PPAP Automotive Limited - Q3 FY24 Results

PPAP Automotive Ltd. has declared its un-audited Financial Results for the Quarter and nine months ended 31st December 2023.

- Maruti Suzuki and SMG is the largest customer of PPAP and it contributes 48% to the overall revenues

- PPAP continues to supply plastic extrusion and injection molding parts to newer models across OEMs

Commenting on the results and performance for Q3 & 9M FY24, Mr. Ajay Kumar Jain, Chairman & MD of PPAP Automotive Ltd said: "During the quarter gone by, our revenue dipped by 4% to Rs 119.7 crore as compared to Rs 124.8 crore in the corresponding period last year.

EBITDA has increased from Rs 9.4 crore to Rs 10.9 crores. EBITDA margin have improved from 7.5% to 9.1% on a YoY basis. The EBITDA improvement is attributed to the softening of raw material cost.

The industry witnessed lower passenger car sales in Q3 due to seasonal impact and maintenance shutdown with car makers in the month of December. The capacity utilization stood at 70%. Going forward, we expect better sales and better financial results."

Shares of PPAP Automotive Limited was last trading in BSE at Rs. 240.05 as compared to the previous close of Rs. 237.00. The total number of shares traded during the day was 4130 in over 426 trades.

The stock hit an intraday high of Rs. 245.65 and intraday low of 232.00. The net turnover during the day was Rs. 984535.00.

Source : Equity Bulls

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PPAPAutomotive INE095I01015 Q3FY24 9MFY24 ResultUpdate