In Rs. Crores | Q3 FY23 | Q2 FY23 | Q3 FY22 |
Net Revenue | 23.3 | 24.6 | 34.8 |
EBITDA | 1.8 | 1.9 | 9.2 |
PBT | (0.6) | (0.5) | 5.5 |
PAT | (0.5) | (0.4) | 4.1 |
New Delhi, 9th February 2023: Cosmo Ferrites Limited, a leading manufacturer and exporter of Soft Ferrites and an emerging player in wire wound magnetic components today declared its financial results for the quarter ended December 2022.
The performance during the quarter both in terms of revenue and EBIDTA is flat QoQ due to subdued order flows from Europe (largely due to recession fears/chip shortages). This impacted the YoY performance on the revenue front and had a more than proportionate impact on EBIDTA.
Export orders flow had started picking up gradually. The company expects this should gain momentum in the coming months and together with the commissioning of new kiln in Q1 FY 23-24 for valued added speciality cores, there should be an uptick in the performance.
Commenting on the company’s performance Mr. Ambrish Jaipuria, Chairman, Cosmo Ferrites Ltd. said “The performance during the quarter remained affected due to same factors we experienced in the last quarter. We hope to see recovery in the coming quarters. We are working on some good prospects for substantial and steady business in the automotive sector (Electric Vehicles included). We expect customer approvals in FY 23-24 which should lead to significant margin expansion.”
About Cosmo Ferrites Limited
Established in 1986, Cosmo Ferrites Limited is the largest producer of manganese (MnZn) based Soft Ferrite cores in India. Cosmo Ferrites is also the leading soft ferrite core exporter from India exporting to more than 50 countries across the Globe. The Company has a State-of-the-art manufacturing facility located in the foothills of Himalaya in the State of Himachal Pradesh. The products manufactured go into multiple applications in Electronics industry. The Company is also into manufacturing wire wound magnetic components, a forward integration of Soft Ferrites.
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