Hilton Metal net profit increased upto 82% in 9MFY24

Hilton Metal Forging Ltd, prominent manufacturer and distributor in the steel forging industry, specializing in products such as for railway forged wagon wheels has reported exceptional operational and financial performance for Q3 FY24 and 9MFY24. Net profit of the company for Nine months ended December 2023 rose 82% to Rs. 6.14 crore as compared to net profit of Rs. 3.37 crore reported in the corresponding period last year. Total income of the company also registered growth of 41% to Rs. 105.34 crore in 9M FY24 as compared to total income of Rs. 74.48 crore reported in the same period last year. Going forward, the company is eying big business for Railway Forged Wagon Wheel and has installed capacity to manufacture 48,000 Wheels annually.

For Q3FY24 the company reported net profit of Rs. 2.11 crore, Y-o-Y growth of 68% and Total income of Rs. 42 crore with Y-o-Y growth of 44%. The company has reported improvement in its business performance over the years. Net Profit of the company for FY23 was reported at Rs. 5.85 crore, 3 fold growth from net profit of Rs. 1.76 crore in FY22. Total income also rise 25% to Rs. 105.4 crore in FY23 as against Rs. 84.2 crore in FY22. Net profit margin of the company has improved to 6.71% in FY23 as against 2.1% in FY22 on account of increase in operating performance.

Company supplies Railway Forged Wagon Wheel for the replacement market across various Indian Railway Workshops in India. With the demonstrated quality and delivery, Railway Forged Wagon Wheel has been approved by the Third Party Inspection agency- RITES Ltd. Hilton Metal Forgings Limited with a proven successful track record makes it a strong bidder for the Global Wheel Tender floated by Indian Railways. Company is also looking forward to bigger Railway Forged Wagon Wheel Orders in the near future through tender routes. The Board of Directors proudly announced that the company has successfully developed and supplied railway wheels to the Indian Railways, achieving the distinction of being the first Indian MSME company to produce Indigenous Forged Railway Wheels. The company is now eligible to participate in Global tenders.

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