Agarwal Industrial Corporation releases Q3 FY23 results – key highlights

New Delhi (India), February 11: Agarwal Industrial Corporation Limited, the largest pvt sector player in the bitumen sector has released its performance for the period that ended on December 31, 2022. For Q3FY23, Company reported a 45.42% year-on-year (YoY) jump in its consolidated revenue from operations at Rs 553.90 crores. EBIDTA (earnings before interest, taxes, depreciation, and amortization) margin increased by 19.18% at Rs.39.80 crore. PAT (Profit after tax) stood at Rs.26.43 crore with an increase of 27.91%.

The Company, recently inducted 2, Specialized Bitumin Vessels with a total capacity of 12,574 MTs taking the total count of its Vessel Family to 8 & total carrying capacity to 51,574 MTs.

In Budget 2023 Road ministry got a 36% hike in allocation at Rs 2.7 lakh cr for 2023-24, to help the ministry meet the 25,000-km road development target announced in the 2022-23 Budget

The company primarily belongs to the ancillary infra industry and is engaged in the business of manufacturing and trading bitumen and allied products used heavily in infrastructure projects. It also provides logistics for bulk bitumen and LPG through. Besides, it generates power through windmills. Agarwal Industrial has manufacturing units in Taloja, Belgaum, Vadodara, and Hyderabad.