Sansera Engineering net profit dips 5% YoY to Rs 35 cr in March quarter

Sansera Engineering on Tuesday said its consolidated net profit dipped five per cent to Rs 35.42 crore in the March quarter.

Press Trust of India New Delhi
Analysts attribute the  poor corporate earnings to a slowdown in aggregate demand in the economy

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Sansera Engineering on Tuesday said its consolidated net profit dipped five per cent to Rs 35.42 crore in the March quarter.

The consolidated net profit of the company was Rs 37.36 crore in the quarter ended on March 31, 2022, a company statement said.

Total income increased to Rs 623.04 crore in the quarter under review, from Rs 580.82 crore in the same period a year ago.

However, the consolidated net profit in the fiscal 2022-23, grew 12 per cent to Rs 148.34 crore, from Rs 131.89 crore in the same period in 2021-22.

The total income rose to Rs 2,356.11 crore in the fiscal ended March 31, from Rs 2,004.53 crore in 2021-22.

The board of directors has recommended a dividend of 125 per cent of the face value of Rs 2.50 per equity share for FY'23.

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"We finished another year with our best-ever performance with a topline of Rs 23,561 million and 16.8 per cent EBITDA. The momentum is expected to continue as we start the current fiscal year with a solid order book for Rs 13,279 million," said B R Preetham Group CEO, Sansera Engineering.

Going ahead, "we expect an even better FY'24 as our end markets, both auto and non-auto, are showing signs of strong growth in India and overseas," Preetham added.

The company's order book with annual peak revenues stood at around Rs 1,330 crore after removing orders that moved to mass production in FY23.

Its net debt stood at Rs 650.5 crore (March-23).

Sansera Engineering Limited was incorporated in 1981. It is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 23 2023 | 5:12 PM IST

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