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Alicon Castalloy announces Q2 FY20 Earnings

Posted On: 2019-10-18 13:22:54

Alicon Castalloy Ltd (Alicon), one of the largest integrated manufacturers of aluminium castings in India, announced its financial results for the quarter and half year ended September 30, 2019.

Financial Performance Highlights

Performance Review for Q2 FY20 vs. Q1 FY20*

- Total Income at Rs. 266.86 crore compared to Rs. 267.04 crore
- EBITDA at Rs. 35.35 crore compared to Rs. 27.84 crore, higher by 27%
- PBT at Rs. 13.30 crore as compared to Rs. 7.75 crore, an increase of 72%
- Profit after Tax at Rs. 9.36 crore compared to Rs. 5.08 crore, higher by 84%

*Note: Q2FY20 performance has been compared with Q1FY20 due to similar macro-economic conditions and industry dynamics prevailing during the respective periods

Performance Review for H1 FY20 vs. H1 FY19

- Total Income at Rs. 533.90 crore compared to Rs. 606.32 crore
- EBITDA at Rs. 63.19 crore compared to Rs. 73.29 crore
- PBT at Rs. 21.06 crore as compared to Rs. 38.82 crore
- Profit after Tax at Rs. 14.44 crore compared to Rs. 26.11 crore

Commenting on the performance, Mr. Rajeev Sikand, Group CEO - Alicon Castalloy, said "In the backdrop of an unprecedented slowdown in the Global & Domestic Auto Industry, we have reported lower volumes as customers have deferred production schedules. This, combined with our strategic decision to reduce inventory has led to lower total income of Rs. 267 crore in Q2 FY20. However, on a sequential basis, we delivered a meaningful improvement, both in terms of revenues and profitability. Even as we navigate the current turbulence in our industry, we are sowing the seeds for a more robust business model by expanding our innovative product offerings and augmenting our presence in various sectors like Infrastructure, Aeronautics, Defense, Energy and Agriculture. We have added a range of high-potential SKUs across auto, EV and non-auto segments and have also been focusing on improving overall business efficiencies. We are also continuously investing behind the right talent pool and new technologies to drive further differentiation.

We are confident that the automobile industry will bounce back stronger from the present day challenges. The upcoming safety and emission norms will enable a higher component content per vehicle, which will help boost demand for the entire auto-components industry over the medium to long term. Overall, we remain well-positioned to cater to the many opportunities and are optimistic of delivering a sustainable and healthy growth trajectory going forward."

Shares of Alicon Castalloy Limited was last trading in BSE at Rs.349.55 as compared to the previous close of Rs. 344.05. The total number of shares traded during the day was 10 in over 1 trades.

The stock hit an intraday high of Rs. 349.55 and intraday low of 349.55. The net turnover during the day was Rs. 3495.


Source: Equity Bulls

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