Adhunik Metaliks Q4FY10 Consolidated Net profit rises to Rs 59 cr

Consolidated Net Sales jumps to Rs. 442.93 Crores

CONSOLIDATED

Q4FY10 performance

• Net Sales at Rs. 442.93 Crores, up 54%
• EBIDTA margin at 30.39% Vs 15.70 % in Q4FY09, up 1469 basis points.
• Net Profit at Rs. 58.59 Crores, up 1974%
• EPS at Rs. 4.74 Vs Rs. 0.31 in Q4FY09, up 1429%

FY10 performance

• EBIDTA margin at 27.75% vs 17.03% in FY09, up 1072 basis points.
• Net Profit at Rs. 137.35 Crores, up 198%
• EPS at Rs. 12.24 vs Rs.  5.05 in FY09, up 142 %

STANDALONE

Q4FY10 performance

• Net Sales at Rs. 375.40 Crores, up 63%
• EBIDTA margin at 18.88% Vs 14.30% in Q4FY09, up 457 basis points.
• Net Profit at Rs. 20.71 Crores, up 1888%
• EPS at Rs. 1.68 Vs Rs. 0.11  in Q4FY09, up 1427 %

FY10 performance

• EBIDTA margin at 19.39% vs 14.43% in FY09, up 496 basis points.
• Net Profit at Rs. 53.90 Crores, up 79%
• EPS at Rs. 4.80 vs Rs. 3.30 in FY09, up 45 %

Adhunik Metaliks Ltd, one of India’s fastest growing integrated alloy, special & construction steel manufacturing companies, with a strong presence in mining and power, reported Consolidated Net Profit of Rs. 58.59 Crores for the quarter ended March 31st, 2010 compared to Rs. 2.82 Crores during the corresponding period last year.

Consolidated Net sales for the period rose to Rs. 442.93 Crores as against Rs. 287.52 Crores in the corresponding quarter last year. Consolidated EBIDTA margin for Q4FY10 stood at 30.39 % as compared to 15.70 % in Q4FY09.

EPS for Consolidated results for the quarter was Rs. 4.74 as compared to Rs. 0.31 in Q4 FY09.

Consolidated net sales for the financial year 2009-10 rose to Rs. 1449.64 Crores and net profit for period jumped to Rs. 137.35 Crores.

Standalone Net sales for the quarter rose to Rs. 375.40 Crores, an increase of 63% as compared to the corresponding period last year. Standalone Net profit for the quarter stood at Rs. 20.71 Crores.

Standalone net sales for the financial year 2009-10 rose to Rs. 1258.58 Crores and standalone net profit for the period jumped to Rs. 53.90 Crores.
 
Commenting on the results, Mr. Manoj Kumar Agarwal, Managing Director, Adhunik Metaliks Ltd said: “India’s strong and stable growth trajectory is forecasted to continue and accordingly we are witnessing strong demand in special steel category. Our integration and optimization efforts in steel business are reaping benefits and are reflected in the company’s improving margins.”

Mr. Agarwal added, “In our mining business as well, we have continued our growth path and are further expanding our merchant mining business. Recently we have entered into a joint venture for Suleipat Iron ore mine.

About Adhunik Metaliks Ltd.
Adhunik Metaliks  Ltd  (AML)  is  a Rs. 1500 Crores flagship company of the Kolkata  based  Adhunik  Group. The company is a leading producer of specialty alloy steel. It has an integrated steel plant of 0.45 mmt capacity in Rourkela, Orissa and enjoys strong backward linkages in terms of captive iron ore and coal mines. 

The company’s wholly owned subsidiary OMML is engaged in the business of exploration, development, mining and processing of mineral assets. It is a leading private sector merchant miner with large reserves of high quality iron-ore and manganese-ore in Jharkhand and Orissa.

Last year the Group has ventured into the business of power generation through its subsidiary APNRL, which is presently setting up a coal based power plant of 540 MW at Jamshedpur. The project is backed by captive coal mines at Ganeshpur Block in North Karanpura range in Jharkhand. IDFC Project Equity fund is investing Rs. 250 Crores in this power subsidiary to part finance the equity requirement of the project.