Advait Infratech Limited has announced strong financial performance for the quarter ended March 2024, with a 139.10% year-over-year increase in Profit After Tax (PAT) and secured funding of INR 82.3 crore.
Advait Infratech Limited is delighted to share its robust financial results for the quarter ending March 31, 2024. The company has demonstrated exceptional growth in its key financial metrics, reflecting its strong operational efficiency and market position.
FUNDRAISE: BoD has considered and approved the issuance of 5.9L shares at INR 1388/share, aggregating to INR 82.3 Cr. on a private placement basis, subscribed by Ashish Kacholia, RBA Finance & Investment and others.
FINANCIAL PERFORMANCE: For the quarter, Advait Infratech reported standalone net sales of INR 59.71 crore, a remarkable increase of 31.93% compared to INR 40.64 crore in the same quarter last year. This significant rise in sales under the company’s ability to capture market opportunities and deliver value to its stakeholders. Whereas, there is phenomenal growth in Year-End Sales by 101%, reporting to INR 209.92 crore sales for FY 2023-24.
Moreover, the quarterly net profit surged to INR 7.16 crore, marking an extraordinary growth of 90.82% from INR 3.74 crore in the corresponding period of the previous year. At the same time, PAT has increased from INR 10 Cr to INR 21.33 Cr for FY 23-24. This impressive increase in profitability highlights Advait Infratech’s effective cost management and strategic execution.
The company’s EBITDA also saw a substantial rise. For the quarter, EBITDA reached INR 12.20 crore, up 82.52% from INR 6.68 crore in the previous year. This growth in EBITDA indicates a solid underlying business performance and a strong capability to generate cash flows.
DIVIDEND DECLARATION: In addition to the strong financial performance, the Board of Directors has recommended a final dividend of INR 1.5 per share. This recommendation is subject to shareholder approval at the upcoming Annual General Meeting. The proposed dividend reflects the company’s commitment to rewarding its shareholders and sharing the benefits of its growth.
Mr. Shalin Sheth, Founder and Managing Director of Advait Infratech Limited, commented, “Our exceptional financial performance this year highlights our strategic focus and operational efficiency. We remain committed to delivering sustainable growth and value to our shareholders.
About Advait Infratech
Established in 2009, Advait Infratech delivers robust products and solutions for power transmission, substation, and telecommunication infrastructure. Operations cover turnkey telecommunication projects, power transmission and substation equipment installation, liasoning, marketing, and end-to-end solutions. Engaging in manufacturing and supplying essential power transmission products, including stringing tools, OPGW, OFC cables, ACS, ERS, and OPGW joint boxes, Advait expanded into Green Hydrogen Equipment Manufacturing Services & EPC in 2023. Additionally, the focus includes sustainability consultancy, decarbonisation consultancy, and carbon consultancy services, aiming to enhance the market landscape with cost-efficient, eco-friendly solutions.