Agarwal Industrial Corporation announced staller Q1 results, PAT surged by 41.44%
New Delhi: Agarwal Industrial Corporation Limited, India’s largest Private sector player in bitumen sector has released its highest ever financial results for the period ended on 30, June 2024. For Q1FY25, Company reported 12.69% year-on-year (YOY) jump & consolidated revenue of Rs. 709.24 crores. EBIDTA (earnings before interest, taxes, depreciation, and amortization) margin saw a huge increase of 46.53% at Rs.61.71 Crore. PAT (Profit after tax) stood at Rs.39.00 crore with a significant increase of 41.44%. Company has reported volume growth of 26.60% & highest ever 1st quarter volume of 170,478.36 MT. The Board of Directors have approved dividend of Rs. 3 per Equity Share of the face value of Rs. 10/- for FY23-24.
The Company is a largest bitumen player in the private sector in India & functions as an Infra-ancillary for the transport & logistics segments. It also provides logistics for bulk bitumen and LPG. The Company has 7 manufacturing facilities, portfolio of more than 20 products with its own fleet size of 10 vessels having capacity of around 1, 02,049 MT.
In January, Agarwal Industrial Corporation has bagged tenders to supply bulk bitumen from Bharat Petroleum Corporation for its Mumbai and Haldia locations aggregating to 45,000 MTs having value of Rs 232.60 crore and from Hindustan Petroleum Corporation for its Mangalore and Haldia locations aggregating to 1,50,000 MTs having approx. value of Rs.500 crore.
The Union Budget 2023-24 laid a strong foundation for infrastructure development with a total proposed expenditure of Rs 45,03,097 crore. The interim budget has allocated a staggering Rs 2, 72,000 crore for the Ministry of Road Transport and Highways which is a significant increase from previous year.
