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VMPL
Rajkot (Gujarat) [India], November 18: Aditya Ultra Steel Ltd (NSE - AUSL) - Leading company engaged in the business of manufacturing rolled steel products i.e. TMT bars under the brand name 'Kamdhenu' has reported excellent operational and financial performance for the H1FY25 ended September 2024. Company was listed on the NSE -SME exchange on 16th September 2024 and reported its first half year results after listing. Highlights:- * Setting up 5,000 KWP solar power plant at Jasdan, Rajkot investing Rs. 15.35 crore to meet energy needs * CRISIL recently assigned BBB/Stable for Long Term Rating and CRISIL A3+ for Short Term * For FY24, company reported Revenue of Rs. 587.80 crore, EBITDA of Rs. 18.81 crore and PAT of Rs. 7.69 crore In the six months of FY 2024-25, company continued its trajectory of robust growth, reporting significant improvement across key financial metrics. Company reported Revenue of Rs. 312.39 crore, EBITDA of Rs. 10.50 crore and reported net profit of Rs. 5.20 crore for the H1FY25. For the full year ended March 2024, company had reported revenue of Rs. 587.80 crore, EBITDA of Rs. 18.81 crore and Net Profit of Rs. 7.69 crore respectively. Company is set to embark on a major expansion initiative aimed at increasing production capacity, improving operational efficiency, and advancing sustainable practices. In September 2024, company successfully completed its Rs. 45.88 crore public issue on NSE - SME exchange to fund its expansion plans including meeting working capital requirements and general corporate purpose. Sunny Sunil Singhi, Managing Director, Aditya Ultra Steel Ltd, said, "At Aditya Ultra Steel, we believe that innovation, quality, and sustainability are the pillars of our growth. This expansion represents a critical step in our journey towards becoming a global leader in the steel industry. By investing in cutting-edge technologies and prioritizing sustainability, we aim to provide our customers with superior products while making a positive impact on the environment. We are excited about the opportunities this growth will create for our employees, stakeholders, and the communities we serve." Company is installing a solar power plant with a capacity of 5,000 KWP at Jasdan, Rajkot, aimed at significantly meeting the company's energy needs while enhancing sustainability and reducing exposure to electricity price fluctuations investing Rs. 15.35 crore. Incorporated in 2011, Aditya Ultra Steel Ltd manufactures rolled steel products, i.e. TMT bars, under the brand name "Kamdhenu".The company manufactures TMT bars from billets in a reheating furnace and a rolling mill, mainly catering to the construction industry and infrastructure development. The company's manufacturing facility is located in Wankaner, Gujarat and has a production capacity of 1,08,000 MT for TMT bars. Recently, company has been assigned a credit rating of CRISIL BBB/Stable for Long Term Rating and CRISIL A3+ for Short Term Rating from CRISIL Ratings Limited. This rating reflects the company's financial stability, operational performance, and overall creditworthiness. It highlights company's ability to meet its financial obligations and serves as an important indicator of its financial health for investors and stakeholders. The upgraded or maintained rating is expected to facilitate better access to financing and more favourable terms in the capital markets. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
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