Suprajit Engineering Ltd Share Price

Q4FY22 Quarterly Result Announced for Suprajit Engineering Ltd.

Auto Parts & Equipment firm Suprajit Engineering declares Q4FY22 result:

• The audited financial results establish a resilient performance by the Company for the year FY 2022.
• The chip shortage, both in India and globally, continued in Q4 FY22, disrupting production volumes across all the segments.
• The port congestion, container shortages, shipment delays and related costs continue to be high.
• It may be noted, the overall automotive volumes were at a multiyear low this year largely due to poor demand in the 2-wheeler segment in India.
• The commodity prices continued to increase during the quarter. We anticipate to receive certain price increases from the customers during the current and coming quarters, with a lag effect.
• Ukraine war has added additional uncertainty, further affecting production volumes in the EU.
• Covid-19 in India had minimal impact in Q4.
• The Board has recommended a final dividend of Rs. 1.10 (110%) per equity share of Re.1/- each for the year 2021-22, making the total dividend at Rs.2.00 (200%) as against the total dividend of Rs.1.75 (175%) per equity share of Re.1/- each, paid during the previous year. The aggregate of the dividend payout for the year under report is Rs. 276.78 Million against Rs. 243.27 Million paid during the previous year.
• Suprajit Group’s overall performance is in line with the guidance for the year.
• The planned expansion at Narasapura, near Bangalore, will be completed in the coming months.
• The new facility for a comprehensive aftermarket cable operations at Bommasandra Industrial area, Bangalore, is progressing as per the plan.
• Phoenix Lamps Division (PLD) completed its expansion during this quarter, to augment certain capacities.
• The Group’s consolidated growth at 12.2%, as against Indian automotive growth of 1.65% showing robustness of underlying business.
• The Group’s consolidated EBITDA at 14.1% is in line with guidance, despite significant cost headwinds during the year.

Result PDF