Corporate Features     

Published: October 31, 2023
Updated: October 31, 2023

GG Engineering Ltd

Financials double in Q2FY24

For the quarter ended September 30, revenue from operations grew by 98.39% from Rs 3,691.74 lakh in Q2FY23 to Rs 7,324.12 lakh in Q2FY24. EBITDA increased by 139.67% from Rs 52.81 lakh in Q2FY23 to Rs 126.57 lakh in Q2FY24. EBITDA margins increased from 1.44% in Q2FY23 to 1.73% in Q2FY24 by 29 bps. PAT increased by 52.98% from Rs 49.23 lakh in Q2FY23 to Rs 75.31 lakh in Q2FY24

For the half year ended September 30, revenue from operations grew by 106.23% from Rs 4,470.09 lakh in H1FY23 to Rs 9,218.79 lakh in H1FY24. EBITDA increased by 160.18% from Rs 69.03 lakh in H1FY23 to Rs 179.60 lakh in H1FY24. EBITDA margins increased from 1.54% in H1FY23 to 1.96% in H1FY24 by 42 bps. PAT increased by 73.14% from Rs 63.07 lakh in H1FY23 to Rs 109.20 lakh in H1FY24.

SUPERIOR STEEL

Established in 2006, GG Engineering Limited (BSE: 540614) has been at the forefront of meeting the rising demand for superior infrastructural and structural steel, and for engineering products. With a strong focus on quality and precision, the company has carved a niche for itself in the industry. Its products are used for diverse applications in various industries, like infrastructure, construction, mega projects, modern buildings, high-rise residential and commercial projects and engineering set-ups.

Earlier, the company announced that it had bagged fresh orders for infrastructural steel valued at about Rs 320 million. GG Engineering is targeting a 20%+ growth in revenue from the infrastructural steel business during the current FY as compared to the preceding year. The company is also in the advanced stages of exploring the addition of new products, including steel pipes and hollow sections, to the infrastructure business, which will add further to the targets set for the business.

The company’s vision remains anchored in creating a more resilient and environmentally responsible future through its products and practices. With a reputation built on trust, reliability and unwavering dedication to excellence, GG Engineering continues to forge ahead as it shapes a better future for both its stakeholders and the global community.