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Salasar Techno Engineering Results: Latest Quarterly Results & Analysis

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Salasar Techno Engineering Ltd. 17 Feb 2025 13:36 PM
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Q3FY25 Quarterly Result Announced for Salasar Techno Engineering Ltd.

Construction & Engineering company Salasar Techno Engineering announced Q3FY25 results

  • Revenue from Operations for Q3FY25 stood at Rs 3,751.8 million, marking a 23.5% YoY growth compared to Rs 3,038.8 million in Q3FY24. Sequentially, revenue grew by 33.3%, up from Rs 2,814.9 million in Q2FY25.
  • EBITDA was Rs 317.2 million for Q3FY25, compared to Rs 374.6 million in Q3FY24, reflecting a decline.Sequentially, it grew by 23.6% from Rs 256.6 million in Q2FY25.
  • PAT for Q3FY25 was Rs 119.4 million, down 28.8% from Rs 167.6 million in Q3FY24.Quarter-on-Quarter, PAT improved significantly from Rs 96.8 million in Q2FY25

Management commentary:

We are pleased to present the consolidated financial and operational performance for the third quarter. These strong results reflect our ongoing focus on execution and strategic growth. During this period, our revenue increased by 23.5% to Rs 3,751.8 million in Q3FY25 compared to Rs 3,038.8 million in Q3FY24. This significant growth in our top line is attributed to the successful execution of our order book.

Moreover, our EBITDA for Q3FY25 stood at Rs 317.2 million as compared to Rs 374.6 million in Q3FY24. While, PAT for Q3FY5 was  Rs 119.4 million as compared to Rs 167.6 million Q3FY24.

For 9MFY25, revenue grew by 13.0% to Rs 9,506.7 million, compared to Rs 8,411.0 million in 9MFY24. EBITDA stood at Rs 855.7 million in 9MFY25 as compared to Rs 859.6 million in Q3FY24. While, PAT for 9MFY25 was at Rs 321.1 million as compared to Rs 359.6 million in 9MFY24.

Additionally, the acquisition with EMC limited approved by National Company Law Tribunal (NCLT), significantly enhances our position in the EPC sector, leveraging EMC's expertise in handling complex projects and expanding our operational capacity. The inclusion of EMC's prime properties and its solar power plant, supported by a Power Purchase Agreement with NTPC, provides us with valuable strategic assets and a reliable income stream from renewable energy. This move not only strengthens our market reach and operational capabilities but also boosts our financial stability, positioning us for continued growth and success in the competitive EPC landscape.

In addition to the acquisition, we are also excited about the strategic merger with Hill View Infrabuild, which aligns with our vision for the future. This merger is designed to streamline operations, consolidate resources, and expand technical expertise, enabling us to undertake larger, more ambitious projects in the engineering and infrastructure sectors. By reinforcing financial stability and broadening our capabilities, we are positioning ourselves for sustained success in the evolving EPC landscape.

On the industry front, the transmission and distribution infrastructure sector is experiencing unprecedented growth, fueled by renewable energy investments and the ambitious National Electricity Plan (NEP). We are uniquely poised to lead the charge in revolutionizing energy networks, with our expertise in designing, fabricating, and deploying cutting-edge power transmission towers and EPC solutions.From cross-border interconnections to advanced technologies like hybrid substations and dynamic line rating, our innovative approach and end-to-end capabilities align perfectly with the industry's evolving demands. As rural electrification and green energy projects gain momentum, we stand ready to shape the future of sustainable infrastructure, driving growth and market leadership

Looking ahead, we remain steadfast in our commitment to delivering exceptional engineering and construction solutions to our customers while fostering sustainable growth for our stakeholders. We will continue to invest in our network, technology, and explore new opportunities for growth and innovation. We would like to express our sincere gratitude to our entire team for their unwavering dedication and support, standing tall with us through every challenge. Together, we look forward to achieving even greater success and driving a lasting impact in the industry."

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Construction & Engineering company Salasar Techno Engineering announced Q2FY25 results

  • Revenue growth by 2.2% YoY, which stood at Rs 2,814.9 million, compared to Rs 2,753.5 million in Q2FY24.
  • EBITDA also reflected this trend, increasing by 3% to Rs 256.6 million, up from Rs 249.2 million in Q2FY24.
  • PAT for Q2 FY25 rose to Rs 96.8 million, an increase from Rs 90.5 million in Q2 FY24, with margins reflecting an increase to 3.4% from 3.3% YoY.
  • Revenue saw an increase of 7.1%, totaling Rs 5,754.9 million in H1FY25 compared to Rs 5,372.1 million in H1FY24.
  • EBITDA increased by 11.0%, reaching Rs 538.5 million in H1FY25 compared to Rs 485 million in H1 FY24, while margins improved to 9.4%, up from 9.0% during the same period.
  • PAT saw an encouraging increase of 5.1% reaching Rs 201.7 million in H1FY25 compared to Rs 192.0 million in H1FY24, with margins slight decline to 3.5% from 3.6%.

