Commenting on this,  Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics Ltd said: “Our fourth quarter performance has been in line with our expectations. We continued to see good growth coming in from all business divisions. We are witnessing a substantially higher demand in many key products from various products under Industrial Switchgear division. Our wires and cables division grew 45% sequentially during the quarter, accounting for 41% of our current quarter revenue. In fact, we saw demand picking up in the Agrimarket cable segment after a long slowdown in agri market. During the Fourth quarter of the financial year, we registered a revenue of Rs. 295.12 crores with EBITDA (excluding other income) and PAT of Rs. 23.30 crore and Rs. 8.96 crore, respectively. Raw material prices have begun to stabilize and we are seeing the benefits of our price hikes in the form of better gross margins year on year. During the year we have seen good growth in all the divisions mainly due to better market conditions in India and abroad. Exports contributed about 26% to our revenues this year, mainly on account of higher sales in the America’s including South American countries like Brazil, Argentina and Chile. Going into the next fiscal, we expect to maintain our 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. 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.” 

Other developments 

Equity capital increased from Rs 15.98 crore as of 31 March 2022 to Rs 16.18 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.  

The Board recommended Dividend at the rate of 22% i.e Rs.2.20 per equity share of Rs.10/- each for the financial year 2022-23 and the Dividend, if approved by the shareholders, shall be payable to all eligible members whose names appearing in the Register of Members on the record date 

Promoters’ stake was 33.18% as of 31 March 2023 ,compared to 32.34% as of 31 March 2022 .  

Loan funds rose to Rs 273.00 crore as of 31 March 2023 from Rs 247.81 crore as of 31 March 2022.  Inventories rose to Rs 273.80 crore as of 31 March 2023 from Rs 226.98 crore as of 31 March 2022.  Sundry debtors were higher at Rs 287.27 crore as of 31 March 2023 compared to Rs 218.39 crore as of 31 March 2022.  Cash and bank balance rose to Rs 17.39 crore as of 31 March 2023 from Rs 11.75 crore as of 31 March 2022.  Investments rose to Rs 5.14 crore as of 31 March 2023 from Rs 3.95 crore as of 31 March 2022 .  Fixed assets increased to Rs 235.16 crore as of 31 March 2023 from Rs 214.16 crore as of 31 March 2022.  Intangible assets declined from Rs 10.81 crore to Rs 10.57 crore.  

Cash flow from operating activities has turned positive Rs 25.12 crore for year ended March 2023 from negative Rs 12.24 crore for year ended March 2022.  Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 37.81 crore, compared to Rs 19.56 crore during the year ended March 2022.