Great Financial Results
Somi Conveyor Beltings reported strong financial performance for Q4 FY2022-23, with significant growth in revenue and a 230% increase in net profit compared to the corresponding quarter of the previous year.
During the January–March 2023 quarter, the company recorded revenue of ₹17.45 crore compared to ₹8.84 crore in the corresponding period of the previous year, representing growth of nearly 100%.
Net profit for the quarter increased by approximately 230% to ₹1.98 crore.
For the financial year 2022-23, the company reported revenue of ₹94 crore, reflecting growth of about 63% over the previous year. Net profit for the year increased by approximately 100% to ₹3.47 crore.
The strong results highlight the company's continued growth and increasing demand for its conveyor belt solutions across various industrial sectors.