Vaishnavi Prakash
New Delhi [India], August 19: Agarwal Industrial Corporation Limited, India’s most significant Private sector player in the bitumen sector, has released its highest-ever financial results for the period ended on 30 June 2024. For Q1FY25, the Company reported a 12.69% year-on-year (YoY) jump & consolidated revenue of Rs. 709.24 crores. EBITDA (earnings before interest, taxes, depreciation, and amortization) margin saw a massive increase of 46.53% at Rs.61.71 Crore. PAT (Profit after tax) stood at Rs.39.00 crore, with a significant increase of 41.44%. The company has reported volume growth of 26.60% & highest ever 1st quarter volume of 170,478.36 MT. The Board of Directors have approved a dividend of Rs. 3 per Equity Share of the face value of Rs. 10/- for FY23-24.
Agarwal Industrial Corporation Limited is not just a bitumen player but also a significant player in the private sector in India. It functions as an Infrastructure Ancillary for the transport and logistics segments and provides logistics for bulk bitumen and LPG. The Company’s operations are diverse, with 7 manufacturing facilities, a portfolio of more than 20 products, and a fleet of 10 vessels with a capacity of around 1,02,049 MT.
In January, Agarwal Industrial Corporation achieved a significant milestone by securing tenders to supply bulk bitumen from Bharat Petroleum Corporation for its Mumbai and Haldia locations, totalling 45,000 MTs valued at Rs 232.60 crore. The Company also secured a tender from Hindustan Petroleum Corporation for its Mangalore and Haldia locations, totalling 1,50,000 MTs with an approximate value of Rs.500 crore.
The Union Budget 2023-24 laid a strong foundation for infrastructure development with a total proposed expenditure of Rs 45,03,097 crore. The interim budget has allocated a staggering Rs 2,72,000 crore for the Ministry of Road Transport and Highways, a significant increase from the previous year.
If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.
