CFO, Mr. Rajeev Ranjan added:
“Our financial performance in Q1FY25 demonstrates the robustness of our business model
amidst a challenging market environment. Despite a 5.18% decrease in total income to ₹107.22
Crore, our strategic focus on volume growth yielded an 8.58% increase in product volumes,
underscoring the resilient demand for our products. This growth is a testament to our market
positioning and the effectiveness of our expansion strategies in Europe, Asia, and India.
The decline in profitability, with PBT falling by 18.75% to ₹21.75 Crore and PAT reducing by
19.41% to ₹16.30 Crore, reflects the impact of increased COGS also affecting our margins.
Looking forward, we are enhancing our R&D capabilities and operational efficiencies,
positioning us for long-term growth. We are implementing manufacturing cost management to
improve our margins.
Looking to the future, our market diversification strategy is yielding positive results, particularly
in the European market, where shunt resistor sales improved by 134.40% off a modest base.
This growth, along with significant gains in Asia, demonstrates our ability to capture highgrowth segments and adapt to regional market dynamics. While sales in the Americas faced
challenges, we are optimistic about a gradual recovery as the EV market stabilises and demand
picks up.”
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