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Salzer Electronics Ltd announces Q3, 9M FY19 results

Posted On: 2019-02-09 13:17:26

Salzer Electronics Limited (BSE: 517059, NSE: SALZERELEC), among leading players offering total and customised electrical solutions, announced its unaudited financial results for the third quarter and nine months ended 31st December 2018. These financials are as per the IND AS accounting guidelines.

- 9M FY19 Net Revenue at Rs. 404.7 crore increase of 28% YoY - mainly driven by wires & cables and building segments

- 9M FY19 EBITDA at Rs 46.8 crore - YoY growth of 27% - growth across all business segments

- 9M FY19 Profit After Tax at Rs. 15.6 crore - YoY growth of 3%

- Received prestigious ISO TS 16949 certification for magnetics and wires & cables business divisions

Commenting on the results, Mr. Rajesh Doraiswamy, Joint Managing Director and Chief Financial Officer, Salzer Electronics Ltd said: "This nine months FY19, we have demonstrated revenue growth of 28% YoY, on account of higher contributions from wires & cables and building product segments, despite a challenging industry scenario and rising cost of raw materials.

Throughout the nine months FY19 our products namely three phase dry type transformers, wire harness along with our legacy product of cam operated rotary switches has shown good traction in the industrial switch gears segment and we have been able to increase our sales of Modular Switches, MCB's Distribution Boards, Changeovers, wires & cables which has helped us grow in India.

We continually focus on adding new high margin products under our product portfolio, reach out newer geographies and offer total customized solutions to our customers. Our focus also remains on new opportunities for technical associations/acquisition to further strengthen our base of product offerings."

Shares of SALZER ELECTRONICS LTD. was last trading in BSE at Rs.116.7 as compared to the previous close of Rs. 111.9. The total number of shares traded during the day was 7558 in over 145 trades.

The stock hit an intraday high of Rs. 122.3 and intraday low of 108. The net turnover during the day was Rs. 896995.

Source: Equity Bulls

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