Salasar Techno Q1 Results: Revenue Reached Rs 291.56 Cr, PAT At Rs 9.82 Cr

Salasar Techno has declared financial results for the quarter ended 30th June 2024. The company posted net revenue from operations of Rs 291.56 Cr which was Rs 261.74 Cr in the quarter ended June 2023.

The company said its net income stood at Rs 292.42 Cr in the quarter under review as against Rs 262.20 Cr in the year-ago quarter. The company's net expenses totalled Rs 279.34 Cr in Q1FY25 compared to Rs 248.56 Cr in Q1FY24. The quarterly net profit of Salasar Techno reached Rs 9.82 Cr in June 2024 quarter which was Rs 10.13 Cr in the same quarter of the previous fiscal.

In June, Salasar Techno Engineering has reported strong financial results for Q4FY24, demonstrating significant growth across various metrics.

The company's net sales rose to Rs 367.33 crore in March 2024, marking a 24.65% increase from Rs 294.70 crore in March 2023. Net profit also saw a rise of 15.73%, reaching Rs 16.97 crore, up from Rs 14.66 crore in the previous year. Additionally, the company's EBITDA increased by 22.88%, standing at Rs 38.67 crore, compared to Rs 31.47 crore in March 2023. However, the company's Earnings Per Share (EPS) fell to Rs 0.11 in March 2024, a decrease from Rs 0.48 in March 2023.

In a strategic move, Salasar Techno Engineering completed the acquisition of EMC Ltd in May 2024. The acquisition, valued at Rs 178 crore, was finalized with a balance payment of Rs 168 crore, following an e-auction facilitated by the liquidator. EMC Ltd, an engineering, procurement, and manufacturing (EPC) firm, was acquired to bolster Salasar's position in the market as a leading engineering and infrastructure company. This acquisition is expected to enhance the company's capabilities and market reach.

Furthermore, in March 2024, Salasar Techno Engineering secured seven contracts worth Rs 1,034 crore from Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO). These contracts, part of the Revamped Reforms and Results-linked Distribution Sector Scheme, involve providing full turnkey services in Coimbatore District, Tamil Nadu, excluding distribution transformers (DTs), poles, and base plates. The company will work to improve the distribution infrastructure, aiming to reduce losses and enhance operational efficiency across several districts in Tamil Nadu, including Tiruvallur, Kanchipuram, and Vellore, among others.

Established in 2006, Salasar Techno Engineering specializes in manufacturing large and heavy steel structures, offering customized steel solutions and comprehensive EPC services to various industries, including telecom, power, and railways. In December 2023, the company announced the issuance of bonus shares and considered increasing its Authorized Share Capital, reflecting its ongoing growth and commitment to enhancing shareholder value.