| In Rs. Crores | Q2 FY23 | Q1 FY23 | Q2 FY22 |
| Net Revenue | 24.6 | 35.4 | 26.2 |
| EBITDA | 1.9 | 6.0 | 7.0 |
| PBT | (0.5) | 4.0 | 4.7 |
| PAT | (0.4) | 3.1 | 3.5 |
New Delhi, 9th November 2022: Cosmo Ferrites Limited, a leading manufacturer and exporter of Soft Ferrites and an emerging player in wire wound magnetic components today declared its financial results for the quarter ended September 2022.
The Revenue and EBIDTA dropped on YoY basis primarily due to lower exports sales (particularly from Europe region, which is the main stray in exports for Cosmo due to inventory corrections, geo-political turmoil and fears of recession in Europe). There is an inventory loss of Rs 1.5 crores due to drop in raw material prices.
As at Sept 2022, the Company’s ROCE stands at 41%. Net Debt at Rs. 64 crores is 2.4 times of EBITDA.
Commenting on Company’s performance Mr. Ambrish Jaipuria, Chairman, Cosmo Ferrites Ltd. said “We have developed new parts for automotive market, which is a lucrative sector given the automation happening. The new Top Hat Kiln for higher permeability ferrite cores (technologically advanced ferrite cores) is expected to start operations from FY24 which will improve sales mix further towards value-add products. Q2 is affected due to European situation, supply chain and pricing corrections and it is likely to prolong even in Q3. However, we expect an improvement from Q4 given all the recent developments with the new set of customers as well as corrections in the supply chain.”