Commenting on this, Mr. Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics Ltd said: “During the Third quarter of the fiscal year, we registered a consolidated revenue of Rs. 270.35 crores, accompanied by EBITDA (excluding other income) and PAT of Rs. 31.02 crore and Rs. 13.48 crore, respectively. The broader market experienced a sluggish pace especially in the industrial switchgear business, attributed to global geopolitical uncertainties, a deceleration in the USA and Europe among other factors. Despite we have seen growth coming in from Industrial switchgear and wires and cable business divisions. The surge in demand for wires & cables is particularly noteworthy, primarily driven by the flourishing real estate sector. Both Building wires and Agri market cables experienced a substantial increase in revenue. Our revenues from exports were largely from North & South America as well as Europe. We have observed a positive trend in the decline of raw material costs and an uptick in sales prices, and we anticipate this momentum to persist, contributing to the improvement of our EBITDA Margins. 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 committed to sustaining this growth trajectory as we aim for new heights of accomplishment. 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.”

Promoters’ stake was 37.21% as of 31 December 2023 ,compared to 32.34% as of 31 December 2022 .  Promoters pledged stake was 22.99% as of 31 December 2023

 

Salzer Electronics : Consolidated Results

Quarter ended Year to Date Year ended Particulars 202312 202212 Var.(%) 202312 202212 Var.(%) 202303 202203 Var.(%) Net Sales (including other operating income) 270.35 245.60 10.08 839.74 734.36 14.35 1,037.17 803.54 29.08 OPM (%) 11.48 10.14 134 bps 9.99 9.70 29 bps 9.25 8.24 100 bps OP 31.03 24.90 24.62 83.89 71.22 17.79 95.90 66.23 44.80 Other Inc. 0.67 0.62 8.06 1.70 1.37 24.09 1.70 2.48 -31.45 PBIDT 31.70 25.52 24.22 85.59 72.59 17.91 97.60 68.71 42.05 Interest 8.71 6.67 30.58 25.03 18.43 35.81 26.12 19.88 31.39 PBDT 22.99 18.85 21.96 60.56 54.16 11.82 71.48 48.83 46.39 Depreciation 4.88 4.16 17.31 14.7 12.27 19.80 16.6 16.33 1.65 PBT 18.11 14.69 23.28 45.86 41.89 9.48 54.88 32.5 68.86 Share of Profit/(Loss) from Associates 0 0 - 0 0 - 0 0 - PBT before EO 18.11 14.69 23.28 45.86 41.89 9.48 54.88 32.5 68.86 EO Income 0 0.02 - 0 0.02 - 0.02 0 - PBT after EO 18.11 14.71 23.11 45.86 41.91 9.42 54.9 32.5 68.92 Taxation 4.63 4.19 10.50 12.12 12.14 -0.16 15.28 8.3 84.10 PAT 13.48 10.52 28.14 33.74 29.77 13.34 39.62 24.2 63.72 Minority Interest (MI) 0.28 0.21 33.33 0.77 0.65 18.46 0.91 1.61 -43.48 Net profit 13.2 10.31 28.03 32.97 29.12 13.22 38.71 22.59 71.36 P/(L) from discontinued operations net of tax 0 0 - 0 0 - 0 0 - Net profit after discontinued operations 13.2 10.31 28.03 32.97 29.12 13.22 38.71 22.59 71.36 EPS (Rs)* 7.59 5.93 28.16 18.97 16.75 13.26 22.26 13.00 71.27 * EPS is on current equity of Rs 17.38 crore, Face value of Rs 10, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database