Gayatri Projects revenue for Q2 /Sept-08 increased by 44% to Rs. 207 crs from Rs.144 crs in the corresponding quarter Sept-07. EBITDA margin for the company dipped 363 basis points to 11.86% in quarter ended Sept-08 whereas Net profit margin was down by 59 basis points to 4.13% in Q2 FY09 as compared to 4.72% in same quarter last year.
For the half-year ended 30th September 2008, the total revenues grew by 50% to Rs. 414.25 crores from Rs. 276.93 crores during the same period last year. Overall PAT increased by 45% standing at Rs. 19.82 crores, from Rs.13.74 crores during the same period last year.
Raw Material to sales has gone up to 85.21% during the quarter from 78.07% in the corresponding quarter last year. Whereas the employee cost and other expenses increased by 58.86% and 63.16% respectively during the current quarter Sept 08 due to which the EBIDTA margins reduced 11.86%. The EBIDTA increased by 10.04% to Rs. 24.55 crores and the net profit increased by 25.88% to Rs. 8.56 crs during the current quarter Sept 2009.
Simplex Projects net sales (standalone) was up by 31.80% to Rs. 72.28 crores in Q2FY09 over Q2FY08. This is due to timely execution of contracts. However, net sales (consolidated) was up by 25.45%. The Operating Margins (OPM) of the company stood at 10.75% for Q2FY09 in comparison to 12.75% in Q2FY08. The fall came from the rise in raw material cost and employee cost. Operating margins on a consolidated basis stood at 11.06% in Q2FY09.
Profit After Tax (standalone) for the company has increased by 8.65% to Rs. 4.90 crores in Q2FY09 over Q2FY08. The company has raised Rs.55.5 crores from IPO. This was raised for financing the long term working capital (Rs. 35.54 crores), acquiring plant and machinery (Rs. 13.88 crores) and investment in subsidiary company (Rs. 6 crores).