Steel processing company BMW Industries reported a 42.7% rise in net profit to ₹21.62 crore for the July–September quarter, from ₹15.15 crore a year earlier, according to a regulatory filing on Thursday (November 5), The Economic Times and PTI reported.
The numbers
- Total income: ₹195.42 crore, up 33% from ₹146.96 crore
- EBITDA: ₹48.73 crore, up 25% from ₹38.98 crore
- EBITDA margin: 24.9%, against 26.5% a year earlier
- Diluted earnings per share: ₹0.96, against ₹0.67
- First half (April–September): profit up 34.3% to ₹40.74 crore; total income up 23.8% to ₹372.10 crore
Income grew faster than operating profit, which is why the margin narrowed even as profit rose.
The Bokaro plant
Chairman Ram Gopal Bansal said the company's existing business "continued to demonstrate operational resilience across all three core segments". The main milestone of the quarter was the first phase of its new downstream steel complex at Bokaro in Jharkhand: the colour-coating line received its consent to operate on October 5, taking the company into colour-coated steel.
As of September 30, the company had spent ₹516.4 crore on the Bokaro expansion, ₹208.9 crore from internal accruals and ₹307.5 crore in debt. About ₹60 crore had been capitalised towards the first phase of the colour-coating line by October 5. The focus now is on raising capacity use and ramping up the new facilities, Mr Bansal said.
BMW Industries has a joint venture with SAIL at Bokaro and manufacturing units in West Bengal and Jharkhand.
This article is for information only and is not investment advice.