Jainam Ferro Alloys Results: Net profit surges over 604% in H2FY21
Jainam Ferro Alloys (I) Limited has announced its financial results for the half year ended on 30th September 2021.
Jainam Ferro Alloys (I) Limited has announced its financial results for the half year ended on 30th September 2021. The Company has reported a jump of 1394% in PAT in the first half of FY22 to Rs 1508.76 lakhs as compared to Rs 100.99 lakhs in the corresponding period previous year.
On a sequential basis, net profit surged over 604% from Rs 214.34 lakhs in H2FY21 period.
Raipur (Chhattisgarh)-based Jainam Ferro Alloys (I) Limited is a provider of Ferro Alloy products such as Ferro Manganese and Silico Manganese.
The total income of the ferro alloy producer rose 151 per cent on YoY basis to Rs. 9,050.72 lakhs in H1FY22, compared to Rs. 3,607.03 lakhs in H1FY21.
On a sequential basis, the total income jumped about 36.2 percent from Rs. 6,644.70 lakhs in H2FY21.
The EBITDA of the company rallied more than 892% to Rs. 2,104.24 lakhs in H1FY22 from Rs. 212.17 lakhs in the same period previous year. On a sequential basis, the EBITDA jumped about 400% from Rs. 420.51 lakhs in H2FY21.
The basic and diluted earnings per share (EPS) of the company jumped manifold, as much as 15 times to Rs 16.29 per share from Rs 1.09 in H1FY21. Sequentially, it jumped more than five times from Rs 2.31 per share.
In the financial year ended on March 31, Jainam Ferro Alloys (I) Limited reported a net profit of Rs. 315.33 lakhs in the financial year ended on March 31, 2021 with an total income of Rs. 10,251.733 lakhs.
Commenting on the financial performance, Archit Parakh, Chairman & Managing Director of Jainam Ferro Alloys (I) Limited said that, "The earnings in the first half has been highly enthusiastic, which has boosted our morale. The company management is committed to deliver growth oriented performance on every parameter by following top notch standards. The demand for metals and minerals has been rising across the globe. The super bull run in commodities and high global requirement of such products will aid the growth in coming months. Our focus is to continue the ongoing momentum and increase the value for our shareholders."
The Company came up with its IPO on NSE Emerge platform in October, 2021 with an Issue Price of Rs. 70 per equity share.
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