AVRO India 9M FY23 profit up 253%

Mumbai : AVRO India Limited(NSE – AVROIND & BSE – 543512), One of the leading manufacturers of plastic moulded furniture products has announced its audited Financial Results for the Q3FY23 and 9mFY23.

Key Financials at a Glance:

3QFY23:

• Total Income at ₹21.82 crore; up 10.65%
• EBITDA at ₹2.29 crore; up 73.48%
• EBITDA margin at 10.49% Vs 6.74%
• PAT at ₹1.19; up 138%
• NPM at 5.45% Vs 2.54%
• EPS at ₹ 1.17

9MFY23

• Total Income at ₹63.69 crore; up by 36.88%
• EBITDA at ₹6.55; up by 148.11%
• EBITDA margin at 10.28% Vs 5.67%
• PAT at ₹3.28 crore; up 252.69%
• NPM at 5.15% Vs 2%
• EPS at ₹3.25

Commenting on the performance, Mr. Sushil Kumar Aggarwal, Chairman of AVRO India Limited said, “Plastic furniture demand helped us to report good revenue growth and our recycling unit helped us to cut cost and optimise profit and this is clearly seen in our improving EBITDA margin which is over 10% for the reported quarter as well as nine months of FY23.

Our foray into the recycling business has helped us strategically control costs while optimizing our profitability. We have already exceeded FY22 profit in the first nine months of FY23 and expect to close FY23 with an impressive net profit.”

About AVRO India Limited:

The Ghaziabad (Uttar Pradesh) based AVRO India Limited (AVRO) was incorporated in 1996 and established its manufacturing facilities in the year 2002 and is engaged in the business of manufacturing plastic moulded furniture under the brand name of AVRO/ AVON. The company has one of the largest product ranges manufacturing with imported machines and moulds in a highly automatic environment and following global quality standards & practices. AVRO India Ltd. is one of the largest players in North India in the plastic molded furniture segment and the company is also among the top 5 Manufacturers in India.

AVRO sells its products through online and offline channels. The company has an online presence on Amazon, and Flipkart, Indiamart, etc and in the offline channel the company has more than 200 Dealers & Distributors and 20,000 plus touch-points through Retailers

The company’s products are widely accepted for various Home and Commercial use for both indoor and outdoor use with absolute reliability in all weatherproof conditions & long-lasting for decades, thus making its products most versatile and reliable.

For FY22 the company reported a Net profit of ₹ 2.99 Cr, EBITDA of ₹ 5.63 Cr on sales of ₹ 65.20 Cr.