The company has announced its FY24 results, showing mixed performance across various financial metrics. Revenue experienced a slight decline of 2.3%, dropping from ₹360 crore in FY23 to ₹352 crore in FY24. Despite this decrease in revenue, the company managed to achieve a significant improvement in profitability. The net profit for FY24 rose by 26.0%, reaching ₹48 crore compared to ₹38 crore in FY23. This increase in profit demonstrates the company’s ability to manage costs effectively, even in a challenging revenue environment. Earnings Per Share (EPS) also saw a positive trend, increasing from ₹150 in FY23 to ₹191 in FY24, marking a growth of 27.3%. This boost in EPS indicates that the company has enhanced its earnings power, benefiting shareholders. Alongside these improvements, the company’s total assets grew substantially by 19.9%, from ₹249 crore in FY23 to ₹299 crore in FY24, reflecting the company’s strengthening financial position. Total equity also saw a healthy increase of 22.7%, rising from ₹209 crore in FY23 to ₹257 crore in FY24. This growth in equity suggests that the company is maintaining a robust capital structure, potentially positioning itself well for future growth opportunities.

Elofic Industries has released its financial results for FY24