Dhatre Udyog Ltd., a renowned industry leader in production of best TMT bars, in its board meeting held on November 14, 2023, has approved the unaudited Financial Results of the Company for the quarter and half year ended on 30 September 2023.
Commenting on the Q2FY24 & H1FY24 Performance, Management added, “We are thrilled to present an outstanding financial performance for both the second quarter and the first half of FY24. Our consolidated results demonstrate remarkable growth across key metrics, underscoring our unwavering commitment to driving sustainable value and excellence.
In Q2FY24, our Revenue from Operations surged by an impressive 165.56%, reaching Rs. 3892.32 Lakhs compared to Rs. 1465.73 Lakhs in Q2FY23. This robust growth trajectory can be attributed to implementation of efficient operational practices and cost management strategies, resulting in improved productivity, profitability and performance.
Our EBITDA for Q2FY24 witnessed a substantial increase of 53.68%, soaring to Rs. 294.13 Lakhs from Rs. 191.39 Lakhs in Q2FY23. This growth reflects our focus on operational efficiency and prudent management practices, contributing significantly to our bottom line.
Moreover, our Profit After Tax (PAT) for Q2FY24 registered an impressive uptick of 59.60%, reaching Rs. 192.14 Lakhs compared to Rs. 120.39 Lakhs in Q2FY23. This noteworthy growth underscores our ability to generate sustained profitability amidst evolving market dynamics.
Looking at the consolidated performance for the first half of FY24, we are pleased to report a substantial growth trajectory. Our Revenue from Operations for H1FY24 grew by an exceptional 301.23%, reaching Rs. 7927.21 Lakhs compared to Rs. 1975.74 Lakhs in H1FY23. This remarkable expansion highlights our resilience and ability to capitalize
on emerging opportunities.
In parallel, our EBITDA for H1FY24 increased by 49.65%, reaching Rs. 585.14 Lakhs compared to Rs. 391 Lakhs in H1FY23. This steady growth reaffirms our commitment to sustainable operational practices and prudent financial management.
Our PAT for H1FY24 also witnessed a substantial increase of 56.12%, reaching Rs. 391.62 Lakhs compared to Rs. 250.84 Lakhs in H1FY23. This commendable growth in profitability showcases the effectiveness of our strategic initiatives and operational excellence.
For full year FY24, we expect our Revenue to be in the range of Rs. 20,000 Lakhs, which represents a robust 86.74% growth over FY23. The growth is expected mainly due to increased plant capacity utilisation which results in improved productivity and profitability. Moreover, the company is led by a strong management team that has effectively steered
the organization towards growth, making informed decisions and implementing effective strategies. We expect FY24 EBITDA margins to be in the range of 8.5% to 9.00%.
These strong financial results are a testament to the dedication and hard work of our entire team. As we progress through the fiscal year, we remain committed to fostering innovation, operational efficiency, and delivering sustainable value to all our stakeholders. We thank our shareholders, customers, and employees for their continued support, and we are excited about the future as we continue to drive growth and success.”