Friday, 8 February 2013

Hind Rectifiers Q3FY13 Net Sales up 91.43% at Rs 32.6 Crore


 Hirect


Mumbai, February 8, 2013:

 Hind Rectifiers, a company engaged in designing and manufacturing industrial power electronics and power conversion devices, announced an increase of 91.43% in Net Sales at Rs 32.6 crore for the quarter ending December 2012 as against Rs 17.03 crore during the same period in the previous fiscal.

The Net Profit for the quarter stood at Rs 2.53 Crore. Operating profit (EBIDTA) increased by 385.18% to be at Rs 3.93 Crore as against Rs 0.81 Crore during the same period last year. Operating profit margins improved to 12.05% from 4.76% in Q3FY12. Earnings per share for the quarter stood at Rs 1.68.  


Q3FY13 vs. Q3FY12 Performance:

·        Net Sales at Rs 32.6 crore vs. Rs 17.03 crore, up 91.43%
·        Net Profit at Rs 2.53 crore
·        EBIDTA at Rs 3.93 crore vs Rs 0.81 crore, up 385.18%
·        EBIDTA margin at 12.05 % against  4.76%
·        Basic EPS at Rs 1.68


      9MFY13 vs. 9MFY12 Performance:

·        Net Sales at Rs 92.33 crore vs. Rs 61.79 crore, up 49.43%
·        Net Profit at Rs 6.06 crore vs Rs 2.39 crore, up 153.56%
·        EBIDTA at Rs 9.84 crore vs Rs 5.69 crore, up 72.93%
·        EBIDTA margin at 10.66 % against  9.21%
·        Basic EPS at Rs 4.03 as against Rs. 1.59

The Net Sales for the first nine months of FY 2013 stood at Rs 92.33 Crore as against Rs 61.79 Crore reported in the same period of FY12, an increase of 49.43%

The Net Profit for the nine months ending December 2012 was Rs 6.06 Crore, an increase of 153.56% as against Rs 2.39 crore during the same period in the previous fiscal. 

Operating profit (EBITDA) in the first nine months of FY 2013 was Rs 9.84 crore, 72.93% higher compared to Rs 5.68 crore in the same period a year ago. For the nine months ending December 2012, the operating profit margin was at 10.66 %, compared to 9.21 % in the previous year.

Earnings per share for the first nine months of FY13 stood at Rs 4.03.

Commenting on the company’s performance, Mr. S.K.Nevatia, Chairman and Managing Director, Hind Rectifiers said, “The quarter has been rewarding for us. We have introduced several new products which we have launched during the quarter. I am extremely pleased with the good set of numbers and hope to continue this trend in the coming quarters.”

About Hind Rectifiers:

Hind Rectifiers Limited, known as ‘Hirect’, was founded in 1958, in collaboration with Westinghouse, Brake & Signal, U.K. Hirect, listed on BSE and NSE, is engaged in developing, designing and manufacturing power electronics and power conversion devices for a wide range of end user industries such as Railways, Power, Telecommunication, IT, Steel, Non Ferrous metals, among others. The Company’s main manufacturing facility is at Bhandup, Mumbai while it also has a manufacturing facility at Nashik, Maharashtra and two plants at Dehradun, Uttarakhand. Its product portfolio includes Rectifiers, Transformers, Inverters, Converters, Semi-Conductors, Controllers and power supply system for Electro Static Precipitators.  The growth story of Hirect has been entwined closely with that of the Indian Railways, the latter being among the largest and longest client relationships of Hirect.

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