L.G. Balakrishnan & Bros Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 30, 2023 at 09:36 am EDT
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L.G. Balakrishnan & Bros Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 6,001.08 million compared to INR 5,779.78 million a year ago. Revenue was INR 6,118.07 million compared to INR 5,830.41 million a year ago. Net income was INR 754.98 million compared to INR 670.97 million a year ago. Basic earnings per share from continuing operations was INR 24.05 compared to INR 21.37 a year ago. Diluted earnings per share from continuing operations was INR 24.05 compared to INR 21.37 a year ago.
For the six months, sales was INR 11,387.21 million compared to INR 10,989.23 million a year ago. Revenue was INR 11,600.53 million compared to INR 11,074.65 million a year ago. Net income was INR 1,309.41 million compared to INR 1,253.83 million a year ago. Basic earnings per share from continuing operations was INR 41.71 compared to INR 39.94 a year ago. Diluted earnings per share from continuing operations was INR 41.71 compared to INR 39.94 a year ago.
L.G. Balakrishnan & Bros Limited is an India-based manufacturer of chains, sprockets and metal formed parts for automotive applications. The Company operates through two segments: Transmission, and Metal Forming. Its transmission segmentâs products include chains, sprockets, tensioners, belts and brake shoes. Its metal forming segmentâs products consists of fine blanking for precision sheet metal parts, machined components, and wire drawing products for internal use, as well as for other chain manufacturing plants, spring steel suppliers and umbrella manufacturers. Its product portfolio includes Automotive Chains, Sprockets, Chain Tensioners, Fine Blanking, Precision Machining, Automotive Belts, Scooter Parts, and Rubber Products. Its products are marketed under the brand Rolon. The Company has manufacturing units across Tamil Nadu, Pondicherry, Maharashtra, Uttarakhand, Karnataka, Haryana, and Rajasthan. Its subsidiaries include LGB- USA INC., GFM Acquisition LLC and GFM LLC.