AI assistant
Kabra Extrusion Technik Ltd — Earnings Release 2023
May 10, 2023
62521_rns_2023-05-10_2898051d-43dc-4cb3-8fd7-1cc5f0800c99.pdf
Earnings Release
Open in viewerOpens in your device viewer
==> picture [137 x 42] intentionally omitted <==
KET/SEC/SE/2023-24/14 May 10, 2023
BSE Limited
Floor 25, Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001 Scrip Code: 524109
National Stock Exchange India Ltd.
Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai-400051 Stock Code: KABRAEXTRU
Dear Sirs,
Sub: Press Release on Financial results for the financial year ended March 31, 2023
In terms of the provisions of Regulation 30 of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, Please find attached the Press Release on Audited Financial Results (Standalone & Consolidated) for the Quarter ended and year ended March 31, 2023.
Kindly take the above submission on your record.
Thanking you,
Yours faithfully,
For Kabra Extrusiontechnik Limited
ANTONY Digitally signed by ANTONY PIUS PIUS ALAPAT Date: 2023.05.10 ALAPAT 20:05:02 +05'30' Antony Alapat Company Secretary
www.kolsite.com A Kolsite Group Company
Kabra Extrusiontechnik Ltd.
Fortune Terraces, B wing, 10th Floor, Link Road, Opp. Citi Mall, Andheri (West), Mumbai - 400 053. Maharashtra, India. Phone : +91-22-26734822/23/24/25 Fax : +91-22-2673 5041 Email : [email protected] CIN - L28900MH1982PLC028535
==> picture [126 x 90] intentionally omitted <==
Press Release
==> picture [43 x 25] intentionally omitted <==
==> picture [63 x 20] intentionally omitted <==
Kabra Extrusiontechnik Reports FY23 Results
Revenues at ₹ 6,700 Mn in FY23; up 65.1% YoY Battrixx revenues at ₹ 3,534 Mn in FY23; up 217.4% YoY
Mumbai, May 10[th] , 2023: Kabra Extrusiontechnik Ltd. (BSE - 524109, NSE - KABRAEXTRU, ISIN: INE900B01029), one of India's leading extrusion machinery company and emerging battery pack player, has announced its results for the quarter and financial year ended March 31, 2023.
Key Financial Highlights:
==> picture [464 x 325] intentionally omitted <==
----- Start of picture text -----
Q4 FY23
Revenues EBITDA PAT
₹ 1,780 Mn 9.4% YoY ₹ 234 Mn 18.7% YoY ₹ 124 Mn 1.6% YoY
FY23
Revenues EBITDA PAT
₹ 6,700 Mn 65.1% YoY ₹ 741 Mn 34.9% YoY ₹ 375 Mn 23.9% YoY
Segment Highlights:
Q4 FY23
Extrusion Battrixx
2.5% YoY 20.7% YoY
₹ 1,038 Mn ₹ 744 Mn
FY23
Extrusion Battrixx
7.7% YoY 217.4% YoY
₹ 3,198 Mn ₹ 3,534 Mn
----- End of picture text -----*
- includes other income
Press Release
==> picture [43 x 25] intentionally omitted <==
==> picture [63 x 20] intentionally omitted <==
Financial Performance: Q4 & FY23
| Particulars (₹ in Million) |
Q4 FY23 | Q4 FY22 | YoY | FY23 | FY22 | YoY |
|---|---|---|---|---|---|---|
| Revenues | 1,780 | 1,626 | 9.4% | 6,700 | 4,059 | 65.1% |
| EBITDA | 234 | 197 | 18.7% | 741 | 549 | 34.9% |
| PAT | 124 | 122 | 1.6% | 375 | 303 | 23.9% |
Commenting on the performance, Mr. Anand Kabra, Managing Director of Kabra Extrusiontechnik said, “Kabra Extrusiontechnik reported its highest ever operating revenues at ₹ 6,700 Mn in FY23 registering a strong growth of 65.1% YoY with both business segments reporting their highest ever revenues during the year. Battrixx revenues grew exponentially by 217.4% YoY at ₹ 3,534 Mn in FY23. The Extrusion business sales grew by 7.7% YoY at ₹ 3,198 Mn in FY23.
India’s Electric Vehicle (EV) sales surpassed the 1 million-units sales landmark for the first time in FY23. E-2-Wheelers contributed to 62% of overall EV sales during FY23 led by rise in EV adoption by individuals and higher penetration due to improvised charging infrastructure.”
He also added , “Battrixx was the first EV battery-pack manufacturer to be accredited with ARAI certification under AIS 156 Amendment III Phase 2 for its batteries, conceptualized and designed inhouse strategically with Hero Electric’s R&D team. Battrixx latest battery packs offers enhanced performance maintaining the highest safety standards. We are well placed to benefit from India’s aggressive 2030 EV roadmap of 100% electric vehicle nation.”
