Tirupati Forge Limited — Updates, 14-11-2024: Press Release (Revised)

Tirupati Forge Limited reported a robust financial performance for the quarter ended September 30, with revenue rising 36.3% year-on-year to ₹32.6 Cr, up from ₹23.9 Cr in Q2 FY24. For the first half of FY25, revenue surged 37.71% to ₹61.8 Cr compared to ₹44.9 Cr in H1 FY24. EBITDA showed significant growth, increasing 61.32% to ₹5.1 Cr in Q2 FY25 and 75.76% to ₹10.0 Cr in H1 FY25. Profit After Tax (PAT) also witnessed a strong rise, climbing 73.11% to ₹2.7 Cr in Q2 FY25 and 96.78% to ₹5.2 Cr in H1 FY25.

The upsurge in revenue was primarily driven by increased volume growth. The company is poised for a substantial future growth trajectory, underscored by plans to enhance capacity through new machinery and CNC machine additions, expected to improve margins further. The management is optimistic about growth potential and is exploring opportunities in niche sectors with better margin profiles. Overall, this performance suggests a positive outlook for Tirupati Forge, making it a stock to watch closely.