Revenue from operations grew by 18% year on year to Rs 63.1 crore during the quarter.
Profit before tax stood at Rs 8.25 crore in the second quarter of FY24, up 60.19% as against Rs 5.15 crore posted in Q2 FY23.
EBITDA in Q2 FY24 was at Rs 9.04 crore, recording a growth of 52.1% on YoY basis. EBITDA margin improved to 14.3% in Q2 FY24 as compared to 11.1% reported in the same period a year ago.
Total expenses rose 13.61% YoY to Rs 55.08 crore in Q2 FY24. Cost of materials consumed stood at Rs 40.88 crore (up 22% YoY) while Employee benefits expenses were at Rs 5.61 crore (up 9.36% YoY) during the period under review.
As on 30 September 2023, the company reported its highest ever order book of Rs 190.79 crore.
The company has manufactured and sold 332 machines during the quarter, which is the highest ever for the firm in any quarter. Against this the company has received orders for 393 machines during the quarter.
Rupesh Mehta, chief managing director, said, “Our timely capacity expansion to 1500 machines per annum (which is being further enhanced by 25%), increase in manpower (backed by proper training), building key teams, focus on products and verticals have all started coming together to aid us in our growth and delivering this performance. A combination of higher value machines as well as increase in capacity utilization has been the key to improvement in our Gross margins, EBITDA margin and overall profitability .
We have significantly increased our focus in the defence and aerospace sectors which have seen the increasing need for our higher configuration machines. This has enabled us to deliver and execute some marquee orders like the supply of VMC machines to ISRO for the development of Chandrayan3, supply of machines for the development of T90 Tanks, and supply of machines to defence shipyards, amongst others.
We are aiming to grow at 18-20% CAGR for the next 3-5 years on the base of FY23 backed by an increasing order book, increasing manufacturing capacity, Increasing import substitution opportunity though our Nexa vertical, growth in manufacturing led by the government's “Make in India” programme and increasing opportunity in the defence and aerospace sectors.”
Macpower is engaged in in manufacturing of CNC Turning Centers, Vertical Machining Centers, Horizontal Machining Centers, Cylindrical Grinder, Vertical Turret Lathe, Turn Mill Centers, Drill Tap Center, Twin Spindle VMC and also Multi Tasking, 5-axis along with sub spindle.