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Industrial Machinery company Lloyds Engineering Works announced Q3FY24 & 9MFY24 results:
Financial performance:
Revenue:
- Q3FY24 saw the highest ever quarterly revenue at Rs 201.4 crores, marking a 245% increase YoY.
- 9MFY24 revenue witnessed a significant rise of 214% YoY, amounting to Rs 436.3 crores.
EBITDA:
- EBITDA for Q3FY24 reached Rs 36.9 crores, an increase of 76% YoY.
- The 9MFY24 EBITDA also grew by 79% YoY, standing at Rs 78.7 crores.
- EBITDA Margins for Q3FY24 were at 18.2%.
PAT:
- PAT in Q3FY24 was recorded at Rs 27.1 crores, up by 112% YoY.
- For 9MFY24, the PAT rose by 93% to Rs 58.7 crores.
Order Book:
- The order book grew by 55% YoY for 9MFY24, reaching Rs 746 crores.
- Lloyds Engineering Works revealed a robust pipeline of orders/enquiries worth approximately Rs 450 crores.
Rights Issue:
- The recent right issue was oversubscribed by 2.7 times.
Operational and Strategic Developments:
- The area under manufacturing has expanded by 2.6 times in the last two years.
- The company has made significant technological tie-ups to enhance its engineering product and solutions portfolio.
Mr. Mukesh Gupta, the Chairman, commented on the performance: "We are pleased to share the exceptional achievements of our company in Q3 and 9M FY24, representing a transformative phase in our journey. We are proud to announce that we have achieved the highest quarterly revenue, with an outstanding 245% YoY growth for Q3FY24 and an impressive 214% YoY growth for 9M FY24."
"Our order book has proven resilient, standing firm at 746 crores, showcasing a commendable 55% YoY growth. This resilience directly results from our steadfast commitment to excellence in execution, even during challenging periods."
"As we celebrate these achievements, we thank our dedicated team and valued stakeholders for their unwavering support. Together, we are embarking on an exciting journey into a more structured growth phase, with confidence and determination."
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