The spike in profits comes from new customers like Skoda Auto VW and bagging additional orders from TVS Motors, Bajaj Auto, Royal Enfield, and Mahindra & Mahindra.
14 Nov 2022 | 3478 Views | By Autocar Professional Bureau
SJS Enterprises, a decorative aesthetics industry supplier, reported a 30 percent year-on-year increase in its consolidated net profit for September ending second quarter.
The company registered a net profit of Rs 20 crore during the Q2 of FY23 on the back of new customer acquisitions like Skoda Auto VW ...
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SJS Enterprises, a decorative aesthetics industry supplier, reported a 30 percent year-on-year increase in its consolidated net profit for September ending second quarter.
The company registered a net profit of Rs 20 crore during the Q2 of FY23 on the back of new customer acquisitions like Skoda Auto VW and additional orders from existing clients like TVS Motors, Bajaj Auto, Royal Enfield, and Mahindra & Mahindra (M&M), among others.
The consolidated revenues for the quarter increased 17.3 percent year on year to Rs 117 crore.
K. A. Joseph, MD, SJS Enterprises Limited, said, "Despite near-term geo-political challenges in global markets, we remain cautiously optimistic on exports".
He is however confident of achieving 25 percent revenue growth CAGR in the next couple of years.
And the company continues to engage with customers to offer new products and technologies to bring in incremental business.
Sanjay Thapar, ED & CEO, SJS said that the company is working with OEMs for futuristic products like Illuminated logos and cover glass technology for automotive center stack displays, amongst others.
"We are also gearing up for the future with advanced technology products like IME and smart surface technologies which will enable a high growth trajectory for the company,” Thapar added.