Remsons Industries, an automotive OEM components manufacturer, reported that its March quarter net profit doubled to ₹5.20 crore against ₹2.60 crore logged in the same period last year. Revenue was up 6 per cent at ₹81 crore (₹76 crore).
EBITDA was up 3 per cent at ₹8 crore (₹7.80 crore). In FY24, the company’s net profit was up 62 per cent at ₹13 crore (₹8 crore) and revenue was flat at ₹312 crore.
The company had raised ₹63 crore to meet long-term capital requirements, working capital requirements, fund new acquisitions and re-payment of unsecured loans.
Krishna Kejriwal, Managing Director, Remsons Industries said the profit was driven by higher value products, operational efficiency improvements and robust export realisations.
Future-ready position
The company is in future-ready position, thanks to the revolutionary changes brought about by digital transformation and solid intent to move up the value chain, he added.
The company will focus on strengthening the business model by climbing the value chain to ensure continued success, he said.
Headquartered in Mumbai, Remsons has state-of-the-art facilities in Gurgaon, Pune, Pardi and Daman in India and Stourport in the UK. Shares of the company were up 1 per cent at ₹916 at 2 pm on Thursday.