GPT Infraprojects posts 53% PAT growth in Q3, declares interim dividend
3 min read . Updated: 03 Feb 2023, 04:40 PM IST
Premium- A small-cap company with a market valuation of ₹307.44 Cr, GPT Infraprojects operates in the industrial industry.
A small-cap company with a market valuation of ₹307.44 Cr, GPT Infraprojects operates in the industrial industry. The GPT Group's flagship firm, GPT Infraprojects, manufactures railway concrete sleepers in addition to working on civil and infrastructure projects. The company's concrete sleeper activities are dispersed over four nations: Ghana, South Africa, Namibia, and India and it specialises in infrastructure projects for the industrial, power, and transportation sectors, including railways and roadways. The company recently announced its fantastic Q3 earnings and dividend for the fiscal year 2022–2023 as well.
The company has said in a stock exchange filing that the Board of Directors of the Company “have declared an Interim Dividend at the rate of 10 % (Re.1.00 per share) on the face value of the equity shares (Rs. 10/- each) of the Company, for the financial year 2022-23. The Company is expecting to pay the interim dividend to the shareholders on or before 01st March, 2023. The Record Date for the purpose of payment of the aforesaid Interim Dividend has been fixed at Friday, 10th February, 2023."
On a standalone basis, the company reported net sales of ₹195.1 Cr in Q3FY23 as compared to ₹160.8 in Q3FY22, registering a growth of 21.3%. The company said its EBITDA on a standalone basis reached ₹24.0 Cr in the quarter ended December 2022 against ₹22.4 Cr in the quarter ended December 2021, recording a YoY growth of 7.5%. GPT Infraprojects recorded a profit before tax (PBT) of ₹11.6 Cr in Q3FY23 as compared to ₹9.3 Cr recorded in the year-ago quarter, registering a growth of 25.4% whereas the firm reported a net profit of ₹9.0 Cr in Q3FY23 against ₹6.2 Cr in Q3FY22, representing a growth of 47.0%.
On a consolidated basis, the company posted net sales of ₹202.1 Cr in Q3FY23 as compared to ₹160.9 Cr in Q3FY22, registering a YoY growth of 25.7%. The company said its EBITDA on a consolidated basis reached ₹23.1 Cr in the quarter ended December 2022 against ₹21.3 Cr in the quarter ended December 2021, recording a YoY growth of 8.3%. GPT Infraprojects recorded a profit before tax (PBT) of ₹4.7 Cr in Q3FY23 as against ₹6.8 Cr recorded in the year-ago quarter, representing a YoY growth of 32.8%, whereas the firm reported a net profit of ₹6.8 Cr in Q3FY23 as against ₹4.4 Cr in Q3FY22, registering a YoY growth of 53.3%.
Commenting on the performance, GPT Chairman, Mr. Dwarika Prasad Tantia, said, “The Company has witnessed one of its strongest performance for the nine months ending December 31, 2022 and it gives the management confidence of exceeding the target set for the year. We have witnessed one of the largest infrastructure outlays by the Government of India by creating world class infrastructure for the country and we are confident that this year’s budget will continue to support the sector. We continue to see healthy cash flows, thus allowing us to reduce our debts thereby reducing our finance costs, thus improving our bottom line. The cash flow to EBITDA conversion is well within our target of 80% which is one of the highest in the industry. This has allowed us to witness a transformational improvement in ROCE and ROE, which will lead to better shareholder returns. We have been able to maintain our dividend track record and as per practice of declaring dividend with Q3 results, the Board has declared an interim dividend of Re 1 per share i.e. 10% of face value. During FY23 the total order inflow stood at ₹1,125 crore with the total order book of ₹2,268 crores as on date, creating a revenue visibility of 3.36 years. We continue to maintain the momentum to close the year with one of the strongest revenues and profits with quite healthy cash flows, leading to good shareholder returns."
The shares of GPT Infraprojects closed on Friday at ₹53.15 apiece level, down by 2.74% from the previous close of ₹54.65.
