Vindhya Telelinks Ltd. [NSE: VINDHYATEL, BOM: 517015], an Indian manufacturer of cables, and a part of the MP Birla Group, has announced its financials for Q1 of FY-24.
Vindhya Telelinks’ Q1 FY-24 Standalone Financial Figures
Vindhya Telelinks reported a standalone revenue of Rs. 850.82 crore from its operations for Q1 of FY-24, and a corresponding Profit After Tax (PAT) of Rs. 37.84 crore for the said quarter.
The company’s Earnings Per Share (EPS) stood at Rs. 31.93 for the quarter ended 30th June 2023.
Vindhya Telelinks’ Q1 FY-24 Consolidated Financial Numbers
YoY Comparison of Vindhya’s Financials: Q1 FY-24 vs. Q1 FY-23
Vindhya Telelinks’ revenue from operations soared to Rs. 850.82 crore in Q1 of FY-24, which is 2.71 times the company’s Q1 FY-23 revenue of Rs. 313.98 crore.
Vindhya’s Q1 PAT also exhibited an upward trend, rising to Rs. 58.84 crore in FY-24 from Rs. 38.19 crore during FY-23. This shows an impressive increase of 54.07% in the company’s Q1 PAT on a Year-over-year (YoY) basis.
Consequently, the company’s EPS exhibited a jump to Rs. 49.65 in Q1 of FY-24 from Rs. 32.22 reported for Q1 of FY-23.
QoQ Comparison of Vindhya Telelinks’ Financial Results: Q1 FY-24 vs. Q4 FY-23
On a Quarter-over-quarter (QoQ) basis, the company’s revenue from operations tumbled by 38.12% from Rs. 1,374.93 crore, which was clocked during Q4 of FY-23.
Vindhya’s PAT also showed a considerable drop of 41.92% from Rs. 101.31 crore, which was reported for the last quarter of FY-23.
This decrease in revenue and profit is natural since most cable manufacturers report the highest revenue and profit during Q4 of any financial year.
Vindhya Telelinks’ Segment-Wise Revenue Comparison
Cables: Vindhya reported Rs. 151.80 crore as revenue from this segment during Q1 of FY-24 against Rs. 151.90 crore in Q1 of FY-23. Thus, the company’s Q1 revenue from its cables business remained largely flat from FY-23 to FY-24, reflecting a marginal decrease of 0.07%.
EPC: Vindhya’s EPC business contributed the bulk of its total revenue for Q1 of FY-24. The company clocked Rs. 705.11 crore from its EPC business during the quarter ended 30th June 2023, which is 82.29% of its gross revenue (i.e., total revenue from all business segments before the deduction of inter-segmental revenue).
Further, Vindhya’s EPC Revenue for Q1 of FY-24 is 3.41 times its Q1 FY-23 EPC revenue, which stood at Rs. 206.87 crore.
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. The company reported a consolidated top-line of Rs. 2,900.11 crore for FY-23. Apart from its considerable EPC portfolio, Vindhya Telelinks manufactures a wide variety of cables such as Optical Fibre Cables, Copper Cables, Power Cables, Solar Cables, and Telecom Fibre Accessories.