Frontier Springs Ltd. — Earnings Release 2024

May 27, 2024

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Dhruv
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Bhasin

Digitally signed by Dhruv Bhasin Date: 2024.05.27 15:24:19 +05'30'

Q4 & FY24 PRESS AND MEDIA RELEASE

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Kanpur, May 27, 2024

FRONTIER SPRINGS, INDIA’S LEADING PLAYER IN HOT COILED COMPRESSION SPRINGS ANNOUNCED ITS FINANCIAL RESULTS FOR Q4 & FY24.

FOR QUARTER ENDED MARCH 31, 2024

REVENUE FROM OPERATIONS

EBITDA

₹ 44.14 Cr

₹ 7.42 Cr

51.42% Y-O-Y 101.11% Y-O-Y

PAT

₹ 5.05 Cr

132.72% Y-O-Y

FOR YEAR ENDED MARCH 31, 2024

REVENUE FROM OPERATIONS

₹ 135.42 Cr

26.14% Y-O-Y

EBITDA

PAT

₹ 20.77 Cr

₹ 12.99 Cr

64.06% Y-O-Y 79.42% Y-O-Y

Commenting on the performance, Kapil Bhatia , Managing Director, said:

We are pleased to report a strong performance for FY24, marked by significant growth across our product segments. Both coil springs and air springs have been key contributors to our robust performance during the year.

Our coil springs segment has seen substantial demand, and we have secured significant orders that set a strong foundation for FY25. The air springs segment has also performed well, with a notable order from the Indian Railways. This order is progressing on schedule, and we anticipate continued strong demand in the coming quarters.

furthermore, we are on track with the installation of our 6-ton hammer, which is expected to begin commercial production by mid-Q2FY25. This new capacity will enable us to produce higher tonnage forgings and cater to new industries, enhancing our product offerings and margins. We expect this investment to start contributing to our performance from Q3FY25.

Looking ahead, we are confident in our ability to achieve ₹ 250 crores in sales for FY25. The strong start to the year, coupled with robust order book, positions us well for sustained growth. The ongoing modernisation and expansion of the Indian Railways present significant opportunities, and we are well-prepared to capitalise on these developments.

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Q4 & FY24 PRESS AND MEDIA RELEASE

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Financial Highlights

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|₹|I N CRORE|
|PARTICULARS|Q4FY24|Q3FY24|Q4FY23|Q-O-Q|Y-O-Y|FY24|FY23|Y-O-Y|
|Revenue From Operations|44.14|33.02|29.15|33.66%|51.42%|135.42|107.36|26.14%|
|Other Income|0.46|0.05|0.21|829.29%|119.05%|0.61|0.64|-4.69%|
|Total Income|44.60|33.07|29.36|34.85%|51.91%|136.03|108.00|25.95%|
|Total Operating Expense|36.72|27.86|25.46|31.80%|44.22%|114.65|94.70|21.07%|
|EBITDA|7.42|5.16|3.69|43.71%|101.11%|20.77|12.66|64.06%|
|EBITDA Margin (%)|16.81%|15.63%|12.65%|118 bps|415 bps|15.34%|11.79%|355 bps|
|Finance Cost|0.06|0.04|0.06|40.96%|-0.34%|0.20|0.33|-39.39%|
|Depreciation And Amortisation Expenses|1.08|0.86|0.97|25.03%|11.34%|3.71|3.20|15.94%|
|Profit Before Tax|6.74|4.31|2.87|56.52%|134.84%|17.47|9.77|78.81%|
|Profit After Tax|5.05|3.22|2.17|56.77%|132.72%|12.99|7.24|79.42%|

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About Frontier Springs Limited

Founded in 1981, Frontier Springs began its journey as a manufacturer of Leaf Springs and Laminated Bearing Springs for Automobiles and Railways. Today, the company primarily produces Hot Coiled Compression Springs and forging items, catering especially to the needs of Wagon, Locomotives, and Carriage sectors. Registered with RDSO since 1990, Frontier Springs is a trusted supplier to the Indian Railways.

Frontier Springs’ manufacturing prowess is spread across two state-of-the-art facilities located in Kanpur, Uttar Pradesh, and Poanta Sahib, Himachal Pradesh. The company's portfolio has witnessed significant diversification, now encompassing forging items from 100 gm to 20 Kg and a specialised Spring Division that addresses the needs of both national and international heavy engineering sectors. Recently, the Company made a strategic foray into the production of Air Springs, marking a significant expansion in its product portfolio.

For further details, please get in touch

Dhruv Bhasin Abhishek Mehra Company Secretary Investor Relations Advisor Frontier Springs Limited TIL Advisors c.s@frontiersprings.co.in abhishek@theinvestmentlab.in

Safe Harbour

This document which have been prepared by Frontier Springs Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This document has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Document. This Document may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Document is expressly excluded.

Certain matters discussed in this Document may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict.The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Document. The Company assumes no obligation to update any forward-looking information contained in this Document.

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