Rishabh Instruments sticks to revenue growth guidance of 25% for FY24
According to Narendra Goliya, the Chairman and Managing Director of Rishabh Instruments, discussed the growth trajectory and inorganic expansion plans, with CNBC-TV18.
Energy efficiency solutions company Rishabh Instruments is targeting revenue growth of over 25% for the current financial year.
According to Narendra Goliya, Chairman and Managing Director of the recently-listed company, the demand for the third quarter has so far been better than the first half and there are no signs of slowing down.
The company has also raised prices by around 3-4% in Europe, he noted.
Goliya also talked about a potential acquisition that the company may soon announce. "It should happen by the end of March. The geography is in India, and the kitty would be in the range of about ₹100 crore," he said.
The company reported a good set of second-quarter numbers with total revenue of ₹180 crore from their core operations, supplemented by an additional ₹1.6 crore from other sources. EBITDA (earnings before interest, tax, depreciation and amortisation) stood at ₹31.7 crore, translating to a margin of 18%. Profit after tax was at ₹22.2 crore.
In September, shares of Rishabh Instruments debuted on the exchanges at ₹460.05 on the National Stock Exchange (NSE), a premium of 4.3% to its issue price of ₹441. On BSE, the stock is listed at ₹460, up 4.3% from the issue price.
The current market capitalisation of Rishabh Instruments is ₹1,959 crore.
(Edited by : Shweta Mungre)
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