Shera Energy's Consolidated H2 FY24 PAT surges by 64 per cent

PNN
Mumbai (Maharashtra) [India], May 7: Shera Energy Limited.(NSE - SHERA), engaged in the business of manufacturing winding wires and strips made of non-ferrous metals, announced its Audited Financial Results for H2FY24 & FY24.
Key Consolidated Financial Highlights:
Consolidated Key Financial Highlights FY24
* Total Income of Rs 876.32 Cr, YoY growth of 25.59 per cent
* EBITDA of Rs 52.55 Cr, YoY growth of 31.44 per cent
* EBITDA Margin of 6.00 %, YoY growth of 27 Bps
* PAT of Rs 14.05 Cr, YoY growth of 54.23 per cent
* PAT Margin of 1.60 %, YoY growth of 29 Bps
* EPS of Rs 5.21, YoY growth of 39.68 per cent
Consolidated Key Financial Highlights H2 FY24
* Total Income of Rs 491.91 Cr, YoY growth of 37.33 per cent
* EBITDA of Rs 27.27 Cr, YoY growth of 36.28 per cent
* EBITDA Margin of 5.54 %, YoY change of -5 Bps
* PAT of Rs 7.91 Cr, YoY growth of 63.77 per cent
* PAT Margin of 1.61 %, YoY growth of 26 Bps
* EPS of Rs 2.97, YoY growth of 65.92 per cent
Commenting on the performance, Naseem Shaikh, Chairman and Managing Director, Shera Energy Limited said, "I am thrilled to announce our outstanding performance for H2FY24 and FY24. Our consolidated H2FY24 PAT surged by an impressive 64%, demonstrating the effectiveness of our strategic initiatives and operational efficiency.
With the establishment of Shera Zambia Limited, we expand our global footprint in Central Africa. This aligns with our vision to explore new markets and diversify our offerings. We aim to cater to the growing demand in Zambia and its neighbouring nations, tapping into the region's burgeoning market potential.
Looking ahead, we remain focused on driving sustainable growth, fostering innovation, and delivering value. I am confident in our ability to navigate challenges and capitalize on opportunities, further solidifying our position as one of the leading players in the non-ferrous metals industry."
Highlights for H2 FY24 (January 2024 - March 2024)
Tapping into Central Africa's Growing Market
The Company extends its global footprint by introducing its subsidiary, Shera Zambia Limited, in Central Africa. The company aims to specialize in the production of winding wire and cables, catering to the needs of Zambia and its neighbouring nations.
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