L.G. Balakrishnan & Bros Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 29, 2024 at 11:33 am EST
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L.G. Balakrishnan & Bros Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 6,003.68 million compared to INR 5,810.34 million a year ago. Revenue was INR 6,121.49 million compared to INR 5,869.84 million a year ago. Net income was INR 725.41 million compared to INR 721.49 million a year ago. Basic earnings per share from continuing operations was INR 23.11 compared to INR 22.98 a year ago. Diluted earnings per share from continuing operations was INR 23.11 compared to INR 22.98 a year ago.
For the nine months, sales was INR 17,390.89 million compared to INR 16,799.56 million a year ago. Revenue was INR 17,722.02 million compared to INR 16,944.49 million a year ago. Net income was INR 2,034.82 million compared to INR 1,975.32 million a year ago. Basic earnings per share from continuing operations was INR 64.82 compared to INR 62.92 a year ago. Diluted earnings per share from continuing operations was INR 64.82 compared to INR 62.92 a year ago.
L.G. Balakrishnan & Bros Limited is an India-based manufacturer of chains, sprockets and metal formed parts for automotive applications. The Company operates through two segments: Transmission, and Metal Forming. Its transmission segmentâs products include chains, sprockets, tensioners, belts and brake shoes. Its metal forming segmentâs products consists of fine blanking for precision sheet metal parts, machined components, and wire drawing products for internal use, as well as for other chain manufacturing plants, spring steel suppliers and umbrella manufacturers. Its product portfolio includes Automotive Chains, Sprockets, Chain Tensioners, Fine Blanking, Precision Machining, Automotive Belts, Scooter Parts, and Rubber Products. Its products are marketed under the brand Rolon. The Company has manufacturing units across Tamil Nadu, Pondicherry, Maharashtra, Uttarakhand, Karnataka, Haryana, and Rajasthan. Its subsidiaries include LGB- USA INC., GFM Acquisition LLC and GFM LLC.