Q4 FY23
- Growth in net sales moderated, but, stayed healthy with 10% (y-o-y) growth in Q4 FY23.
- Operating profit increased by 5.7% (y-o-y) in Q4 supported by easing price pressures.
- Operating profit margin improved to a four-quarter high of 16.4% in Q4.
- Interest coverage ratio improved to 6.1 in Q4 FY23 from 5.4 in the previous quarter.
- Total expenses rose 10.8% (y-o-y) in Q4, however, the pace of rise softened.
- Lower commodity prices impacted sales of iron & steel, non-ferrous metals, and crude oil sectors.
Full Year FY23
- Net sales rose by 22.2% on the back of improvements in demand and recovery in economic activity.
- Escalating cost pressures squeezed into profitability with operating profits rising by just 2.2%.
- Operating profit margin dipped to 14.5% in FY23, the lowest level seen in recent years.
- With rising interests and lower profits, interest coverage ratio fell to 5.5 in FY23 from 6.3 in FY22.
- Going ahead, corporate performance will be dependent on the unfolding of the global growth scenario and domestic demand conditions.
