Salzer Electronics Revenues from operations at Rs. 90.2 crore, YoY growth of 30.0%

Salzer Electronics Revenues from operations at Rs. 90.2 crore, YoY growth of 30.0%

EBITDA at Rs. 10.1 crore, YoY growth of 23.8%

PAT at Rs. 3.4 crore, YoY growth of 4.6%

 Salzer Electronics Limited (BSE: 517059, NSE: SALZERELEC), a leading player offering total and customised electrical solutions, announced its results for the quarter and Nine Month ended 31 December 2015.

Key Financials (Rs. In Crore) :

Particulars	Q3FY16	Q3FY15	YoY	9MFY16	9MFY15	YoY
Revenue from operations	90.2	69.4	30.0%	262.3	205.9	27.4%
EBITDA	10.1	8.2	23.8%	34.1	26.6	28.5%
PAT	3.4	2.2	4.6%	13.1	8.6	52.2%

For the quarter ended December 31, 2015:

 Revenue from operations was at Rs. 90.2 crore in Q3FY16, as against Rs. 69.4 crore in the corresponding previous period, a YoY growth of 30.0%. Exports contributed to 29% of revenues

·         Breakup of revenue as per business segments:

§  Industrial Switchgear business - 48% of the total revenues, with YoY growth of 10%, in line with business strategy of focusing on profitable and high growth products

§  Buildings Products business – 5%, with YoY decline of  25%

§  Copper business – 36%, with YoY growth of 41%

§  Energy Management business – 11%, with YoY growth of over 789%

·         EBITDA at Rs. 10.1 crore in Q3FY16 as against Rs. 8.2 crore in the corresponding previous period, grew by 23.8% YoY

·         EBITDA margins at 11.2%, declined 53 basis points mainly on account of change in product mix, higher contribution from copper business and one time consultation and testing fees charged during the quarter for a new product

·         Profit After Tax was at Rs. 3.4 crore in Q3FY16 as against Rs. 2.2 crore in Q3FY15, YoY growth of 56.6%

For nine month ended December 31, 2015:

·         Revenue from operations was at Rs. 262.3 crore in 9MFY16, as against Rs. 205.9 crore in the corresponding previous period, a YoY growth of 27.4%. Exports contributed to 26% of revenues

·         Breakup of revenue as per business segments:

§  Industrial Switchgear business – 50% of the total revenues, with YoY growth of 23%

§  Buildings Products business – 4%, with YoY growth of  9%

§  Copper business – 34%, with YoY growth of 7%

§  Energy Management business – 12%, with YoY growth of over 368%

·         EBITDA at Rs. 34.1 crore in 9MFY16 as against Rs. 26.6 crore in the corresponding previous period, grew by 28.5% YoY

·         EBITDA margins at 13.0% as against 12.9% in the corresponding previous period

·         Profit After Tax was at Rs. 13.1 crore in 9MFY16 as against Rs. 8.6 crore in 9MFY15, YoY growth of 52.2%

·         The Company reported Earnings Per Share at Rs. 10.1 in 9MFY16 as compared to Rs. 7.8 in 9MFY15, YoY increase of 29.5%

Balance Sheet as on December 31, 2015

·         The Networth stood at Rs. 195 crore as against Rs. 107 crore as on March 31, 2015

·         The total debt was at Rs. 105 crore as against Rs. 93 crore as on March 31, 2015, mainly on account of increase in short term borrowings

About Salzer Electronics

Salzer is a Leading player offering Total and Customized Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. It is the largest manufacturer of CAM Operated Rotary switches & Wire Ducts in India, with a market share of 25% and 20% respectively. The Company caters to a wide range of products with five In-house manufacturing facilities, located in Coimbatore and Himachal Pradesh. The Company has a wide distribution network locally and globally, exporting to more than 40 countries. In India, Salzer markets its products through its own distributors and more than 350 local distributors of L&T. The Company has a strong R&D team that focuses on developing and commercializing the technologies of the products, and as a result, can offer total customized electrical solutions to its customers.

For further information, please contact:

Mr. Baskarasubramanian Salzer Electronics Ltd Email: baskarasubramanian@salzergroup.com   www.salzergroup.net

Nupur Maheshwari Adfactorspr Nupur.maheshwari@adfactorspr.com 9833229875

Caution Concerning Forward- Looking Statements:

This document includes certain forward-looking statements. These statements are based on management's current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors. Salzer Electronics is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

Share: