Ajwa Projects (545016) Q4 23/24 earnings summary

Executive summary

• FY24 revenue from operations was ₹342,654.07 thousand; net profit rose to ₹30,118.80 thousand from ₹7,732.15 thousand in FY23.

• Fabrication works remained the core activity; the directors attributed improved profitability to higher turnover and better credit management.

• The auditor issued an unmodified opinion, finding the statements gave a true and fair view under Indian accounting standards.

Financial highlights

• Revenue from operations increased to ₹342,654.07 thousand from ₹287,460.41 thousand; total revenue was ₹343,826.14 thousand versus ₹288,025.09 thousand.

• Profit before tax was ₹41,761.57 thousand versus ₹11,522.31 thousand; net profit was ₹30,118.80 thousand versus ₹7,732.15 thousand.

• Employee benefit expenses rose to ₹212,071.21 thousand from ₹170,599.04 thousand; finance costs rose to ₹14,087.17 thousand from ₹7,987.18 thousand.

• Other expenses declined to ₹39,287.89 thousand from ₹55,850.93 thousand; depreciation increased to ₹2,114.63 thousand from ₹1,403.05 thousand.

• Operating cash flow was negative ₹10,711.97 thousand versus positive ₹663.54 thousand; closing cash and equivalents fell to ₹6,559.82 thousand from ₹13,652.72 thousand.

Segment performance

• Fabrication and erection contract income by location: Delhi ₹314,905.01 thousand, Gujarat ₹26,401.50 thousand and Maharashtra ₹1,347.55 thousand; equipment hire and scrap sales were nil.