Bhavnagar, India, January 31, 2025 – Investment & Precision Castings Ltd. (BSE: 504786) announced its unaudited financial results for the third quarter (Q3) and nine months ended December 31, 2024. The results were approved in a Board meeting held on January 31, 2025.
Financial Highlights (Standalone & Consolidated)
Key Financial Metrics (Rs. in Lakhs)
| Particulars | Q3 FY24 (Dec 31, 2024) | Q2 FY24 (Sep 30, 2024) | Q3 FY23 (Dec 31, 2023) | 9M FY24 (Dec 31, 2024) | 9M FY23 (Dec 31, 2023) | FY23 (Mar 31, 2024) |
|---|
| Revenue from Operations | 3,979.57 | 4,219.89 | 4,035.08 | 12,313.25 | 13,212.62 | 17,207.54 |
| EBITDA | 218.20 | 380.21 | 368.38 | 1,509.51 | 1,518.45 | 1,859.06 |
| Net Profit Before Tax | 52.58 | 207.00 | 211.70 | 581.58 | 1,014.03 | 1,147.34 |
- Revenue from operations stood at ₹3,979.57 lakh in Q3 FY24, reflecting a 1.37% decline YoY from ₹4,035.08 lakh in Q3 FY23.
- EBITDA fell 40.74% YoY to ₹218.20 lakh compared to ₹368.38 lakh in Q3 FY23.
- Net Profit Before Tax came in at ₹52.58 lakh, showing a 75.15% decline YoY from ₹211.70 lakh in Q3 FY23.
Segment-Wise Performance
| Segment | Q3 FY24 (Dec 31, 2024) | Q2 FY24 (Sep 30, 2024) | Q3 FY23 (Dec 31, 2023) | 9M FY24 (Dec 31, 2024) | 9M FY23 (Dec 31, 2023) | FY23 (Mar 31, 2024) |
|---|
| Investment Castings | 3,943.07 | 4,154.74 | 3,991.98 | 12,151.25 | 12,974.30 | 16,922.64 |
| Wind Mill | 36.50 | 65.15 | 43.10 | 238.13 | 284.09 | 284.90 |
- Investment castings remained the primary revenue driver, contributing ₹3,943.07 lakh in Q3 FY24.
- Wind mill segment generated ₹36.50 lakh, lower than ₹43.10 lakh in Q3 FY23.
Corporate Announcements
- The Board meeting commenced at 9:30 AM and concluded at 11:15 AM.
- The financial statements were reviewed by the Audit Committee before Board approval.
- The statutory auditors, P A R K & COMPANY, conducted a limited review of the standalone and consolidated results.
Auditor’s Review and Compliance
The auditors reviewed both
standalone and consolidated financials, including subsidiary
I&PCL Vacuum Cast Limited, and stated that:
- The financial results comply with SEBI Listing Regulations.
- There are no material misstatements identified.
Strategic Outlook
While Investment & Precision Castings Ltd. saw a
decline in profitability, the company continues to focus on
improving operational efficiency and
managing costs. Growth in the
investment casting sector remains a key driver for the company’s long-term performance.
Conclusion
Investment & Precision Castings Ltd. reported a
moderate decline in revenue and
significant pressure on profitability in Q3 FY24. While the company faces short-term challenges, the long-term outlook remains
positive with stable segment-wise contributions.