Bonfiglioli Transmissions (BONFIG) Q4 23/24 earnings summary

Executive summary

• FY ended Dec. 31, 2023 revenue was Rs. 171,696 lakh, while profit after tax fell to Rs. 14,953 lakh from Rs. 17,145 lakh and EPS declined to Rs. 11.40 from Rs. 13.08.

• Auditors issued an unmodified opinion; the report noted that daily electronic-record backups were maintained on servers outside India.

Financial highlights

• Revenue from operations rose to Rs. 171,696 lakh from Rs. 158,177 lakh; other income was Rs. 1,446 lakh versus Rs. 1,155 lakh.

• Profit before tax was Rs. 21,168 lakh, down from Rs. 22,872 lakh; profit after tax was Rs. 14,953 lakh versus Rs. 17,145 lakh.

• Total expenses increased to Rs. 151,974 lakh from Rs. 136,460 lakh; cost of materials consumed was Rs. 113,128 lakh versus Rs. 99,188 lakh.

• Net cash from operating activities was Rs. 17,756 lakh, up from Rs. 15,647 lakh; cash and cash equivalents ended at Rs. 9,053 lakh versus Rs. 10,868 lakh.

• Trade receivables were Rs. 41,033 lakh versus Rs. 37,673 lakh; inventories were Rs. 33,156 lakh versus Rs. 26,284 lakh.

Segment performance

• Operations were reported as one business segment; all non-current assets were located in India.

• Product sales were Rs. 169,855 lakh versus Rs. 156,219 lakh; gearboxes contributed Rs. 127,113 lakh and gear motors Rs. 21,362 lakh.

• Revenue by customer location included India Rs. 96,174 lakh, China Rs. 52,319 lakh and USA Rs. 6,659 lakh; total external revenue was Rs. 169,855 lakh.