Cosmo Ferrites Ltd. reports results for Q1’FY25
Cosmo Ferrites Limited, a leading manufacturer and exporter of Soft Ferrites and an emerging player in wire wound magnetic components, today declared its financial results for the quarter ended 30 June 2024.
In Q1’FY25, the company witnessed a drop in sales revenue compared to the previous quarter primarily due to its key raw material production related quality issues. Impact of drop in sales is getting reflected in lower EBITDA. The raw material issues have been normalised in Q2.
Particular (fig. in Lakhs) | Quarter ended 30.06.2024 | Quarter ended 31.03.2024 | Quarter ended 30.06.2023 |
Net Revenue | 2,263 | 2,639 | 2,773 |
EBITDA | 67 | 240 | 380 |
PBT | -225 | -64 | 68 |
PAT | -169 | -52 | 37 |
The government, responding to the company's request, initiated an anti-dumping investigation concerning the import of soft ferrite cores from neighbouring country. The investigation is generally progressing as per the notified schedule. Likely favourable outcome will help improve operating margin and capacity utilisation.
Commenting on Company’s performance Mr. Ambrish Jaipuria, Chairman, Cosmo Ferrites Ltd., “The company has successfully developed several new products tailored for automotive applications. Currently, it is progressing towards obtaining approvals in export markets for these innovations, a move anticipated to optimise capacity and enhance margins. The Company is also in the process of reducing overheads and take price corrections to improve the profitability.”
About Cosmo Ferrites Limited
Established in 1986, Cosmo Ferrites Limited is the largest producer of manganese (MnZn) based Soft Ferrite cores in India. Cosmo Ferrites is also the leading soft ferrite core exporter from India exporting to more than 50 countries across the Globe. The Company has a State-of-the-art manufacturing facility located in the foothills of Himalaya in the State of Himachal Pradesh. The products manufactured go into multiple applications in the Electronics industry. The Company is also into manufacturing wire wound magnetic components, a forward integration of Soft Ferrites.
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