La Tim Metal & Industries continues to deliver robust performance for Q3 of 2021-22
La Tim Metal & Industries continues to deliver Robust performance for Q3 of 2021-22
Mumbai (Maharashtra) [India], February 10 (ANI/PRNewswire): La Tim Metal & Industries (BSE: LATIMMETAL) (Script Code # 505693), a listed company in the flat steel trade since 1987 and dealing in Colour Coated Steel, continues to deliver Robust performance for Q3 of 2021-22.
Consolidated Earnings: EBIDTA up 39%, PBT up 36% and cumulative PAT at Rs. 1703.17 Lakhs
La Tim Metal and Industries Limited (Formerly Known As Drillco Metal Carbides Limited) is a Mumbai-based BSE listed company incorporated on 28th January, 1975 and on 22nd August, 1975 it was converted into a Public Limited Company. In the year 2010, the Company was acquired by Rahul Timbadia and his family members who are now the present promoters of the Company. The Company is mainly into the business of Manufacturing and trading of colour coated coils and profile sheets.
The company's expertise lies in providing end to end solutions which includes manufacturing products as per required specification to its customers. Providing right product for the right requirement at the right price is its motto. This has resulted in close ties with major customers within India. La Tim Metal & Industries is a part of India's growing steel industry which has direct correlation with the industrial development of the country and the company has shown continuously good revenue growth.
The growth levers include:
Continuous development of newer shades of colours and catering to small users as a part of value addition.
Development of newer designs on steel in flower, wood, marble, etc. where there is very limited competition.
Import of finished products for the South India market instead of from the production base of the company due to the logistical advantages and consequential value addition.
The strategic vision includes:
Geographical expansion in unrepresented areas.
Development of industrial parks in strategic areas, which is the need of the hour.
Creating and strengthening of a credible group image.
"Steel price had been trending downwards in the third quarter. It has become stable now and we consider that as an advantage. Once the price reaches the bottom, it has only one direction to move. Even if it doesn't rise, the steady price is a big opportunity for secondary manufacturers like us because our profit comes from value-addition by colouring and catering to various buyers as per their requirements. In a way, we are a specialist with limited production and catering to those who require customisation"
"We expect the last quarter of this financial year to have some recovery in demand and price, and consequential stability but the first quarter of the next financial year will have a rising momentum in the price with heavy pre-monsoon demand as one of the main application of our product being roofing and allied applications," said Rahul Timbadia. Besides, the recent budget has given a fillip to infrastructure growth, the major beneficiary being steel.
La Tim Steel imports and trades in colour coated steel sheets. It also owns and operates a manufacturing unit in Umergaon, Gujarat. La Tim Group are also in the business of Real Estate and Hospitality.
Its real estate company, 'La Tim Lifestyle & Resorts' initiated land trading and real estate development from Panvel and its surrounding areas. Currently, La Tim has a land bank in excess of 1000 acres spread out along the Khopoli Pali Road (State Highway 92), which is approximately 90 km from Mumbai and 95 km from Pune.
Some of its current projects include Samruddhi Farms - A Community Farming Initiative, Vasudha Estate - NA Plots, Vasudha Orchard - Agricultural Plots, Vasudha Waters - Pre-Fab Homes & Newly Launched Serenity Two.
La Tim Hospitality includes the well-known 'SAJ Resorts' brand which owns hotels in stunning locations such as Mahabaleshwar and Malshej Ghat, while also developing an upcoming hotel in Pench Tiger Reserve, 95 km from Nagpur. Additionally, it operates fine dining restaurants in Goa.
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First Published: Feb 10 2022 | 11:30 PM IST