Precision Camshafts Limited (PCL) is a leading manufacturer and supplier of camshafts in India and globally. PCL is one of the few global players with technological capabilities across all the manufacturing processes - chilled cast iron, ductile iron, hybrid and assembled camshafts. Precision has announced its Standalone & Consolidated Un-audited Financial results for Quarter Ended June 30, 2019.
Highlights of Q1FY20 Standalone Financials:
- Revenue for Q1FY20 increased by 19.5% to Rs. 119.8 Crores YOY on account of higher camshaft volumes and better realizations for our products.
- EBITDA for Q1FY20 increased by 14.3% to Rs. 28.2 Crores YOY on the account of higher volume contribution from more profitable machined camshafts viz-a-viz camshaft castings.
- PAT for Q1FY20 increased by 36.9% to Rs. 10.3 Crores YOY higher volume contribution from more profitable machined camshafts viz-a-viz camshaft castings.
Highlights of Q1FY20 Consolidated Financials:
- Revenue for MET in Q1FY20 slightly decreased by 0.9% to Rs. 42.19 Crores YOY due to decrease in average rate of EUR.
- Revenue for Memco in Q1FY20 decreased by 17.21% to Rs.10.17 Crores YOY on account of reduced sales to a large client.
- Revenue for EMOSS in Q1FY20 increased by 258.5% to Rs. 29.68 Crores YOY due to increase in market demand for Electric Trucks.
Commenting on the Results, Mr. Yatin Shah, Chairman and Managing Director said, "Though there are demand issues in many markets, our product profile and the absence of many high quality focused players in Camshafts, is leading us to outperform competition. Our focus will now be towards increasing the utilization of Machined Camshafts which is a high margin product. All our acquisitions have been integrated and we are working towards increasing the utilization levels along with exploring cross client synergies. We remain optimistic on our growth given the wide-spread client profile, increased product basket with acquisitions and improved product mix."
Shares of Precision Camshafts Ltd was last trading in BSE at Rs.39 as compared to the previous close of Rs. 39.4. The total number of shares traded during the day was 2034 in over 67 trades.
The stock hit an intraday high of Rs. 40.9 and intraday low of 38.65. The net turnover during the day was Rs. 80864.