Salzer Electronics Ltd. Results

H1FY25 & Q2FY25 Result Announced for Salzer Electronics Ltd.

Electrical Equipment & Products company Salzer Electronics announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Net Revenue in Q2FY25 was Rs 344.23 crore as against Rs 280.72 crore in Q2FY24, YoY growth of 22.62%. This growth was mainly driven by higher demand for Industrial switchgear as well as wires and cable businesses mainly due to high demand products like three phase transformers, wire harness, relays and new product like contactors etc. Contribution from Exports at 29.15%, export revenue grew 3.1% YoY in Q2FY25, driven by higher sales from North and South America, Middle East and Africa and Asian countries. EBITDA (excluding other income) was Rs 35.31 crore in Q2FY25 as against Rs26.79 crore in Q2FY24, YoY growth of 31.79% on account of increased sales in the higher margin Switchgear products. EBITDA Margin for the quarter stood at 10.26%, rise of 72 bps. Profit After Tax at Rs 27.28 crore in Q2FY25 as against Rs 10.10 crore in Q2FY24, YoY growth of 170.10% H1FY25 Financial Highlights: Net Revenue in H1FY25 was Rs 701.14 crore as against Rs 569.40 crore in H1FY24, YoY growth of 23.14%, driven by business of Industrial switchgear and wire & cable business. EBITDA (excluding other income) was Rs 68.76 crore in H1FY25 as against Rs 52.87 crore in H1FY24, YoY growth of 30.05%, mainly on account of higher sales in high demand products like wire harness, relays and contactors etc. EBITDA Margin for the quarter stood at 9.81%, rise of 52 bps. Profit After Tax at Rs 42.03 crore in H1FY25 as against Rs 20.27 crore in H1FY24, YoY growth of 107.39%. PAT Margin stood at 5.99% in H1FY25 Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics, said: “During the Second quarter of the financial year, we registered a strong consolidated revenue of Rs 344.23 crore with EBITDA (excluding other income) and PAT of Rs 35.31 crore and Rs 27.28 crore, respectively. This growth was mainly driven by the higher margin switchgear business that led to margin improvement. This growth also is significant, as we are seeing a slight slowdown in the growth in India amidst global uncertanity. We have seen positive trend in decreasing raw material cost, expect this to continue which helped to improve our EBITDA Margins. We are focusing on maintaining a balanced business mix between industrial switchgear and wires & cables products to manage our overall margins. I am pleased to announce that we have received our first order for smart meteRs This achievement is a testament to our team's dedication to advancing smart metering technology. Our solution has garnered significant interest, with evaluations currently underway by at least six additional AMISPs across India. We are in advanced discussions with these partners and are optimistic about securing further ordeRs This momentum reinforces our commitment to supporting India's digital transformation in energy management through cutting-edge smart meter technology." We strive to maintain this growth trajectory to set our eyes on new summits of achievement. At Salzer, innovation is in our manifesto, and our strong product offerings and brand position in the market has placed us in a position to achieve new benchmarks for the future. Based on the domestic and export outlook, we are optimistic on our overall business performance. I thank the entire team at Salzer Electronics for their untiring efforts and all our stakeholders for their continued support and faith in our Company.”

Q1FY25 Quarterly Result Announced for Salzer Electronics Ltd.

Electrical Equipment & Products company Salzer Electronics announced Q1FY25 results: Financial Highlights: Net Revenue in Q1FY25 was Rs 356.90 crore as against Rs 288.67 crore in Q1FY24, YoY growth of 23.64%. This growth was mainly driven by higher demand for Industrial switchgear and wires & Cable business due to better market conditions EBITDA (excluding other income) was Rs 33.45 crore in Q1FY25 as against Rs 26.08 crore in Q1FY24, YoY growth of 28.26% on account of increased sales in the higher margin Switchgear products and wires & Cables business EBITDA Margin for the quarter stood at 9.37% Profit After Tax at Rs 14.76 crore in Q1FY25 as against Rs 10.17 crore in Q1FY24, YoY growth of 45.14% Commenting on this, Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics said: “During the First quarter of the financial year, we registered a revenue of Rs 356.90 crore with EBITDA (excluding other income) and PAT of Rs 33.45 crore and Rs 14.76 crore, respectively on a consolidated basis. This growth was mainly driven by industrial switchgear and wires & Cables business due to better market conditions. Our revenues from exports were largely from North and South America, and Middle East countries. We expect to continue with a similar growth trajectory with our strong product offerings and brand position in the market. Based on domestic and export outlook, we are cautiously optimistic about the overall business performance. Our strategic focus is on sustaining a well-balanced business mix between industrial switchgear and wires & cables products to effectively improve the overall gross margin. We are planning to establish a wholly owned subsidiary in Saudi Arabia. Currently we exporting to major OEMs in Saud Arabia. The Saudi government's local content rule has increased demand for locally made products. The market for key products, including cable ducts, terminal connectors, and rotary cam switches, shows significant growth potential. Setting up a facility in Saudi Arabia will meet local demand and provide duty-free access to other GCC countries. Additionally, the company plans to introduce wires and cables in the second year to further expand its market presence. I thank the entire team at Salzer Electronics for their untiring efforts and all our stakeholders for their continued support and faith in our Company.

