Talbros Automotive shares hit record high on Q4 earnings, dividend announcement

Shares of Talbros Automotive Components hit their record high today after the firm reported a 35% year on year rise in net profit for the quarter ended March 2024. Profit climbed to Rs 22.7 crore in Q4 against  Rs 16.9 crore in the March 2023 quarter. Total income climbed 17% to Rs 207.5 crore in Q4 against Rs 176.9 crore in Q4 of the previous fiscal.

Talbros Automotive stock rose 11.47% intraday to Rs 350.70 against the previous close of Rs 314.60 on BSE . Market cap of the firm climbed to Rs 2035.79 crore.

Later, the stock closed 6.85% higher at Rs 336.15 on BSE. Total 1.61 lakh shares of the firm changed hands amounting to a turnover of Rs 5.38 crore in Wednesday’s trade.

In terms of technicals, the relative strength index (RSI) of Talbros Automotive Components stood at 66.1, signaling it's trading neither in the overbought nor in the oversold zone. Talbros Automotive Components stock stands higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

In FY24, profit climbed 49% to Rs 83 crore against Rs 55.6 crore profit in FY23. EBITDA zoomed 36% to Rs 127.2 crore in the last fiscal against Rs 93.5 crore in FY23.

The board of directors recommended a final dividend of Rs 0.50 per equity share of face value of Rs 2 each of the company (25% of Face Value). Total dividend for FY 2023-24 stood at Rs 0.70 per equity share (including interim dividend of Rs. 0.20 per equity share).

Anuj Talwar, Jt. Managing Director, Talbros Automotive Components said, "For FY24, Talbros Automotive Components has demonstrated robust growth throughout the year in terms of business performance and profitability on back of strong order execution and operational efficiencies. For FY24, Total Revenue grew by 21% YoY at Rs 791 crores with EBITDA margins at 16.1%. In Q4 FY24, company has reported strong revenue growth at 17% YoY, with a 32% increase in EBITDA to Rs 36 crore and a 35% growth in Net Profit to Rs 23 crore."

Talbros Automotive Components Limited is primarily engaged in the manufacturing of automotive components. The company offers a range of products, including multi-layer steel gasket, exhaust manifold gasket, rubber molded gasket, cylinder head gasket, gasket with electrical controls, edge molded gasket and heat shield.