India’s aluminium casting manufacturer Alicon posts 37% YoY rise in PAT for FY19

Alicon Castalloy Ltd (Alicon), one of India’s largest integrated manufacturers of aluminium castings, published financial results for the quarter and year ended March 31, 2019. The company reported total income of INR1,192.05 crore in FY19, an increase of 17 per cent from INR1,022.96 crore in FY18.

Profit after Tax increased 37 per cent year-on-year to INR52.95 crore in FY19. PAT was at INR38.68 crore in FY18. EBITDA rose by 27 per cent YoY to INR 149.61 crore in FY19 compared to INR 117.64 crore in FY18.

In Q4 FY19, total income stood at INR317.41, up 7 per cent YoY. Profit after Tax increased 24 per cent YoY to INR15.89 crore. EBITDA rose by 13 per cent YoY to INR41.10 crore compared to INR 36.51 crore.

Rajeev Sikand, Group CEO - Alicon Castalloy, said: “This robust performance has been achieved despite challenging demand conditions and a cyclical downtrend in the domestic auto industry. Our efforts to diversify the base of customers and industries served have yielded results as export revenues grew 25% in FY19, while non-auto revenues registered healthy growth with improved client metrics.

 We have also made progress on strategic plans and initiatives. In the Auto segment, we have enhanced the proportion of innovation based products in the product mix enabling us to report improved margins. In the non-auto segment, our offerings to sectors like Defense, Aeronautical, Healthcare and Power are gaining traction. We evaluate and expand our product suite on an ongoing basis to align offerings with changing technologies and emerging trends.

We are confident of sustaining our growth trajectory by leveraging our comprehensive product portfolio, diverse customer base, depth of innovation & R&D as well as global operations.”

The company offers products for automobiles, infrastructure, aerospace, energy, agriculture, defence and healthcare sectors.