PNN
Mumbai (Maharashtra) [India], June 1: Maiden Forgings Limited (BSE – 543874), one of the leading manufacturers of wide range of Bright Steel bars and wires from past 35 years has announced its Audited Financial Results for the FY24.
FY24 Key Financial Highlights
– Total Income of Rs 237.31 Cr, YoY growth of 7.30 per cent
– EBITDA of Rs 24.07 Cr, YoY growth of 7.90 per cent
– EBITDA Margin of 10.14%, YoY growth of 6 Bps
– PAT of Rs 9.72 Cr, YoY growth of 1.19 per cent
– PAT (%) of 4.10 per cent
– EPS of Rs 6.84
Commenting on the performance, Mr. Nishant Garg, Managing Director of Maiden Forgings Limited said, “FY24 begun on a highly positive note for us. Our listing on the BSE SME has provided a significant capital boost, enabling us to consolidate, expand, and increase our working capital.
We have witnessed impressive growth in our financial performance, driven by strategic initiatives, IPO funding, new customer addition and rising demand for our products. Although low steel prices have posed some challenges, our strong volume growth reflects our resilience and market strength.
Looking ahead, we are excited about the prospects for robust growth and enhanced operational efficiency. Our strong order book, increasing demand for our products, a growing share of value-added products in our revenue, and our strategic initiatives, consolidation, and expansion efforts position us very well for the future.”
Key Operational Highlights
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