Financial Highlights for the Quarter Ended March 31, 2023:
-
Operating Revenues at ₹ 1,780 Mn in Q4 FY23 as compared to ₹ 1,626 Mn in Q4 FY22 – registering growth of 9.4% YoY
-
Extrusion Machinery revenues stood at ₹ 1,038 Mn in Q4 FY23 as compared to ₹ 1,013 Mn in Q4 FY22 - registering a growth of 2.5% YoY
-
Battrixx revenues surged by 20.7% YoY to ₹ 744 Mn in Q4 FY23. However, the growth was curbed mainly due to new battery standards becoming effective from April 2023, leading old inventory clearance and change of battery design at OEM’s end resulting into low offtake for new battery packs. This is a temporary phenomenon and EV sales is expected to pick up in the coming quarters with EV battery packs adhering to new norms.
-
EBITDA stood at ₹ 234 Mn in Q4 FY23 registering 18.7% YoY growth
-
Profit After Tax was at ₹ 124 Mn in Q4 FY23
-
EPS for Q4 FY23 stood at ₹ 3.54 as compared to ₹ 3.70 in Q4 FY22
Press Release
==> picture [43 x 25] intentionally omitted <==
==> picture [63 x 20] intentionally omitted <==
Additional update during Q4 FY23:
- Battrixx in a strategic partnership with Hero Electric’s R&D team received ARAI certification under AIS 156 Amendment III Phase 2 for its batteries before 31st March deadline. The aforesaid certification further enhances the EV battery’s overall performance coupled with highest safety standards.
Financial Highlights for the year ended March 31, 2023:
-
Operating Revenues at ₹ 6,700 Mn in FY23 as compared to ₹ 4,059 Mn in FY22 – registering growth of 65.1 % YoY
-
Revenue from Extrusion business grew by 7.7% YoY to ₹ 3,198 Mn in FY23
-
Battrixx revenues grew exponentially by 217.4% YoY to ₹ 3,534 Mn in FY23
-
EBITDA stood at ₹ 741 Mn in FY23 as compared to ₹ 549 Mn in FY22; up by 34.9% YoY
-
Profit After Tax was at ₹ 375 Mn in FY23 vis-à-vis ₹ 303 Mn in FY22; up by 23.9% YoY
-
EPS for FY23 stood at ₹ 10.72 as compared to ₹ 9.41 in FY22
Outlook:
India’s EV industry is a sunrise sector. The Company remains bullish on the industry’s growth for the coming years. Battrixx’s on-going capex plan for achieving around 2 Gw annual battery packs capacity in FY24. The Company is actively working on entering into new territories along with new customer acquisitions and increase its market share. Battrixx will foray into E-3-Wheeler battery pack in FY24. Additionally, the Company is working on E-4-Wheeler battery pack application.
Press Release
==> picture [43 x 25] intentionally omitted <==
==> picture [63 x 20] intentionally omitted <==
About Kabra Extrusiontechnik Ltd. (KET):
Kabra Extrusiontechnik (KET) is India’s premier manufacturer & exporter of extrusion plants. KET is a part of renowned Kolsite Group having over 6 decades of experience, more than 15,000 installations and presence in over 92 countries in Americas, Middle East, Asia and Africa. KET enjoys leadership position in the extrusion market. KET constantly endeavours to offer better solutions to plastics processors across the globe. Kabra Extrusiontechnik has set benchmarks in plastics extrusion industry by modern R&D techniques and various processes to cater the market requirements.
Battrixx is the future technologies division of KET. It is dedicated to developing and producing green energy systems and solutions that will power the growth of India’s transition into green energy storage and electric transportation. It is the largest chemistry agnostic battery pack manufacturer with a culture of continuous innovation through strong R&D capabilities. Battrixx provides real time data feedback loops to the OEMs. It has the capabilities to manufacture safe, optimum and regulatory compliant battery packs. Battrixx enjoys long term co-development partnerships with OEMs. The brand stands tall with state-of-the-art facilities for design, development and production in Chakan, Pune. The noble objectives are epitomised by the brand’s flagship product – advanced lithium-ion battery packs and modules for e-vehicles.
For more information, please visit: https://www.kolsite.com and https://www.battrixx.com
For further details please get in touch with:
Daulat Jain Chief Financial Officer Email: [email protected] Phone: +91 22 2673 4822
Hiral Keniya| Vikash Verma Ernst & Young LLP Email: [email protected] | [email protected] Phone: +91 9029662801 | +91 9664009029
DISCLAIMER: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Kabra Extrusiontechnik Limited (KET) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.