Mumbai, India – January 29, 2025—Gujarat Poly Electronics Limited (GPEL) has announced its unaudited financial results for the third quarter (Q3) and nine-month period ending December 31, 2024. These results reflect robust revenue growth and an increase in net profitability. The company continues strengthening its market position in electronic components, demonstrating improved operational efficiency and cost management.
Revenue and Income Growth
- Revenue from operations for Q3 stood at ₹1,368.24 lakh, marking a 4.4% year-over-year (YoY) growth from ₹1,311.45 lakh in Q3 FY 2023-24.
- Total income for the quarter reached ₹1,692.28 lakh, reflecting an 8.2% increase YoY from ₹1,564.19 lakh in the corresponding quarter of the previous fiscal year.
- For the nine months, total income rose to ₹4,949.94 lakh, compared to ₹4,428.45 lakh in the same period last year, driven by stable market demand and strategic cost controls.
Expense Analysis and Cost Structure
- Raw material costs for Q3 were ₹412.25 lakh, up from ₹392.93 lakh in Q3 FY 2023-24, reflecting an increase in procurement expenses.
- Employee benefit expenses stood at ₹270.51 lakh, a moderate 6.8% increase year over year, ensuring competitive workforce retention.
- Depreciation and amortization expenses were ₹80.49 lakh, compared to ₹78.67 lakh in Q3 of the previous year.
- Other expenses remained stable at ₹371.77 lakh, reflecting efficient cost management and operational optimization.
- Total expenses for the quarter reached ₹1,049.76 lakh, compared to ₹1,049.86 lakh in Q3 last year, showing effective cost control measures.
Profitability and Margins
- Profit Before Tax (PBT) for Q3 surged to ₹198.18 lakh, a 37.4% increase YoY from ₹144.12 lakh in Q3 FY 2023-24.
- Net Profit After Tax (PAT) stood at ₹154.28 lakh, up 21% year over year, compared to ₹144.12 lakh in the previous year's quarter.
- Earnings Per Share (EPS) for Q3 was recorded at ₹0.55, reflecting a positive trajectory in shareholder returns.
Balance Sheet and Equity Structure
- The paid-up equity share capital remains ₹855.00 lakh with no significant changes.
- The company's reserves and surplus, excluding revaluation reserves, stand firm, ensuring a solid financial foundation.
Corporate Developments and Board Announcements
Board Approves Appointment of New Independent Director
The company's Board of Directors has approved the appointment of Ms. Nirmala S. Mehendale as Additional Director (Non-Executive Independent Director) for a five-year term starting March 26, 2025, subject to shareholder approval via postal ballot.No Outstanding Loan Defaults or Debt Securities
The company has confirmed no outstanding defaults on loans or debt securities, reinforcing its strong financial stability.Future Outlook and Strategic Growth Plans
Gujarat Poly Electronics is well-positioned for long-term expansion in the electronic components sector with steady revenue growth, profitability improvements, and operational efficiencies.The company's cost discipline and product innovation are expected to sustain margin expansion. At the same time, continued investments in R&D and strategic collaborations will drive future revenue growth.
As GPEL advances into Q4 FY 2024-25, it remains focused on enhancing shareholder value and leveraging market opportunities in India's growing electronics manufacturing industry.