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Vindhya Telelinks FY-23 Financials: Revenue Grows Over Two-fold YoY but Profits Down

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Vindhya Telelinks Ltd. [NSE: VINDHYATEL, BOM: 517015], part of the MP Birla Group and an Indian manufacturer of cables has declared its financial results for the quarter and year ended 31st March 2023 public.

Vindhya’s Standalone Financial Figures – FY23

During the closing quarter of the recently concluded FY-23, the company clocked a standalone revenue of Rs. 1,374.93 crore. Vindhya’s Profit After Tax (PAT) for Q4 FY23 stood at Rs. 73.60 crore.

Considering entire 2022-23 financial year, the company’s top-line was Rs. 2,900.11 crore, while its PAT was reported as Rs. 154.30 crore.

Moreover, the company’s standalone Earnings Per Share (EPS) stood at Rs. 62.10 for Q4 of FY-23, and Rs. 130.20 for the entire 2022-23 financial year.

Vindhya Telelinks’ Consolidated FY23 Financial Results

YoY Comparison of Financials: Q4 FY-22 vs. Q4 FY-23 & FY-22 vs. FY-23

Comparison of Vindhya Telelinks’ Financials: Q4 FY22 vs Q4 FY23 vs Q3 FY23

For Q4 of FY-23, Vindhya Telelinks reported a consolidated revenue of Rs. 1,374.93 crore, which is 3.84 times the company’s Q4 revenue of Rs. 357.83 crore in FY-22. Therefore, there has been a massive YoY leap in the company’s Q4 top line.

Further, PAT of the company increased by 80.68% to Rs. 101.31 crore in Q4 of FY-23 from Rs. 56.07 crore clocked during the quarter ended 31st March 2022.

The company’s Q4 FY23 Earnings Per Share (EPS) were Rs. 85.48, which reflects an impressive Year-over-Year (YoY) increase of 80.68% from Vindhya’s EPS for Q4 of FY-22, which stood at Rs. 47.31.

Comparison of Vindhya Telelinks’ Financials: FY22 vs FY23

Considering the full financial year, Vindhya’s top line for FY-23 was Rs. 2,900.11 crore. This figure is 2.19 times the company’s revenue for the 2021-22 financial year, which was Rs. 1,323.95 crore. It is noteworthy that the company’s revenue for Q4 of FY-23 alone exceeds the total revenue reported by Vindhya for the entire FY-22.

Comparison of Vindhya Telelinks EPS: Q4 FY22 vs Q4 FY23 vs Q3 FY23 & FY22 vs FY23

PAT, however, was down, dropping by 4.12% to Rs. 185.31 crore in FY-23 from Rs. 193.28 crore in FY-22. The lower PAT in FY23 has been achieved on an over two-fold increased sales. Correspondingly, Vindhya’s EPS was Rs. 156.37 during 2022-23 from Rs. 163.09 in FY-22.

QoQ Comparison of Vindhya Telelinks’ Financials: Q3 FY-23 vs. Q4 FY-23

Quarter-over-Quarter (QoQ) analysis of the company’s financials reflects that its Q4 revenue was 2.15 times of its Q3 revenue of Rs. 638.27 crore during FY-23.

Vindhya’s Q4 PAT grew 3.58 times from Q3 PAT of Rs. 28.28 crore in FY-23.

EPS of the company echoed the trend followed by PAT, also growing to 3.58 times of its Q3 FY-23 EPS of Rs. 23.86.

Vindhya Telelinks’ Segment-Wise Revenue

Comparison of Vindhya Telelinks’ Segment-Wise Revenue: Q4 FY22 vs Q4 FY23 vs Q3 FY23 & FY22 vs FY23

Cables: For the quarter ended 31st March 2023, Vindhya Telelinks reported Rs. 207.38 crore as revenue from its cables business. This represents a YoY 38.37% rise from the company’s cable revenue of Rs. 149.87 crore clocked during Q4 of FY-22.

For the entire year, Vindhya Telelinks reported Rs. 762.32 crore as its revenue from cables, which represents a healthy increase of 36.07% from the company’s Rs. 560.25 crore FY-22 cable segment top line.

EPC: This segment accounted for the majority share in the company’s revenue during the quarter and year ended 31st March 2023. In Q4 of FY-23, the company’s revenue from this segment stood at Rs. 1,189.48 crore, accounting for 86.51% of the company’s total revenue. Further, for the entire FY-23, this segment brought in Rs. 2,270.43 crore, or 78.29% of Vindhya’s consolidated top line.

It is interesting to note that Vindhya’s EPC revenue reported for FY-23 is higher than the company’s total top line for FY-22.

Considering revenue trends, on a YoY basis, the company’s Q4 FY23 revenue from EPC segment was 5.51 times its Q4 FY22 revenue of Rs. 215.70 crore. Moreover, Vindhya’s Q4 revenue was 2.51 times its Q3 revenue of Rs. 474.01 crore EPC revenue during the recently concluded FY-23.

For the entire year, Vindhya Telelinks’ revenue from EPC segment earned during FY-23 was 2.64 times, or well over double, than its EPC revenue of Rs. 859.41 crore clocked during the year ended 31st March 2022.

About Vindhya Telelinks Ltd.: Vindhya Telelinks was formed as a Public-Private venture between Universal Cables Limited and the Madhya Pradesh State Industrial Development Corporation Limited. The company started production in 1986 from its plant at Rewa, Madhya Pradesh. Vindhya Telelinks Ltd., which is a member of the MP Birla Group, manufactures a wide variety of cables such as Optical Fibre Cables, Copper Cables, Power Cables, Solar Cables, and Telecom Fibre Accessories. The company also has a substantial EPC portfolio.