While revenue from operations for the quarter showed a growth of 16%+ over Q1, H1 revenue was lower by about 8% compared to H1 of F23 largely on account of lower export sales by Rs 47 cr.

The order booking continued to be robust with an additional order inflow of over Rs 340 Cr in H1 compared to H1 of F23. The orders in hand as of 30^th Sept 23 were Rs. 1,450 cr. This will help the Company in having strong H2 sales execution that will result in a sales growth over the previous year.

Profit before tax ( PBT ) for Q2 FY 24 was Rs 26.8 cr, a growth of 14% over Q1 FY 24 PBT of Rs. 23.5 cr. For the H1 FY 24, profit before tax was at Rs. 50.3 cr compared to Rs. 57.6 cr of previous year due to lower sales particularly in export market in the current period.

We launched Aria range of competitively priced standard air compressors to address the large market currently being served predominantly by imports.

With the commissioning of the Forging and Fabrication facility at Nashik, the company is now more vertically integrated and competitive in terms of offerings and speed of execution.

Compression business continues to be around 90%+ of the Company’s revenue and remains as the only reporting segment.

Review of Financial performance Q2 F24:

·       Revenue from operations for Q2 FY 24 were up by 16% over Q1 FY 24

·       Consequentially total Income stood at INR 286 cr as against INR 248 cr of Q1 FY 24

·       EBITDA margin however was at 12.5% in Q2 FY 24 compared to 13% in Q1 FY24 due to lower other income and cost of settlement of labour disputes.

·       PBT remained around 9.5% in both Q1 and Q2 of FY 24