Sterling Tools sees EV biz drive profits to Rs 13 crore in Q1 FY2024, up 36% - Financial Express

Sterling Tools, the second largest automotive fasteners manufacturer and one of the largest motor control unit (MCU) suppliers for electric vehicles in India has announced its financial results for Q1 FY2024.

The company reported revenue of Rs 222.8 crore, up 27 percent compared to Rs 174.6 crore for the same period last year. The EBITDA came at Rs 27.7 crore versus Rs 22.7 crore a year ago, EBITDA margin of 12.4 percent versus 13 percent. The profit after tax came at Rs 13.1 percent, which was 36.4 percent higher than Rs 9.6 crore a year ago.