SPR Auto Technologies (SHRIPISTON) Q4 21/22 earnings summary

Executive summary

• FY22 revenue from operations rose to Rs. 20,646.64 million from Rs. 15,965.95 million; EBITDA increased to Rs. 3,337 million from Rs. 2,351 million, and PAT to Rs. 1,635.64 million from Rs. 887.51 million.

• Performance benefited from higher production and sales, productivity, supply-chain streamlining, digitization and cost optimization; commodity-price increases weighed on profits.

• Exports climbed to Rs. 4,010 million from Rs. 2,798 million, with increased market share across segments and improved aftermarket performance in India and globally.

Financial highlights

• Total income was Rs. 20,938.76 million versus Rs. 16,161.75 million; profit before tax was Rs. 2,202.05 million versus Rs. 1,199.76 million.

• Net profit after tax before OCI was Rs. 1,635.64 million versus Rs. 887.51 million; total comprehensive income was Rs. 1,650.63 million versus Rs. 910.68 million.

• Operating cash flow was Rs. 2,193.18 million versus Rs. 1,898.62 million; net worth reached Rs. 12,550 million, up from Rs. 11,481 million.

Outlook and guidance

• Management targeted double-digit export growth over the prior year, conditional on global COVID and other crises; exports were expected to continue rising.

• FY23 domestic auto-sector growth was expected to be normal, with commercial vehicles potentially outperforming other segments; medium- to long-term sector prospects remained positive.

• Aftermarket, OE spares and exports were expected to support longer-term business resilience; e-mobility product and technology partners were being explored.