Kirloskar Ferrous Industries, India’s largest castings and pig iron manufacturer, announced its financial results for the second quarter and first half of financial year FY 2022 ended 30th September 2021.
Commenting on the Q2 FY 2022 results, R V Gumaste, Managing Director, KFIL, said “We are pleased with our Q2 FY22 performance. The revenue growth was 97% at Rs. 958 crore and PAT at Rs. 119.9 crore grew by 83% year on year. On the project side, we have commenced the project work for our Solapur Unit II. We have also started the project work for Coke oven and Power Plant Phase II. With all the proposed projects going as planned, we are positive about the growth path we have set ourselves on’’
Review of Q2 FY 2021-22 Financial Performance shows Operating revenue at Rs. 958.4 crore for Q2 FY22 vs Rs. 822.8 crore for Q1 FY22, a 16% increase Q-o-Q and 97% increase Y-o-Y.Â
EBITDA is reported at Rs. 186.9 crore for Q2 FY22 vs Rs. 212.5 crore for Q1 FY22; a 12% decrease Q-o-Q and 70% increase Y-o-Y.
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EBITDA margin is reported at 20% for Q2 FY22 vs 26% Q1 FY22 and 23% Q2 FY21; PBT at Rs. 160.6 crore for Q2 FY22 vs Rs. 186.4 crore for Q1 FY22, a 14% decrease Q-o-Q, and an 89% increase Y-o-Y and PAT at Rs. 119.9 crore for Q2 FY22 vs Rs. 139.5 crore for Q1 FY22, a 14% decrease Q-o-Q, and an 83% increase Y-o-Y.
Review of H1 FY 2021-22 Financial Performance shows Operating Revenue at Rs. 1,781.2 crore for H1 FY22 vs Rs. 699.3 crore for H1 FY21 a 155% increase Y-o-Y; EBITDA at Rs. 399.4 crore, H1 FY22 vs Rs. 122.4 crore for H1 FY21 a 226% increase Y-o-Y; and EBITDA margin at 22.4% for H1 FY22 vs 17.5% H1 FY21.
PBT at Rs. 346.9 crore for H1 FY22 vs Rs. 72.4 crore for H1 FY21 379% increase Y-o-Y; PAT at Rs. 259.4 crore for H1 FY22 vs Rs. 48.5 crore for H1 FY21 435% increase Y-o-Y.
The announcement takes note of the fact that due to COVID 19 lockdown last year, the plant was non- operational for 45 days. Also, Hiryur plant was commissioned in February 2021. This has resulted in lower base of H1 FY21.