Man Infraconstruction Ltd (Man Infra), an EPC firm, saw a significant increase in its standalone net profit to Rs 66.53 crore in the fourth quarter of the financial year 2024 due to lower expenses. This was a twofold rise from the net profit of Rs 29.81 crore in the same period last fiscal, as reported in an exchange filing.
Despite the rise in net profit, the company’s total income decreased to Rs 186.22 crore from Rs 370.47 crore in the January-March period of FY23. Man Infraconstruction managed to reduce its expenses to Rs 114.90 crore from Rs 332.17 crore compared to a year ago, particularly cutting down on the cost of materials to Rs 57.35 crore from Rs 265.93 crore in the fourth quarter of FY23.
The company operates in various sectors including ports, infrastructure, commercial projects, institutions, IT projects, and futuristic lifestyle houses.
Here are some key performance highlights of Man Infraconstruction over the last four years (FY21 to FY24):
- Total income increased from Rs. 452 crores to Rs. 1,360 crore
- Profit Before Tax (PBT) rose from Rs. 55 crores to Rs. 397 crores, representing a 93% Compound Annual Growth Rate (CAGR)
- PBT Margin surged from 12.1% to 29.2%
- Profit After Tax (PAT) showed robust growth from Rs. 32 crores to Rs. 300 crores, with a 111% CAGR
- Man Infraconstruction is one of the few Net-Debt Free companies in the Real Estate sector, with a cash and bank balance of Rs. 741 crores providing strength for future growth
- The forthcoming Rs. 407 crores from equity warrants holders of the preferential issue made in December 2023 will further enhance the company’s financial position for future project acquisitions
- The company achieved Cash flow from Operations of Rs. 572 crores in FY24
