ITL Industries Limited , a prominent player in the machine tools sector, has been honored with the prestigious Star Performer Award for 2023-24 in the Machine Tools Medium Enterprise category. The accolade, part of the National Awards for Export Excellence, was conferred by the Engineering Export Promotion Council (EEPC) of India, recognizing the company's significant contributions to India's machine tools exports.

Award Recognition

The Star Performer Award underscores ITL Industries' consistent efforts and outstanding performance in enhancing India's export capabilities in the machine tools sector. This recognition is a testament to the company's commitment to excellence and its role in strengthening India's position in the global machine tools market.

Company's Response

In an official communication to the BSE Limited, Manoj Maheshwari, Company Secretary & Compliance Officer of ITL Industries Limited, stated:

"This prestigious recognition underlines the Company's consistent efforts and contribution towards enhancing India's exports in the machine tools sector."

About ITL Industries Limited

ITL Industries Limited is a BSE-listed, ISO 9001:2015 certified company based in Indore, Madhya Pradesh. The company specializes in manufacturing machine tools and has been operating since 1985. With its headquarters at 111, Sector-B, Sanwer Road Industrial Area, Indore, ITL Industries has established itself as a key player in the machine tools industry.

Impact on Indian Exports

The award highlights the growing importance of medium enterprises like ITL Industries in boosting India's export potential. As the country aims to increase its global market share in the manufacturing sector, companies like ITL Industries play a crucial role in showcasing Indian engineering prowess on the international stage.

This achievement not only brings recognition to ITL Industries but also shines a spotlight on the capabilities of Indian manufacturers in the competitive global machine tools market. It serves as an encouragement for other medium enterprises in the sector to strive for excellence and contribute to India's export growth.

ITL Industries Limited , a prominent player in the machine manufacturing and trading sectors, has announced its financial results for the first quarter, showcasing steady performance amidst challenging market conditions.

Financial Highlights

The company reported a standalone net profit of ₹228.93 crore for the quarter, compared to ₹253.98 crore in the previous quarter and ₹226.62 crore in the same quarter last year. This represents a slight year-on-year increase of 1.02% but a sequential decrease of 9.86%.

Total income from operations stood at ₹4,141.11 crore for the quarter, indicating robust business activity across its segments. On a consolidated basis, ITL Industries posted a net profit of ₹228.60 crore, reflecting the company's overall financial health.

Segment-wise Performance

ITL Industries operates through two primary segments:

1. Machine Manufacturing: This segment generated revenue of ₹3,089.80 crore, contributing significantly to the company's top line.
2. Trading Activities: The trading segment reported revenue of ₹1,481.37 crore, complementing the company's core manufacturing operations.

Earnings Per Share

The earnings per share (EPS) for continuing operations was reported at ₹7.14 on both basic and diluted basis, indicating the company's profitability on a per-share basis.

Other Financial Metrics

The company's balance sheet remains robust, with total assets of ₹8,149.25 crore. The financial statements also reveal a healthy liquidity position, enabling the company to meet its operational and growth requirements.

Management Review and Approval

The financial results were meticulously reviewed by the audit committee and subsequently approved by the board of directors. This process ensures transparency and adherence to corporate governance standards.

Market Outlook

While the company has not provided specific forward-looking statements, the steady performance in a challenging economic environment suggests resilience in ITL Industries' business model. The diverse revenue streams from machine manufacturing and trading activities appear to provide a balanced approach to market fluctuations.

ITL Industries Limited continues to focus on its core competencies while adapting to market dynamics. Investors and stakeholders will be keenly watching the company's performance in the coming quarters as it navigates through the evolving economic landscape.

Note: All figures are in Indian Rupees (₹) and are on a standalone basis unless otherwise specified.