Shera Energy Announces Robust Q3 FY24 Financials, Showcasing a Remarkable 138% Surge in Net Profit

PNN
Mumbai (Maharashtra) [India], January 31: Shera Energy Limited. (NSE -SHERA), engaged in the business of manufacturing winding wires and strips made of non-ferrous metals, announced its unaudited Financial Results for Q3 FY24.
Consolidated Q3 FY24 Key Financials at a Glance:
* Total Income of Rs 207.01 Cr, YoY growth of 37.03 %
* EBITDA of Rs 8.37 Cr, YoY growth of 69.09 %
* Net Profit of Rs 5.22 Cr, YoY growth of 138.36 %
* EPS of Rs 2.34, YoY growth of 108.93 %
Consolidated 9M FY24 Key Financials at a Glance:
* Total Income of Rs 591.41Cr, YoY growth of 20.55%
* EBITDA of Rs 33.65 Cr, YoY growth of 35.03 %
* Net Profit of Rs 11.24 Cr, YoY growth of 75.08%
* EPS of Rs 4.98, YoY growth of 52.29%
Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited, said "We are delighted to report robust financial results for the third quarter, demonstrating our commitment to sustained growth and operational excellence. Our focus on innovation, quality, and customer satisfaction has contributed to our success. The positive trends in EBITDA Margin and Net Profit Margin reflect our operational efficiency and cost management efforts.
The expansion in Zambia is in line with our global diversification strategy, enabling us to tap into emerging markets and fortify Shera Energy's leadership position. As we navigate through dynamic market conditions, we remain dedicated to creating long-term value".
Highlights of Shera Energy Limited
-Strategic Business Expansion in October
Shera Group expands its business by acquiring Cable Manufacturing Machines, initiating a Rs 10 Cr cable plant at Rajputana Industries Ltd, planning a Rs 5.7 Cr shed for product manufacturing with a Rs3.5 Cr term loan, and installing a 1.4 MW solar plant to enhance cost-efficiency and margins for FY 2024-25 and beyond.
-Expands production capacity in November 2023
The Company made a 20% production capacity growth, reaching 18,600 tonnes per annum with the successful installation of additional machines, aligning with long-term strategic plans for sustainable growth.
-Disinvestment in Shera Infrapower Private Limited
Successful completion of sale of our investment in Shera Infrapower Private Limited
-Company registered in the name of Shera Zambia Limited in January 2024
Shera Energy Limited expands its international presence with the launch of subsidiary SHERA ZAMBIA LIMITED in Central Africa for production of winding wire and cables for Zambia and neighbouring countries.
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