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22 May 2019, Edition - 1408, Wednesday

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Coimbatore

Salzer Electronics registers 15 per cent growth

Covai Post Network

COIMBATORE: The revenue from operations of the city-based Salzer Electronics Ltd stood at Rs. 442.8 crore in 2017-18 (net off excise duty), as against Rs. 385 crore recorded in the last financial year, registering an year on year growth or 15 per cent.

Profit After Tax was at Rs. 20 crore during the period as against Rs.17.3 crore in 2017, with a growth rate of 15.4 per cent year on year. While industrial switch gear contributed 45.01 per cent of total revenues, buildings products 4.71 per cent, wires and cables – 49.2 per cent and energy management – 1.08 per cent, a company release said.

Stating that EBITDA stood at Rs. 53.3 crore in 2018 as against Rs.44.1 crore previous year, showing a growth of 20.7 per cent, it said EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) margin improved by over 56 bps to 12. per cent as against 11.5 per cent in the corresponding previous period

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The Board of Directors have recommended, subject to the shareholders’ approval, a final dividend of 16 per cent – Rs. 1.60 per equity share of face value Rs.10 each for the financial year ended March 31, 2018, company’s Joint Managing Director R. Doraiswamy said.

The growth was mainly driven by demand in switch gear business segment and also from products like wire harness and three phase dry type transformers, he said. The increase in exports to the U.S. and Europe has also been another factor contributing to the increased revenues, Doraiswamy said.

Salzer is offering total and customised electrical solutions in switch gears, wires and cables and energy management business. It is the largest manufacturer of CAM-operated rotary switches and wire ducts in India, with a market share of 25 and 20 per cent respectively.

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