Enkei Wheels (India) Limited , a prominent player in the automotive wheel manufacturing sector, has reported a significant financial setback in its latest quarterly results. The company's performance for the quarter ended June 30 reveals a stark contrast to its position a year ago, reflecting challenging market conditions and operational pressures.

Financial Performance

Quarterly Results

• Net Loss: ₹52.97 crore (vs. profit of ₹13.13 crore in the same quarter last year)
• Revenue from Operations: ₹2,331.61 crore (down 10.70% from ₹2,610.94 crore year-on-year)

Half-Year Results

• Net Loss: ₹70.08 crore (vs. profit of ₹101.82 crore in the same period last year)

Balance Sheet Highlights

As of June 30, Enkei Wheels' financial position showed some significant changes:

Corporate Governance

The Board of Directors approved these unaudited financial results on August 5, following a review by the Audit Committee, in line with standard corporate governance practices and regulatory requirements.

Auditor's Review

The statutory auditors have conducted a limited review of the unaudited financial results for the quarter and six months ended June 30. They have issued an unmodified review report, indicating no significant issues were found in the financial reporting.

Market Segment

Enkei Wheels continues to operate primarily in the "Automotive Wheels" segment. The company's management, acting as the Chief Operating Decision Maker (CODM), evaluates performance based on this single operating segment, as per the Indian Accounting Standard 108 on Operating Segments.

Outlook

While the company faces challenges reflected in its current financial performance, it's important to note that the automotive industry often experiences cyclical trends. Enkei Wheels' ability to navigate these headwinds and potentially return to profitability will likely depend on various factors, including market demand, operational efficiency, and broader economic conditions affecting the automotive sector.

Investors and stakeholders will be keenly watching Enkei Wheels' future performance and any strategic initiatives the company may undertake to address the current financial challenges and drive growth in the coming quarters.

Enkei Wheels (India) Limited , a prominent manufacturer of automotive wheels, has reported mixed financial results for the fourth quarter of the fiscal year 2024-25, along with key corporate updates.

Financial Performance

Enkei Wheels faced challenges in the fourth quarter, reporting a net loss of ₹52.97 crore, a significant downturn compared to a profit of ₹88.69 crore in the same quarter last year. The loss also deepened from the previous quarter's ₹29.67 crore.

Despite the bottom-line pressure, the company managed to increase its revenue. Q4 revenue rose to ₹2,279.81 crore, up from ₹2,216.14 crore in the corresponding quarter of the previous year, representing a year-over-year growth of approximately 2.87%.

Quarterly Financial Highlights

The company's financial results reveal increased pressure on profitability, with rising finance costs and employee benefit expenses contributing to the quarterly loss.

Annual General Meeting and Book Closure

Enkei Wheels has set the date for its 16th Annual General Meeting (AGM). The AGM is scheduled for Wednesday, May 28, 2025, at the company's registered office in Shikrapur, Pune.

The company also announced that the Register of Members will remain closed from Thursday, May 22, 2025, to Wednesday, May 28, 2025 (both days inclusive) for the purpose of the AGM.

Corporate Governance Update

In line with regulatory requirements, Enkei Wheels has appointed Ms. Snehal Phirange as the Secretarial Auditor for a term of five consecutive years, subject to shareholders' approval at the upcoming AGM. This appointment complies with Section 204 of the Companies Act, 2013, and the SEBI (LODR) regulations, 2015.

Ms. Phirange brings over 15 years of post-qualification experience in secretarial audits of listed companies, with expertise in capital markets, listing norms, corporate governance, and SEBI matters.

As Enkei Wheels navigates through challenging market conditions, investors and stakeholders will be keenly watching the company's strategies to return to profitability while maintaining its revenue growth trajectory.