21st December 2024 Ahmedabad, Gujarat, India Latteys Industries Limited, an NSE-listed leader in energy-efficient solar submersible pumps, has announced remarkable financial results for the Quarter and Half Year ending September 2024.
Key Financial Highlights:
- Revenue Growth: The company’s revenue surged from Rs. 1,575 lakhs to Rs. 1,873.46 lakhs, marking an 18.90% increase compared to the same period last year.
- Net Profit: The net profit witnessed an impressive growth of 176.38%, rising from Rs. 25.37 lakhs to Rs. 70.12 lakhs. Sequentially, net profit grew by 86.20% compared to the previous quarter.
- Earnings Per Share (EPS): EPS saw a threefold increase, jumping 200% from Rs. 0.04 to Rs. 0.12.
Latteys Industries continues to expand its presence in the solar water pump segment and is currently empanelled for installations in Madhya Pradesh, Maharashtra, Gujarat, and Uttar Pradesh. With additional orders on the horizon, the company is well-positioned to contribute significantly to India’s green energy initiatives. Efforts are underway to further expand operations into unrepresented regions, strengthening the company’s market footprint.
During the year, Latteys Industries secured a prestigious order worth approximately Rs. 30 crore for the design, manufacture, supply, installation, testing, and commissioning of 1,000 Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) under Component-B of the PM-KUSUM scheme. The project includes a complete system warranty and repair/maintenance services for five years and was awarded by the Rajasthan Horticulture Department, Jaipur.
Total Orders In Hand as of Date: 37.525 and additional orders are expected to be signed soon.
Leadership Commentary
Commenting on the company’s performance, Mr. Kapoor Chand Garg, Promoter of Latteys Industries Limited, said: “We are delighted with the company’s performance and deeply value the trust our clients place in us. Our commitment to delivering high-quality, sustainable solutions remains unwavering, and we are confident in our ability to achieve even better results year after year.”
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