Gujarat Ambuja Exports (GAEL) Q2 23/24 earnings summary

Executive summary

• Q2 FY24 consolidated revenue ₹1,115.52 crore, up from ₹1,077.77 crore YoY; net profit ₹82.77 crore vs ₹64.10 crore.

• H1 FY24 consolidated revenue ₹2,278.51 crore vs ₹2,350.63 crore; net profit ₹153.67 crore vs ₹178.70 crore.

Financial highlights

• Q2 consolidated PBT ₹109.10 crore vs ₹83.59 crore YoY; H1 PBT ₹201.34 crore vs ₹238.97 crore.

• Q2 consolidated EPS ₹3.61 vs ₹2.80 YoY; H1 EPS ₹6.70 vs ₹7.79.

• Consolidated total income was ₹1,157.71 crore in Q2 and ₹2,347.24 crore in H1; no exceptional item was recorded.

Segment performance

• Maize Processing Q2 revenue ₹828.52 crore vs ₹788.69 crore YoY; segment result ₹110.65 crore vs ₹98.64 crore.

• Other Agro Processing Q2 revenue ₹272.19 crore vs ₹275.11 crore; segment loss widened to ₹17.30 crore from ₹15.34 crore.

• Spinning Q2 revenue ₹12.26 crore vs ₹11.70 crore; segment loss narrowed to ₹3.40 crore from ₹6.64 crore.

• Renewable Power Q2 revenue ₹2.55 crore vs ₹2.27 crore; segment result ₹1.61 crore vs ₹1.19 crore.

• H1 segment results: Maize Processing ₹210.96 crore, Other Agro Processing loss ₹27.47 crore, Spinning loss ₹6.48 crore, Renewable Power ₹3.15 crore.