SJS focusing on futuristic technology products such as illuminated logos launched and automotive display cover glass under development
BENGALURU, Nov 11 (The CONNECT) - Decorative aesthetics industry leader SJS Enterprises Limited has posted a consolidated revenue at ₹ 116.94 crore a robust growth of 17.3% YoY, on back of 30.3% YoY growth in its automotive revenue segment, surpassing 2W and PV industry production combined growth of 12.1% YoY.
EBITDA grew on the back of higher sales, softening of raw material prices and operational efficiencies to ₹ 33.38 cr, a YoY growth of 24.5%. EBITDA Margin remained strong at 28.0%, expanding by 134 bps YoY. Net Profit (PAT) for Q2FY23 jumped 30.7% YoY to ₹ 19.95 cr on a margin of 17.1%, an improvement of 175 bps. Domestic sales clocked 22.9% YoY growth, on back of 35.4% and 31.1% YoY growth in 2W and PV, respectively. Despite the impact on exports, SJS maintained its sales momentum in Q2FY23.
The company continued its growth momentum by adding marquee customers like Skoda Auto Volkswagon India - for decals and 3D lux parts and Atomberg Technologies, a leading manufacturer of premium fans for domestic appliances in Indian market - for IML parts. SJS entered the FMCG premium segment with the addition of John Distilleries - for speciality decals. With the addition of BuymyEV and TI India, SJS now supplies to 12 customers in the EV space. SJS also won new orders from mega accounts like TVS Motors, Bajaj Auto, Royal Enfield, M&M and Whirlpool among others. The Company is proactively developing futuristic products such as Illuminated logos, Cover glass for automotive displays etc to remain ahead of the technology curve.
For the half-year ended Sept 30, 2022, SJS Enterprises delivered on its said guidance of 25% YoY growth, outpacing the industry growth. The company clocked revenues of ₹ 220.11 cr, growing at 26.5% YoY. SJS surpassed 2W and PV industry productions combined growth of 22.5% YoY with 38.9% YoY growth in automotive segment. Healthy operating EBITDA of ₹ 612.0 Mn, a robust growth of 34.8% YoY and strong margins of 27.2%. Net Profit (PAT) for H1FY23 rose significantly by 46.0% YoY to ₹ 36.16 cr, with a margin of 16.4%.
K. A. Joseph, Managing Director, SJS Enterprises Limited ascribed the growth to a strong customer relationship. “I am confident that going forward we will be able to further strengthen our customer relationships, develop new generation products, expand our reach and achieve our guided financial growth,” he said.
SJI is are already working with OEMs for futuristic products like Illuminated logos and cover glass technology for automotive centre stack displays etc and gearing up for the future with advanced technology products like IME and smart surface technologies which will enable a high growth trajectory for the Company, according to Sanjay Thapar, Executive Director & CEO, SJS Enterprises Limited.