Q4FY24 Quarterly & FY24 Annual Result Announced for Salzer Electronics Ltd.

Electrical Equipment Products company Salzer Electronics announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net Revenue in Q4FY24 was Rs 326.57 crore as against Rs 302.73 crore in Q4FY23, YoY growth of 7.87%. This growth was driven by wires and cable and Industrial switchgear businesses combined with increase in sales prices Contribution from Exports at 24.97%. EBITDA (excluding other income) was Rs 33.08 crore in Q4FY24 as against Rs 24.67 crore in Q4FY23, YoY growth of 34.09% , mainly on account of increase in sales prices & higher contribution of the industrial switch gear business EBITDA Margin for the quarter stood at 10.13% , YoY improvement of 198 bps Profit After Tax at Rs 13.32 crore in Q4FY24 as against Rs 9.85 crore in Q4FY23, YoY growth of 35.24% PAT Margin for the quarter stood at 4.08% , YoY improvement of 83 bps FY24 Financial Highlights: Net Revenue in FY24, Rs 1,166.31 crore as against Rs 1,037.17 crore in FY23, YoY growth of 12.45%, driven by business of Industrial switchgear and wire & cable businesses Contribution from exports was 26.93% in FY24 EBITDA (excluding other income) stood at Rs 116.98 crore in FY24 as against Rs 95.90 crore in FY23, YoY growth of 21.98%, mainly on account of reduced raw material prices as well as increase in the sales price EBITDA Margin at 10.03%, YoY improvement of 78 bps Profit After Tax was at Rs 47.07 crore in FY24 as against Rs 39.62 crore in FY23, YoY growth of 18.80% PAT Margin stood at 4.04% in FY24, a YoY improvement of 22 bps Commenting on this, Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics Ltd said: “During the fourth quarter of the fiscal year, the consolidated revenue grew over 8% to Rs 326.57 crore. The EBITDA was at Rs 33.08 crore, a year on year increase of 34.1% while the PAT increased by 35.2% to Rs 13.32 crore. The consolidated revenue for the full year was Rs 1,166.31 crore, a year on year growth of over 12%. The EBITDA grew by 22.0% at Rs 116.98 crore while the PAT growth was 18.8% at Rs 47.07 crore. We have observed a positive trend in the increase of our sales prices, and we anticipate this momentum to persist, contributing to the improvement of our EBITDA Margins. Our strategic focus is on sustaining a wellbalanced business mix between industrial switchgear and wires & cables products to effectively improve the overall gross margin. We are committed to sustaining this growth trajectory as we aim for new heights of accomplishment. The company has demonstrated robust performance, with sales revenue and profitability showing growth in Q4 & full year driven by businesses of Industrial Switchgear and Wires & Cables. Export markets have also been instrumental in revenue generation, with Salzer actively pursuing expansion initiatives in regions such as Australia, New Zealand, and the Middle East, while anticipating continued growth in its switchgear business. This year, Salzer Electronics achieved noteworthy milestones in product development. Most notably, we successfully created a Smart Meter facility and received BIS certification. At Salzer, innovation is ingrained in our strategy, and our robust product offerings and strong brand position in the market position us to establish new benchmarks for the future. With a positive outlook on both domestic and export prospects, we maintain optimism regarding our overall business performance. I thank the entire team at Salzer Electronics for their untiring efforts and all our stakeholders for their continued support and faith in our Company.”