SJS DELIVERS STRONG PERFORMANCE IN Q2FY23

17.3% YoY development in Revenue and 30.7% YoY development in PAT

Q2FY23 (Consolidated)

• Revenue at ₹ 1,169.4 Mn, strong development of 17.3% YoY
• EBITDA grew 24.5% YoY to ₹ 333.8 Mn, Strong margin at 28.0%
• Net Profit jumps 30.7% YoY to ₹ 199.5 Mn, margins improved to 17.1%
• Strong Cash & money equivalents place of ~Rs 1,295.1 Mn; Debt free firm
• Added new clients – Skoda Auto Volkswagon India in automotive business, Atomberg Technologies, in home home equipment and entered the FMCG premium phase with John Distilleries
• Continued rising business with mega accounts by profitable new orders from TVS Motors, Bajaj Auto, Royal Enfield, M&M and Whirlpool
• Futuristic know-how merchandise – illuminated logos launched and automotive show cowl glass beneath growth

H1FY23 (Consolidated)

• Consistently sustaining ~25% development, outpacing the business
• Revenue at ₹2,201.1 Mn, strong development of 26.5% YoY
• EBITDA at ₹ 612.0 Mn, a sturdy development of 34.8% YoY, sturdy margin at 27.2%,
• Net Profit rises to ₹361.6 Mn, a robust soar of 46.0% YoY, with a margin of 16.4%

BENGALURU, India, Nov. 12, 2022 /PRNewswire/ — The Board of Directors at SJS Enterprises Limited (BSE: 543387) (NSE: SJS), considered one of India’s main gamers within the ornamental aesthetics business, right this moment permitted the audited monetary outcomes for the quarter and half yr ended September 30, 2022, for fiscal yr 2022-23. The Company delivered a robust and strong efficiency, outpacing the business, regardless of the slowdown in exports and shopper durables business, impacted by the continuing Ukraine – Russia battle and macro-economic headwinds.

Financial Highlights (Consolidated)

Financial Highlights (Consolidated)

For the quarter beneath evaluation, the Company has posted Consolidated Revenue at ₹ 1,169.4 Mn, a strong development of 17.3% YoY, on the again of a 30.3% YoY development in its automotive income phase, surpassing 2W and PV business manufacturing, mixed development of 12.1% YoY. EBITDA grew on the again of upper gross sales, softening of uncooked materials costs and operational efficiencies to ₹ 333.8 Mn, a YoY development of 24.5%. EBITDA Margin remained sturdy at 28.0%, increasing by 134 bps YoY. Net Profit (PAT) for Q2FY23 jumped 30.7% YoY to ₹ 199.5 Mn on a Margin of 17.1%, an enchancment of 175 bps. Domestic gross sales clocked 22.9% YoY development, on again of 35.4% and 31.1% YoY development in 2W and PV, respectively. Despite the influence on exports, SJS maintained its gross sales momentum in Q2FY23. 

The firm continued its development momentum by including marquee clients like Skoda Auto Volkswagon India – for decals and 3D lux components and Atomberg Technologies, a number one producer of premium followers for home home equipment in Indian market – for IML components. SJS entered the FMCG premium phase with the addition of John Distilleries – for speciality decals. With the addition of BuymyEV and TI India, SJS now provides to 12 clients within the EV area. The Company additionally received new orders from mega accounts like TVS Motors, Bajaj Auto, Royal Enfield, M&M and Whirlpool amongst others. The Company is proactively creating futuristic merchandise reminiscent of Illuminated logos, cowl glass for automotive shows and so forth to stay forward of the know-how curve.

For the half-year ended Sept 30, 2022, SJS Enterprises delivered on its mentioned steering of 25% YoY development, outpacing the business development. The firm clocked revenues of ₹ 2,201.1 Mn, rising at 26.5% YoY.  SJS surpassed 2W and PV business productions mixed development of twenty-two.5% YoY with 38.9% YoY development in automotive phase. Healthy working EBITDA of ₹ 612.0 Mn, a strong development of 34.8% YoY and powerful margins of 27.2%. Net Profit (PAT) for H1FY23 rose considerably by 46.0% YoY to ₹ 361.6 Mn, with a margin of 16.4%. 

Commenting on Company’s efficiency, MR. Ok. A. Joseph, Managing Director, SJS Enterprises Limited, mentioned, “We are delighted with our Q2FY23 performance. We remained prudently positive and have been able to outperform the industry. This growth is on account of strong customer relationships and our customers derive immense value from our continued focus on quality and delivery excellence. The 8 awards won by SJS during the quarter is a testament to the same. I am confident that going forward we will be able to further strengthen our customer relationships, develop new generation products, expand our reach and achieve our guided financial growth.“

“It has been another good quarter. We are extremely positive on growth prospects for our business, given the improved outlook for the automotive industry, premiumisation trends and positive customer response to Futuristic technology development initiatives at SJS. Despite near term geo-political challenges in global markets, we remain cautiously optimistic on exports. However, we are confident of achieving ~25% revenue growth CAGR in the next couple of years, while maintaining best-in-class margins. Driving value through new products will be one of the key drivers for future growth. We are already working with OEMs for futuristic products like Illuminated logos and cover glass technology for automotive centre stack displays etc.  We are also gearing up for the future with advanced technology products like IME and smart surface technologies which will enable a high growth trajectory for the Company,” added Mr. Sanjay Thapar, Executive Director & CEO, SJS Enterprises Limited.

About SJS Enterprises 

SJS Enterprises Limited (https://www.sjsindia.com) is without doubt one of the main gamers in Indian ornamental aesthetics business, which has one of many widest vary of merchandise with presence throughout conventional and premium merchandise. The Company offers in 11 product classes like decals, logos – domes & 3D lux, aluminium badges, 2D & 3D appliques, chrome plated components, overlays, In-moulding Decoratives/ Labeling, optical plastics, and lens masks meeting. These merchandise primarily serve two wheelers (2W), passenger autos (PV) and huge shopper durables (CD) industries together with industrial autos, medical gadgets, farm gear’s and sanitary ware segments. SJS has sturdy manufacturing footprint with 2 services in Bengaluru and Pune, and world distribution capabilities exporting to twenty+ international locations.

DISCLAIMER:

Certain statements which can be made within the Press Release could also be forward-looking statements. Such forward-looking statements are topic to sure dangers and uncertainties like vital modifications in financial atmosphere in India and abroad, tax legal guidelines, inflation, litigation, and so forth. Actual outcomes would possibly differ considerably from these expressed or implied. SJS Enterprises Ltd. won’t be in any means answerable for any motion taken primarily based on such statements and discussions; and undertakes no obligation to publicly replace these forward-looking statements to replicate subsequent occasions or circumstances.

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