PNN
New Delhi [India], August 17: Atam Valves Limited (ATAM) (BSE – 543236 NSE – ATAM), a renowned manufacturer of industrial and plumbing valves and fittings, has announced its unaudited Financial Results for the Q1 FY24.
Key Financial Highlights:
Q1 FY24:
* Total Income ₹ 10.40 crore
* EBITDA of ₹ 1.51 crore
* EBITDA margin at 14.48%
* Net Profit of ₹ 0.84 crore
* Net profit margin at 8.08%
* EPS (Diluted) ₹ 0.72
Commenting on the performance, Amit Jain – Managing Director of Atam Valves Limited said, “FY24 has kicked off on an exceptionally positive note, marked by robust revenue growth attributed to escalating demand for our products. Throughout this period, we made substantial investments in marketing and R&D, particularly for the introduction of new Bathroom Fitting products into the market. Although these initiatives have impacted our profit margins, we hold a steadfast belief that these innovative products will provide us a competitive edge, bolster our brand recognition, and ultimately expand our market share over the long term.
In our pursuit of bolstering profitability, we have embarked on a journey to optimize our operational efficiency, rationalize costs, and bolster our agility in responding to the fluidity of market dynamics. These measures, coupled with our newly introduced range of Bathroom Fitting products, are poised to act as a formidable driving force for the company in the foreseeable future, promising enduring brand recognition and prominence.”
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