Sunday, May 19, 2024

Rajnandini Metals Ltd. Reports Earnings for Q3 & 9MFY23; PAT jumps 51% YoY

Rajnandini Metals Ltd. (NSE: RAJMET), a Haryana based Leading producer of Copper Continuous Casting Rods (CCR), has reported earnings for Quarter and 9 months ended 31
December 2022.

For the 9 months ended 31 December 2022, the company saw a 51% growth in PAT YoY, which rose from Rs. 6.83 Cr (9MFY22) to Rs. 10.32 Cr (9MFY23). The Revenue for the corresponding period came in at Rs. 701.50 Cr (9MFY23).

For quarter ended 31 December 2022, the Revenue rose 37% QoQ, from Rs. 185.20 Cr (Q2FY23) to Rs.253.14 Cr (Q3FY23). The PAT for the corresponding period was reported at Rs. 3.39 Cr (Q3FY23), a growth of 1.5% QoQ. Recently, the company had purchased land of approximate 55000 Sq. ft. at Bawal IMT, Haryana with the vision of expanding the business. With this, the company estimates that the turnover shall increase by Rs. 400 crore or more (annually) and profitability shall increase by Rs. 20 cr. or more (annually) and that the construction activity on the newly acquired land has already started. The company recently also received orders totaling to Rs.30.29 Cr from companies including KEI Industries Ltd, Metals India, etc.

Rajnandini Metals Ltd. is a Haryana based Leading producer of Copper Continuous Casting Rods (CCR). The company uses extensive refining procedures and modern machinery, and has 2 manufacturing plants spread across 2 acres with adjacent land parcels already acquired for expansion.

The company had clocked turnover of over Rs. 1000 crores in FY 2021-22 registering a growth of 63% YoY despite Covid situation. It has a Pan India reach and expanding business scope in 15 countries by nourishing the relationships with numerous buyers and suppliers. It has a Range of different drawing machines and annealers for further processing of copper rods.

The company owns convoy of trucks to eliminate any transportation issue including open bodied and close bodied trucks for meeting any logistic issues. Global reach of Rajnandini Metal is expanding to the entire world with its wide product-mix & marketing segments. Rajnandini Metal has created a rigid presence in the various segments like recycling industries, steel raw – materials, plastics, chemicals, petrochemicals & construction industries. Rajnandini Metal counts Havells, Syska, Unistar Cables, etc. amongst its clientele.

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