel choice. This development aligns with India’s green energy goals and its target of achieving net-zero emissions by 2070, positioning CNG as a future-ready fuel that meets the nation’s evolving energy needs while reducing dependency on imported fossil fuels. Looking ahead, our advanced manufacturing facilities in Egypt and Mundra, India, are progressing as planned and are expected to be operational in upcoming quarters. With our established leadership position and a solid financial foundation, we are well-prepared to capitalize on these growth opportunities and sustain our momentum in the years to come."

Q4FY24 Quarterly & FY24 Annual Result Announced for Everest Kanto Cylinder Ltd.

Industrial Products company Everest Kanto Cylinder announced Q4FY24 & FY24 results: EKC's revenue for FY24 stood at Rs 1,223.0 crore. The company recorded an EBITDA of Rs 160.5 crore for FY24, with margins at 13.1%. The company recorded an consolidated EBITDA of Rs 30.8 crore for Q4FY24, with margins at 9.4%. Profit After Tax (PAT) reached Rs 97.6 crore in FY24. The Board of Directors recommended a dividend of Rs 0.70 per share for FY24. Commenting on the performance for the quarter, in a joint statement, Pushkar Khurana, Chairman, and Puneet Khurana, Managing Director, said “We have reported a stable operational and financial performance in FY24. Our overall consolidated results remain steady, with healthy sales volumes registered during the period under review. A sustained increase in demand across both domestic and international markets over the past few quarters has enabled us to achieve consistent performance this year. However, lower realizations witnessed in Q4 impacted our performance, leading to lower EBITDA margins. We remain highly enthusiastic about the growth of seamless gas cylinders in India. The government's commitment to eco-friendly natural gas utilization, coupled with fiscal incentives and infrastructure development, creates a favorable environment for CNG vehicles. Significant investments are planned for the CNG sector over the next 5-6 years, with the number of CNG stations set to grow from ~6,350 to 17,500 by 2030, further driving the adoption of CNG vehicles. Additionally, the National Green Hydrogen Mission aims to establish India as a global hub for green hydrogen, aligning with the global trend of reducing carbon emissions. The government’s ambitious plans to expand green hydrogen usage across sectors like transportation, industry, and energy storage, combined with the rising demand for hydrogen-related infrastructure, positions EKC to leverage its expertise and enhance its market presence in the growing hydrogen market. We are witnessing healthy adoption of CV vehicles in both passenger and commercial segments. In the PV sector, we are actively working towards adding marquee customers during the upcoming fiscal year, while the CV segment is experiencing an uptick, a trend we expect to continue. Moving forward, we are committed to strengthening our market leadership, maximizing value for stakeholders, and driving significant contributions to the global shift towards cleaner energy solutions. EKC has positioned itself with substantial capacities and a robust balance sheet to seize growth opportunities and further solidify its leadership in the industry."

Q1FY24 Quarterly Result Announced for Everest Kanto Cylinder Ltd.

Industrial Products company Everest Kanto Cylinder announced Q1FY24 results: Consolidated Q1FY24: Income from operations of Rs 268.4 crore in Q1FY24 compared to Rs 380.5 crore in Q1FY23. EBITDA of Rs 36.9 crore in Q1FY24 compared to Rs 60.5 crore in Q1FY23. EBITDA Margin (%) of 13.7% in Q1FY24 compared to 15.9% in Q1FY23. Profit Before Tax of Rs 28.5 crore in Q1FY24 compared to Rs 50.0 crore in Q1FY23. PAT of Rs 21.8 crore in Q1FY24 compared to Rs 38.7 crore in Q1FY23. Standalone Q1FY24: Income from operations of Rs 165.7 crore in Q1FY24 compared to Rs 270.4 crore in Q1FY23 EBITDA of Rs 18.2 crore in Q1FY24 compared to Rs 49.6 crore in Q1FY23 EBITDA Margin (%) of 11% in Q1FY24 compared to 18.3% in Q1FY23 Profit Before Tax of Rs 14.7 crore in Q1FY24 compared to Rs 43.9 crore in Q1FY23 PAT of Rs 9.6 crore in Q1FY24 compared to Rs 35.0 crore in Q1FY23 Commenting on the performance for the quarter, in a joint statement, Pushkar Khurana, Chairman, and Puneet Khurana, Managing Director, said, “We began the fiscal year with challenges that have notably impacted our financial performance. Softening demand for our CNG cascades segment in the domestic market, and lower demand in international markets, led to a decline in sales volumes, consequently affecting our revenues and profitability in Q1FY24. Our consolidated sales stood at Rs 268 crore. Furthermore, our profitability was impacted owing to lower operating leverage. Despite the hurdles, we maintain an optimistic outlook on the potential for CNG cylinders in India. The government's pledge to promote eco-friendly natural gas, along with fiscal incentives and adopting policies leading to structurally lower CNG prices, are commendable. Moreover, the ongoing expansion of the CNG distribution network throughout the nation signifies a strong commitment to a greener future. As we move forward, we recognize the current market challenges impacting our business. Our team is focused on leveraging our core competencies and engaging with both domestic and international customers to drive our business. Building on our strength in the CV CNG market, our teams are also actively working on strategies to enhance our penetration in the PV markets. With a firm commitment to quality and customer satisfaction, we believe we are well positioned to capitalize on the future of the CNG vehicle market."

Q1FY23 Quarterly Result Announced for Everest Kanto Cylinder Ltd.

Industrial Products company Everest Kanto Cylinder announced Q1FY23 Result : Consolidated Revenues up 13.6% EBITDA Margin stood at 15.9% Profit Before Tax stood at Rs. 38.7 crore EPS up stood at Rs. 3.45 Debt reduced from Rs. 90.0 crore (March-21) to Rs. 42.5 crore (March-22) USA business up 38.9% to Rs. 57.8 crore UAE business up 0.4% to Rs. 51.9 crore India business up 10.3% to Rs. 270 crore Reported subdued performance during the quarter owing to muted QoQ demand as the Company witnessed customers notably de-stock their inventories EBITDA margin stood at 15.9% in Q1 FY23 Standalone EBITDA margin stood at 18.4% Lower revenues combined with cost escalations affected margins during Q1 PBT margin stood at 16.2% in Q1 FY23 While the demand for cylinders was soft during Q1, hope to see a rebound as the year progresses