The Management team of Salasar Techno Engineering said: We observed an increase in revenue growth by 2.2% YoY, which stood at Rs 2,814.9 million in Q2FY25, compared to Rs 2,753.5 million in Q2 FY24. Our EBITDA also reflected this trend, increasing by 3% to Rs 256.6 million in Q2 FY25, up from Rs 249.2 million in the same quarter last year, leading to an improvement in our margins.

On a positive note, our PAT for Q2 FY25 rose to Rs 96.8 million, an increase from Rs 90.5 million in Q2 FY24, with margins reflecting an increase to 3.4% from 3.3% YoY.

When we look at our half-year performance, revenue saw an increase of 7.1%, totaling Rs 5,754.9 million in H1 FY25 compared to Rs 5,372.1 million in H1 FY24. Our EBITDA increased by 11.0%, reaching Rs 538.5 million in H1 FY25 compared to Rs 485 million in H1 FY24, while margins improved to 9.4%, up from 9.0% during the same period. However, PAT saw an encouraging increase of 5.1% reaching Rs 201.7 million in H1 FY25 compared to Rs 192.0 million in H1 FY24, with margins slight decline to 3.5% from 3.6%.

As we review our export performance, we are pleased to report significant progress in both Nepal and Rwanda. In Nepal, we are actively engaged in a substantial project with the Nepal Electricity Authority (NEA), valued at approximately Rs 144 crores, focusing on the development of distribution lines. In Rwanda, we have successfully secured an order worth Rs 78 crores with the Energy Development Corporation Limited (EDCL) for a transmission line project. Our ongoing efforts in these regions reflect our strategic focus on international markets and our dedication to delivering high-quality solutions that meet the needs of our clients.

Additionally, we are pleased to announce that we have successfully acquired EMC. As a result, EMC's financials will be reflected in our consolidated financial statements by the end of November. Due to its advanced qualifications in the Transmission sector, EMC will prioritize its contributions in this area initially. This acquisition highlights our dedication to growth and our product range, and we look forward to the opportunities it will bring for our company and stakeholders

Looking ahead, we have a robust pipeline of orders expected to be completed in the upcoming quarters, providing us with stable visibility for FY25. Our strategic focus remains on enhancing order book , stabilizing operating cash flows, and reducing debt to fortify our balance sheet and enhance capital return ratios.

Result PDF

Construction & Engineering company Salasar Techno Engineering announced Q1FY24 results:

  • In Q1FY24, revenue from operations experienced a healthy growth of 24.30% reaching Rs 2,618.59 million in Q1FY24 compared to Rs 2,106.68 million in Q1FY23. This growth was primarily driven by the rising demand for customized steel structures and diversified EPC solutions, as well as the efficient execution of the order book.
  • EBITDA increased by 39.54% from Rs 168.99 million in Q1FY23 to Rs 235.81 million in Q1FY24 and EBITDA margins increased by 99 bps from 8.02% in Q1FY23 to 9.01% in Q1FY24 led by increase in the scale of operations and efficient utilisation of resources.
  • PAT was recorded at Rs 101.47 million in Q1FY24 from Rs 73.18 million in Q1FY23 surging by 38.67% YoY and PAT Margins increased by 40 bps from 3.47% in Q1FY23 to 3.88% in Q1FY24.

Commenting on the performance of Q1FY24, the management team of STEL said, “We are happy to share with you our robust financial and business performance for Q1FY24. Our revenue from operations increased by 24.30% from Rs 2,106.68 million in Q1FY23 to Rs 2,618.59 million in Q1FY24. Our EBITDA margins increased by 99 bps from 8.02% in Q1FY23 to 9.01% in Q1FY24 and PAT margins improved by 40 bps in Q1FY24 to 3.88% in Q1FY24 compared to 3.47% in Q1FY23.

Our expertise and strengths continue to be reflected in our strong order book which is worth Rs 14,350 million In the EPC segment, we are experiencing heavy traction and have secured orders from various sources in both domestic and international markets. The towers and poles segment is also experiencing strong demand from both domestic and international markets. This heightened demand is primarily being driven by the escalating need for telecom towers and robust advancements in establishing 5G services across India. In addition, there has been a notable increase in electricity demand on a YoY basis which has led to increased and healthy demand for our products used in the power T&D industry. Moreover, in our heavy steel structures division, the outlook is equally positive because of the robust infrastructure push by the government.

Further, our new state-of-the-art galvanization plant is nearing completion and the said expansion will allow us to manufacture monopoles up to 3 meters in diameter used in higher KVA transmission lines. This segment faces less competition owing to our strong presence and will act as a value-added product offering better margins and boosting our revenue visibility. This new plant also deploys step-ahead processes and cutting-edge technologies which will enhance overall efficiency in the manufacturing process and enhance margins.

We believe that the above expansion will aid us in capitalizing on opportunities that emanate from India’s transformative shift towards stainless steel and galvanized steel, departing from conventional offerings. This transition is closely tied to India's dedication to sustainable infrastructure and its progression towards clean energy and achieving net-zero emissions.

Lastly, we remain focused on our core mission of delivering exceptional engineering and construction solutions to our customers while driving sustainable growth to our stakeholders. We will continue to invest in our network and technology, while also exploring new opportunities for growth and innovation. We would like to conclude by thanking our whole team who have stood tall with us in every situation”.

 

 

Result PDF

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