Decorative aesthetic player SJS Enterprises announced that its total income in Q1FY23 increased by 40% YoY to INR 105.5 crore compared to INR 75.3 crore in the same period last year.
Additionally, the company noted that its revenue from operations increased by almost 39% YoY to stand at INR 103.17 crore in the quarter. A press release from the company stated that its net profit also jumped by 71% YoY to INR 16.2 crore as margins improved by 280 bps to 15.4%. Its EBITDA grew 50% YoY to INR 27.8 crore on the back of strong operational efficiencies and EBIDTA Margin remained strong at 26.4%.
During the period, the company added Alladio, Benling India, Gravton Motors and Navbharat Edison Motor to its customer base and won several key projects from Whirlpool, Mahindra & Mahindra, Bajaj Auto, TVS, Maruti Suzuki and Samsung, among others.
Interestingly, Exotech, the brand's newly acquired business, also won its first business in the exports market by cross-selling chrome plated parts to Whirlpool, the release added.
K A Joseph, Managing Director, SJS Enterprises, said that the company expects strong growth across 2W, PV and consumer durables segments.
Sanjay Thapar, Executive Director & CEO, SJS Enterprises, said, 'We are confident of achieving 25% revenue growth CAGR in the next couple of years organically.'
He added that the company is in the process of acquiring a 7.5 acres of land at Pune to build a chrome plating facility. 'We are also adding new customers and geographies in our portfolio. We added Alladio in Argentina and bagged orders from additional two plants of Whirlpool in North America,' said Thapar.
The focus is on building mega accounts with global customers like Continental, Marelli, Stellantis and Whirlpool, among others.