Agarwal Industrial Corporation Q3 FY23 revenue increases 45.42% y-o-y

New Delhi (India) : Agarwal Industrial Corporation Limited, the largest private sector player in the bitumen sector, has released its results for the fiscal year ending December 31, 2022. The Company’s consolidated revenue from operations increased by 45.42% year on year (YoY) to Rs 553.90 crores in Q3FY23. The EBIDTA margin (earnings before interest, taxes, depreciation, and amortisation) rose by 19.18% to Rs.39.80 crore. PAT (Profit after tax) increased by 27.91% to Rs.26.43 crore.

The company recently added two Specialized Bitumin Vessels with a total capacity of 12,574 MTs, bringing the total number of vessels in its Vessel Family to eight and the total carrying capacity to 51,574 MTs.

The Road Ministry received a 36% increase in allocation in Budget 2023, at Rs 2.7 lakh cr for 2023-24, to help the ministry meet the 25,000-km road development target announced in the 2022-23 Budget.

The company primarily operates in the ancillary infrastructure industry, manufacturing and trading bitumen and allied products used extensively in infrastructure projects. It also facilitates the transportation of bulk bitumen and LPG. Furthermore, windmills are used to generate power. Agarwal Industrial operates plants in Taloja, Belgaum, Vadodara, and Hyderabad.