Asad Daud, Managing Director of Mumbai-based Aeroflex Industries, is projecting a revenue growth of 30-40% and an EBITDA (earnings before interest, tax, depreciation, and amortisation) margin of around 21-22% in the current financial year.

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The company's shares were listed on bourses on August 22, 2023, at ₹190 apiece, an 83% premium over the IPO price of ₹108. The shares have gained 15% over the last month.

The company, which manufactures stainless steel flexible hoses and assemblies, reported a revenue growth of 24% in the second quarter of FY24 at ₹84 crore from ₹68 crore last year. Its profit margin increased to 21.4% from 17.8%. The profit after tax jumped 55% to ₹11.6 crore from ₹7.5 crore.

With a robust international presence, Aeroflex Industries balances its sales between exports and the domestic market. Daud noted that exports, especially to the USA and Europe, are driving our sales with a strong demand. "We are doubling down on the US market, our largest, expecting to keep our export sales between 80 to 85% and domestic sales at 15 to 20% over the next year.”

Some key local competitors of the company include JSW Infra, Kaynes Technologies, and Cello World.

The current market cap of the company is at ₹2,112.45 crore.

(Edited by : Shweta Mungre)

First Published:Nov 6, 2023 10:55 AM IST