Rico Auto Industries Ltd (NSE: RICOAUTO; BSE: 520008) is an established and reputed engineering group focused on the automobile industry. We manufacture and supply world-class high precision and fully machined components & assemblies both aluminum and ferrous - to leading OEMs across the Globe for Electric Vehicles, Electrified Vehicles and ICE Engine. Our multiple fully integrated production facilities are equipped to offer complete spectrum of services from designing of components to development of tools, casting and precision machining and assembly of auto components. We have strong in-house R&D Capabilities. The result of this exemplary service is the strong customer relationships we share with the most prestigious names in the Global Automotive industry. We have continued to remain a preferred supplier. RICO continually works towards adopting the latest technologies & achieving the highest levels of efficiency, productivity - so as to sustain growth and deliver consistent value to both customers and stakeholders.
New Business:
- Won Business worth Program Value of INR 1,038 Cr with Peak Annual Value of INR 225 Cr during 9MFY24.
Term Debt:
- Reduced by INR 50 Cr during the 9 months of the F/Year. As of December 31 2023, the outstanding debt stood at INR 410 Cr on a Consolidated level and INR 354 Cr on a Standalone level.
Key Financial Highlights:
Total Revenue: The company reported total revenue of ?528 crore in Q3 FY24, marking a slight decrease from ?557 crore in the previous quarter (Q2 FY24). However, compared to the same quarter last year (Q3 FY23), the revenue remained relatively stable. The year-on-year change stood at -4.6%.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): The company's EBITDA for Q3 FY24 was ?63 crore, reflecting a moderate increase from ?57 crore in Q2 FY24. On a year-on-year basis, the EBITDA improved by 6.3% compared to ?59 crore in Q3 FY23.
EBITDA Margin: Company X reported an EBITDA margin of 11.9% in Q3 FY24, showing an improvement from 10.3% in Q2 FY24. The margin expansion of 122 basis points (bps) indicates enhanced operational efficiency and cost management strategies implemented by the company.
Net Profit: The net profit for Q3 FY24 stood at ?11 crore, representing a significant growth compared to ?6 crore in Q2 FY24. On a year-on-year basis, the net profit increased by 9.4% from ?10 crore in Q3 FY23.
Net Profit Margin: Company X achieved a net profit margin of 2.0% in Q3 FY24, up from 1.2% in Q2 FY24. The improvement of 25 bps underscores the company's efforts towards profitability enhancement and effective utilization of resources.
Earnings Per Share (EPS): The EPS for Q3 FY24 was reported at ?0.74, marking a positive growth trajectory from ?0.50 in Q2 FY24. The EPS witnessed a modest increase of 4.2% compared to ?0.71 in Q3 FY23.
Shares of Rico Auto Industries Limited was last trading in BSE at Rs. 92.70 as compared to the previous close of Rs. 95.45. The total number of shares traded during the day was 220837 in over 2792 trades.
The stock hit an intraday high of Rs. 97.55 and intraday low of 91.05. The net turnover during the day was Rs. 20728371.00. |
