Q3FY23 Quarterly Result Announced for SJS Enterprises Ltd.
Auto parts & equipment firm SJS Enterprises announced Q3FY23 results: Consolidated Q3FY23: Outperformed auto industry with 25.3% YoY growth in auto segment, compared to 3.9% YoY production volumes in 2W + PV segment Revenue at Rs 1,063.7 million, robust growth of 20.8% YoY EBITDA grew 25.3% YoY to Rs 284.0 million, Strong margin at 26.1% Adjusted net profit jumped 29.5% YoY to Rs 157.1 million, with margins at 14.8% Strong cash & cash equivalents position of Rs 1,431 million; debt-free company Added new customers – Foxconn in 2W EV segment and IFB Industries in Consumer Appliances Continued growing business with mega accounts by winning new orders from M&M;, Tata Motors, Toyota, Whirlpool, Electrolux and Royal Enfield Added sales representative in Columbia, thereby covering key markets of Latin America. Consolidated 9MFY23: Consistently maintaining ~25% growth, outpacing the industry Revenue at Rs 3,264.8 million, robust growth of 24.6% YoY EBITDA at Rs 896.0 million, a sturdy growth of 31.6% YoY, strong margin at 26.9%, Adjusted net profit rises to Rs 518.7 million, strong jump of 40.6% YoY, with a margin of 15.9%. Commenting on Company’s performance, KA Joseph, Managing Director, SJS Enterprises Limited, said, “It has been another good quarter for SJS. We are extremely positive on growth prospects for our business in the medium and long run, given the improved outlook for the automotive industry, especially with the expected recovery in 2W industry, premiumisation trends and positive customer response to futuristic technology development initiatives at SJS. We have a strong NPD team, who is working relentlessly to launch new products quickly, which will keep us ahead of the curve, helping us gain higher wallet share from our customers. We are very excited about our future products like cover glass, optical plastics, printed electronics, among others. With the addition of new products, it will help strengthen SJS’ position as a one-stop aesthetics solution provider in the automotive and consumer appliances segments. This will not only help widen our base of product offerings but also increase the total kit value of products that we offer to our customers.” Result PDF09-02-2023