Salzer Electronics Shines: Strong Growth and Smart Solutions Mark Fiscal Year 2024

Salzer Electronics Limited, a capital goods engineering company providing comprehensive and tailored electrical solutions, released its audited financial outcomes for the fourth quarter and fiscal year ending on March 31, 2024.

Salzer Electronics Limited has performed robustly across critical metrics. The company witnessed a significant year-over-year growth of over 12% in consolidated revenues, primarily fueled by its industrial switch gears and wires & cables businesses. EBITDA (excluding other income) for FY 2024 stood at ₹116.98 crore, marking a substantial 22% year-on-year growth. At the same time, the EBITDA Margin improved to 10.03%, representing a 78 basis points improvement compared to the previous year.

Additionally, the company reported a PAT of ₹47.07 crore for FY 2024, reflecting a noteworthy 19% year-over-year growth. Salzer Electronics also achieved BIS Certification for manufacturing Smart Meters, with trial production set to commence in June 2024. Furthermore, the Board has recommended a dividend payout of 25%; however, shareholders’ approval is pending.

Consolidated Financial Performance

Consolidated Financial Performance Highlights

Salzer Electronics Limited recorded a net revenue of ₹326.57 crore, marking a 7.87% year-over-year growth from ₹302.73 crore in Q4 FY 2023. EBITDA (excluding other income) for Q4 FY 2024 was ₹33.08 crore, showing a notable 34.09% year-on-year growth compared to ₹24.67 crore in Q4 FY 2023, mainly attributed to increased sales prices and higher contribution from the industrial switchgear business.

The EBITDA Margin for the quarter improved to 10.13%, representing a 198 basis points improvement year-on-year. Profit After Tax (PAT) stood at ₹13.32 crore in Q4 FY 2024, reflecting a significant 35.24% year-over-year growth from ₹9.85 crore in Q4 FY 2023. The PAT Margin for the quarter also improved to 4.08%, marking an 83 basis points increase from the previous year.

For the Full Year ended March 31st, 2024

For the fiscal year ending March 31, 2024, Salzer Electronics Limited reported a net revenue of ₹1,166.31 crore, demonstrating a notable 12.45% year-over-year growth from ₹1,037.17 crore in FY 2023.

EBITDA (excluding other income) for FY 2024 stood at ₹116.98 crore, marking a significant 21.98% year-on-year growth from ₹95.90 crore in FY 2023.

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