PNN
Mumbai (Maharashtra) [India], August 8: Mumbai-based Mayukh Dealtrade Limited, a BSE listed firm (BSE: 539519) engaged in manufacturing of various kinds of burners, has announced robust financial results for the quarter ended on 30th June, 2024. For the Q1FY25, the company has reported a net profit of Rs. 33.77 lakh, a sharp increase of 327.46% compared to Rs. 7.90 lakh net profit reported in the same period previous financial year. Mayukh Dealtrade’s net sales/income from operation were reported at Rs. 69.59 lakh in Q1FY25, increased from Rs. 58.69 lakh in Q1FY24, an increase of 18.57%.
* In FY23-24, Net Profit rise 101% Yo-Y to Rs. 1.19 crore; Net Sales up 60.57% to Rs. 3.55 crore
* Reports robust business and financial performance for the period ending June 30, 2024
Commenting on the performance of the company, Mit Brahmbhatt, Managing Director, Mayukh Dealtrade Ltd said, “We are overwhelmed with the performance of our team in Q1FY25. The results are in-line with our expansion and growth plans. The company is growing stronger, healthier, and reaching new heights. Our stakeholders’ faith and confidence have been critical fuel in our never-ending journey of steady growth and improvement. We aim to continue the pace of growth and further concrete our position in the market.”
For the financial year 2024, the company had reported a Net Profit of Rs. 1.19 crore, as compared to net profit of Rs. 59.23 lakh, resulting an increase of 101% Y-o-Y. For the year ended on 31st March, 2024, the company’s income from operations / net sales rise 60.57% to Rs. 3.55 crore as compared to net sales of Rs. 2.21 crore in FY2023.
The global electrical equipment market reached a value of nearly $1,180.0 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.1% since 2015. The market is expected to grow at a CAGR of 7.1% from 2020 to reach $1,662.7 billion in 2025. The global electrical equipment market is expected to reach $2,248.2 billion in 2030, at a CAGR of 6.2%.
“While energy policies have led to efficiency gains, especially for major household goods such as refrigerators and televisions, small appliances and consumer electronics are not aligned with global climate goals and continue to be unregulated in most countries. Expanded policy coverage and increased stringency are needed in all countries”, believes Brahmbhatt
Growth in the historic period resulted from economic growth in emerging markets, favourable government initiatives, and technological advances. Factors that negatively affected growth in the historic period were political uncertainties and geopolitical tensions, and volatile metal prices. Going forward, innovations in electrical equipment, rising investments in energy efficient infrastructure, and appropriate government initiatives will drive growth.
The electrical equipment market is segmented by type into electric lighting equipment, household appliances, power generation, transmission and control equipment, batteries, wires and cables. The power generation, transmission and control equipment market was the largest segment of the electrical equipment market segmented by type, accounting for 38.2% of the total in 2020. Going forward, the batteries segment is expected to be the fastest growing segment in the electrical equipment market, at a CAGR of 9.1% during 2020-2025.
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