Press release on Q2 results
Sustained Growth Momentum
H1FY23 Revenue at ₹ 6068.9 Cr; up 25% YoY
H1FY23 EBITDA at ₹ 736.7 Cr; up 73% YoY
H1FY23 PAT at ₹ 493 Cr; up 82% YoY
Q2FY23 Revenue at ₹ 3332.4 Cr; up 11% YoY
Q2FY23 EBITDA at ₹ 426.8 Cr; up 46% YoY
Q2FY23 PAT at ₹ 270.5 Cr; up 37% YoY
Key Highlights (Q2 FY23)
• Revenue grew 11% YoY to ₹ 33,324 mn in spite of high base, declining commodity prices and burgeoning inflation on the back of healthy volume growth in Cables and Wires business
Wires and cables business revenue grew 13% on YoY basis to ₹ 29,259 mn. Domestic distribution driven business continued to see strong momentum. Institutional business too saw healthy growth.
Exports business exhibited strong growth of 75% YoY on a healthy base, contributing 13% to consolidated revenue in Q2 FY23
FMEG business de-grew 12% YoY to ₹ 3,032 mn mainly due to subdued demand environment, exacerbated by realignment in distribution strategy undertaken under Project LEAP to improve long-term business growth. Fans business was affected on account of seasonality, inflationary environment and transition to the new BEE regulations. Switch business recovered from the lows
of Q1FY23, posting 123% QoQ growth.
• PAT grew by 37% YoY to ₹ 2,705 mn from ₹ 1,978 mn in Q2FY22. PAT margin stood at
8.1% for the quarter
• As of 30th September 2022, net cash position improved to ₹ 16.7 bn against ₹ 8.7 bn
net cash during the same period last year
• The Company merged Fans vertical with Lights & Luminaries vertical and Retail Wires
vertical with Switches & Switchgears vertical to unlock latent value through crossselling opportunities and operational efficiencies.
4aafff57-4774-491f-bdff-45c60654c549.pdf (bseindia.com)
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