ASM Technologies (526433) Q2 23/24 earnings summary

Executive summary

• Standalone Q2 FY23 total income rose to ₹391.37 mn from ₹337.98 mn YoY, while consolidated total income fell to ₹507.85 mn from ₹649.96 mn.

• Consolidated results included a ₹27.49 mn net loss; guidance cited scaling new customers, revenue from completed trials, and the Semcon UK acquisition as a future contributor.

Financial highlights

• Standalone Q2 FY23 revenue was ₹391.37 mn, EBITDA ₹36.55 mn, and PAT ₹30.71 mn, versus ₹337.98 mn, ₹58.43 mn, and ₹3.11 mn, respectively, in Q2 FY22.

• Consolidated Q2 FY23 revenue was ₹507.85 mn, EBITDA ₹23.24 mn, and PAT -₹27.49 mn, versus ₹649.96 mn, ₹76.50 mn, and ₹24.81 mn in Q2 FY22.

• H1 FY23 total income was ₹659.33 mn standalone and ₹1,037.17 mn consolidated; PAT was ₹4.71 mn and -₹29.67 mn, respectively.

Outlook and guidance

• New customers are beginning to scale, and completed trials are expected to start generating revenue.

• The Semcon UK Engineering acquisition was expected to be accretive.