FY24 Results & Performance highlights
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Aimtron Electronics Limited
FY24 Results & Performance highlights
Best in Class EBITDA Margins sustained at 24-25%
Net Profit growth swells by 57% for FY24
22nd June 2024, India: Aimtron Electronics Ltd (Bloomberg Code: AIMTRON IN | NSE Code: AIMTRON) has announced its financial results for the second half and full year ended 31st March 2024. The company’s shares were recently listed on the NSE-Emerge platform (NSE Exchange) on 6th June 2024.
Key Financial Performance highlights (Consolidated)
Particulars (Rs. Mn) | H2FY24 | H1FY24 | FY24 | FY23* (Restated) |
Revenue | 499.1 | 430.7 | 929.8 | 715.8 |
EBITDA | 123.8 | 113.2 | 236.3 | 165.7 |
PBT | 94.2 | 93.5 | 186.9 | 117.4 |
PAT | 65.7 | 71.0 | 136.0 | 86.3 |
Reported EPS (Rs) | 4.33 | 24.42 | 9.06 | 10.67 |
EBITDA Margin (%) | 24.80% | 26.30% | 25.41% | 23.15% |
PAT Margin (%) | 13.17% | 16.49% | 14.63% | 14.25% |
*restated numbers in line with RHP
Key Performance highlights [FY24 vs FY23 (restated)]
- Revenue stood at Rs 929.8 mn up 30% YoY
- EBITDA stood at Rs 236.3 mn up 42.5% YoY
- EBITDA Margin stood at 25.4% up 226 bps YoY
- Net Profit stood at Rs 136.0 mn up 57.5% YoY
- PAT Margin stood at 14.6% up 257 bps YoY
Major developments:
Order book / New customers and avenues for growth
- The company had an unexecuted order book of Rs 110 crore as on year end FY24 which is 1.2x FY24 revenue.
- During the first two months of FY25 (April-May) we had an order inflow of approximately Rs 20 cr.
- We signed an agreement with a USA based customer for supply of IoT devices.
- We are in discussion with a drone manufacturing company, in international markets, for supply of key parts.
IPO details
- The company successfully completed its IPO and listed share on the NSE Exchange on 6 June 2024.
- The IPO saw total subscription of 99.24x of whicho 69.93x was subscribed by QIBs o 202.74x was subscribed by Non Institutional Investors o 69.93x was subscribed by Retail Investors
- Part proceeds of the IPO were used to pay off our debts and the company is now debt free.
- Company has also initiated the process of setting up the SMT line from proceeds of the issue.
Way Forward
- The company is in the process of adding an SMT line by end of Q2FY25 which will enhance our capabilities in IoT, AI, Robotics and related domain expertise.
- Expand our customer base in international markets, including North America.
- The company is looking to grow at 40-50% CAGR for the next 3-5 years (on the base of FY24)
Commenting on the performance, Mr. Mukesh Jeram Vasani, Chairman & Managing Director said
“We have continued on our growth path in FY24 and we expect to better this growth over the next 3-5 years, whereby we aim to grow at 40-50% CAGR. We will support this by expanding and modernizing our capabilities, most notably those related to assembly of new AI chips, as well as our state-of-the-art 3D capabilities. Our customer base in international markets such as North America continues to expand across multiple key sectors. Post IPO, we have swiftly paid down our debt and ordered new machines for our new SMT lines, which we expect to be commissioned by end of Q2FY25. These aggregate efforts will help us grow at 40-50% CAGR for the next 3-5 years. This growth continues to be driven by our dynamic infrastructure, technologically advanced capabilities, and ever expanding customer bases in domestic and international markets.”
For further information, please contact
AIMTRON ELECTRONICS LIMITED NIKITA SHAH CFO E: cs@aimtron.com & cfo@aimtron.com | | KAPTIFY Consulting Investor Relations | Strategy | Consulting E: contact@kaptify.in | M: +91-8452886099
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Disclaimer
This document may contain certain forward-looking statements within the meaning of applicable securities law and regulations. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward‐looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward‐looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. Many factors could cause the actual results, performances, or achievements of the Company to be materially different from any future results, performances, or achievements. Significant factors that could make a difference to the Company’s operations include domestic and international economic conditions, changes in government regulations, tax regime and other statutes. The Company does not undertake to revise any forward‐ looking statement that may be made from time to time by or on behalf of the Company.