Krishca Strapping Solutions reports remarkable revenue growth and expands market presence

PNN

Mumbai (Maharashtra) [India], June 13: Krishca Strapping Solutions Limited (NSE Code: KRISHCA), a leading manufacturer and wholesaler of high tensile steel straps, strapping seals and strapping tools has announced its audited financial result for FY23.

Key Financials at a Glance:

FY23:

* Total Revenues at Rs 72.41 crore; up 286.81 per cent

* EBITDA at Rs 13.87 crore; up 330.75 per cent

* EBITDA Margin at 19.15 per cent Vs 17.20 per cent

* Net Profit at Rs 9.34 crore; up 518.54 per cent

* Net Profit Margin at 12.90 per cent Vs 8.07 per cent

* EPS at Rs 10.68 Vs Rs 2.22

Commenting on the performance, Lenin Krishnamoorthy Balamanikandan, Chairman & Managing Director, Krishca Strapping Solutions Limitedsaid, ''We are delighted to announce the remarkable growth in our revenues, which have quadrupled compared to FY22, demonstrating the effectiveness of our strategies and the strength of our market position. This substantial increase in revenues has been accompanied by a significant multiplication of our profits by six, highlighting our ability to capitalize on market opportunities and drive sustainable growth.

Looking ahead, we maintain a positive outlook on the demand for our products and anticipate strong performance in the current year. Furthermore, our entry into packaging contracts presents an exciting opportunity to further enhance our revenues and profitability. Leveraging our successful IPO funding, we are well-positioned to expand our production capacity and strengthen our balance sheet through loan repayment.

Our strategic focus remains on capturing a significant market share in the domestic market and expanding our presence in the export market. By delivering exceptional quality products and providing tailored solutions to our customers' needs, we aim to solidify our position as a leader in the industry. With the support of our dedicated team and valued stakeholders, we are confident in our ability to drive continued success and sustainable growth in the coming years."

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