Agarwal Industrial Corporation Limited shines again, reports 277% growth in PAT in Q1FY22 (YOY)
Aug 18, 2021
Mumbai (Maharashtra) [India] August 18 (ANI/PNN): Agarwal Industrial Corporation Limited, one of India's largest integrated players in Bitumen, continued its growth trajectory closing the first quarter of FY 2021-22 with triple-digit growth in both top and bottom line.
The Consolidated Revenue of the Company grew 177 per cent (YoY) to Rs 407.94 Crore. The company, along with its subsidiaries, continued to maintain its track record of consistent growth performance. The consolidated profit after tax grew 277 per cent YoY to Rs. 15.07 Crore.
The company has built a credible track record in building scale and delivering high growth consistently. PAT margin of the company stood at 3.68 per cent as compared to 2.7 per cent in the last quarter. The Board of the Company has declared a final dividend of Rs 1.80, subject to the approval of shareholders.
Commenting on the successful results:
Lalit Agarwal, Whole Time Director, Agarwal Industrial Corporation Limited, said, "AICL is consistently pursuing its goal of accelerated high-value growth. In the first quarter, once again, we delivered - with strong and profitable growth in all businesses. The strong performance of our company was demonstrated in the first quarter by triple-digit revenue growth and increased profitability. With a strong liquidity position, a demonstrated ability to deliver execution and profitability, we are confident of weathering the crisis as well as to capture opportunities in a resilient non-recession market of Bitumen."
Jaiprakash Agarwal, Managing Director, Agarwal Industrial Corporation Limited, said: "Q1FY22 marks yet another robust quarter with strong progress driven by petrochemical business. This quarter led to the successful acquisition of Agarwal Translink Private Limited, which is believed to be a definitive step toward strengthening financials and unlocking of higher value and greater opportunities in the logistics segment. Our endeavor to strengthen our balance sheet and improve business visibility and stability continues - which will be forming the basis for growth going forward."
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