GKN Driveline Limited released their financials for FY24

02 September 2024

• Revenue and Profitability: The company's revenue increased by 6.8%, from ₹984.5 cr in FY23 to ₹1,052 cr in FY24, driven by higher sales. This revenue growth resulted in an 11.1% rise in profits, with PAT increasing from ₹77 cr in FY23 to ₹86 cr in FY24. Additionally, the EPS grew by approximately 11.1%, from ₹61 in FY23 to ₹67 in FY24, indicating improved profitability per share.
  
  
• Financial Position: The company's asset base expanded by 22%, rising from ₹542 cr in FY23 to ₹661 cr in FY24. This increase was primarily due to the growth in inventory, trade receivables and cash and cash equivalent. Meanwhile, total equity showed a modest increase of 1.5%, from ₹296 cr in FY23 to ₹301 cr in FY24, indicating a stable financial foundation.
  
  
• Future Prospects: The company is poised to continue its growth trajectory by capitalizing on the expanding auto components industry, which is expected to grow faster than the overall automotive sector. GKN Driveline's commitment to maintaining strong relationships with existing customers while seeking new partnerships will likely drive its future growth.