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Salasar Techno Engineering Ltd announces Q2 FY19 results

Posted On: 2018-11-07 13:01:21

Salasar Techno Engineering Ltd announces Q2 FY19 resultsSalasar Techno Engineering Limited (BSE: 540642. NSE: SALASAR), among leading manufacturers of Telecom Towers, galvanized and non-galvanised steel structures in India, has announced its unaudited financial results for the quarter and half year ended September 30th, 2018.

The Company is into manufacturing, fabrication and installation of telecom towers, transmission towers & substation structures and solar mounting structures.

Performance Highlights: -

For the quarter ended September 30th, 2018:

- Revenue from operations was at Rs. 153.64 crore in Q2 FY19, as against Rs. 99.58 crore in Q2 FY18, a Y-o-Y growth of 54.28% on account of growth across telecom tower and railway electrification structure segments

- EBITDA stood at Rs. 16.67 crore in Q2 FY19 as against Rs. 11.02 crore in the previous year, Y-o-Y growth of 51.20%, on account of higher operational efficiencies, despite increase in basic raw material prices

- EBITDA margin in Q2 FY19 at 10.85%
- Profit After Tax was at Rs. 7.93 crore in Q2 FY19 as against Rs. 5.59 crore in Q2 FY18, a significant growth of 41.94%

- PAT margin at 5.16%
- EPS stood at Rs. 5.97, Y-o-Y increase of 30.63%

For the first half ended September 30th, 2018:

- Revenue from operations was at Rs. 316.64 crore in H1 FY19, as against Rs. 216.70 crore in H1 FY18, a Y-o-Y growth of 46.12% on account of timely execution of orders across segments

- EBITDA stood at Rs. 34.26 crore in H1 FY19 as against Rs. 23.23 crore in the previous year, Y-o-Y growth of 47.49%, on account of higher operating efficiency throughout half year, despite increase in basic raw material prices

- EBITDA margin increased by over 10 bps in H1 FY19 to 10.82% as against 10.72% in H1 FY18

- Profit After Tax was at Rs. 16.85 crore in H1 FY19 as against Rs. 11.70 crore in H1 FY18, a significant growth of 44.06%

- PAT margin stood at 5.32% in H1 FY18
- EPS stood at Rs. 12.68, Y-o-Y increase of 32.64%

Commenting on the result, Mr Shashank Agarwal, Joint Managing Director, Salasar Techno Engineering Ltd. said, "I am happy to share that we have delivered yet another strong performance this quarter. We have registered a revenue growth of over 50% and recorded significant increase in our overall profit of over 46% in Q2 FY19. Each of our business segment has contributed to this robust growth. Our strategy to diversify our business and enter in newer segments has helped us to gain momentum. All our business segments offer significant headroom for growth and operating leverage as they scale up.

We continue to outperform in our industry by investing in product enhancements, increasing our customer focus and maintaining strong controls over operational cost.

I would like to thank entire team of Salasar Techno Engineering for their untiring efforts. We are confident of maintaining the current growth momentum and continuously improve with better performance as we see lot of opportunities opening up going ahead".

Shares of Salasar Techno Engineering Ltd was last trading in BSE at Rs.259 as compared to the previous close of Rs. 244.8. The total number of shares traded during the day was 9890 in over 733 trades.

The stock hit an intraday high of Rs. 266.65 and intraday low of 242. The net turnover during the day was Rs. 2545503.


Source: Equity Bulls

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