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Rishabh Instruments announces FY24 Q3 results – Profit down 59% QoQ



Nasik, 12th February 2024 – Rishabh Instruments Limited (RIL), a pioneer in energy efficiency solutions, has unveiled its financial performance for Q3 and the first nine months of FY24, marking a significant stride in its global journey.

A Closer Look at Q3 & 9MFY24 for Rishabh Instruments

Decent Performance Across the Board

  • Standalone Business: Remained steady in Q3 with INR 458 Mn, soaring to INR 1,655 Mn in 9MFY24, a commendable 23% growth Y-o-Y.
  • Lumel (SA): Witnessed a remarkable 37% increase in Q3, reaching INR 485 Mn and leaped by 43% in 9MFY24 to INR 1,336 Mn.
  • Lumel (Alucast): Enjoyed a 16% growth in Q3 with revenue hitting INR 589 Mn; 9MFY24 saw a 29% surge to INR 1,981 Mn.

Financial Breakdown

  • Revenue: Jumped by 19% Y-o-Y in Q3 and 30% in 9MFY24, showcasing good growth across segments.
  • Adjusted EBITDA: Despite a 40% drop in Q3, it bounced back with a 42% increase in 9MFY24, thanks to in-house efficiency and process improvements.
  • PAT: Q3 saw a 59% decrease, but 9MFY24 enjoyed a 9% Y-o-Y increase.

Strategic Initiatives and Global Reach

  • Innovative Product Launches: From Solar String Inverters to advanced IoT solutions, RIL is at the forefront of technological innovation.
  • Global Expansion: With significant growth in Europe, Asia, and the USA, RIL is expanding its global footprint, especially with strategic acquisitions in China and Poland.

Looking Ahead

Despite some challenges, particularly in the die-casting business due to the initial costs of launching new projects, the outlook remains positive. These long-term contracts, especially in the EV space, are expected to stabilize and contribute significantly to revenues and profits.

RIL’s commitment to innovation is unwavering, with 20 new products in the pipeline for FY25. These initiatives, coupled with strategic acquisitions and a focus on in-house manufacturing capabilities, set RIL on a path of sustained growth and global leadership in energy efficiency solutions.

CEO’s Perspective

Mr. Dinesh Musalekar, CEO, shares his optimism about RIL’s trajectory, emphasizing the importance of innovation, strategic expansion, and operational efficiency. Further he said that the growth in revenues and the steady addition of new products underscore RIL’s commitment to excellence and customer satisfaction.

In Conclusion

Rishabh Instruments Limited is not just riding the wave of growth; it’s heading the ship with strategic plans, technological innovation, and a global expansion strategy. As RIL continues to expand its product offerings and enter new markets, its journey from Nasik to the global stage is a testament to its vision and resilience. However, one must be carefull before investing here as the company is not yet profit making.

Stay tuned for more updates as RIL shapes the future of energy efficiency and sets new benchmarks in the industry.

About Rishabh Instruments

Rishabh Instruments Limited (RIL), established in 1982, stands at the forefront of providing global energy efficiency solutions. Renowned for its manufacturing prowess, RIL excels in producing analog panel meters and is a leading entity in crafting low voltage current transformers on a global scale. Beyond these, the company’s expertise extends to aluminum high-pressure die-casting, catering to clients demanding unparalleled precision, such as automotive compressor manufacturers and automation high precision flow meter manufacturers.

With a robust distribution network, RIL’s products find their way to over 70 countries, supported by more than 350 authorized dealers and stockists. This extensive reach is a testament to the company’s commitment to quality and innovation. RIL’s operations span across three key geographical locations – India, Poland, and China, ensuring that all products are manufactured in-house under stringent quality control measures.

Innovation and technology are at the core of RIL’s operations. The company’s dedicated research and development centers, accredited both nationally and internationally, focus on the innovation of products, processes, and applications. This commitment not only fulfills customer needs but also contributes to advancing industry standards. With international and domestic sales and marketing offices, RIL is dedicated to making a significant impact in the realm of energy efficiency solutions, proving itself as a global leader in the electrical automation, metering, and measurement sectors.


ITI Limited moves into 5G with Strategic Partnerships, stock has moved 3 times over the last year



ITI Limited, India’s pioneering Public Sector Unit (PSU) in telecom manufacturing, has taken a massive step towards improving the country’s digital landscape. By forging Memorandums of Understanding (MoU)s with Lekha Wireless, Niral Networks, and InstaICT Solution Private Limited, ITI is setting the stage for an expansive 5G ecosystem for enterprises.

A Collaborative Force in 5G Innovation

The collaboration marks a major move in ITI Limited’s journey, aligning with niche entities like Lekha Wireless, known for its Radio Access Networking prowess; Niral Networks, a beacon of Private 5G and Edge Solutions; and InstaICT Solution, experts in end-to-end network services. Together, they aim to design, deploy, and manage comprehensive Private 5G Network Solutions, heralding a new era of connectivity and digital empowerment in India.

Empowering Industries with Tailored 5G Solutions

This initiative promises to unlock new opportunities, particularly in fields that demand high-speed, reliable connectivity, such as manufacturing, energy, transportation, and more. With the hype of Digital India pushed by Narendra Modi, we feel this is just the beginning for ITI.

The Path to Digital Empowerment

Mr. Rajesh Rai, Chairman and Managing Director of ITI Limited, envisions this partnership as a cornerstone for India’s telecom technology adoption, emphasizing the transformative power of 5G in driving digital transformation across multiple sectors. The collaboration signifies more than just technological integration; it’s a step towards realizing India’s digital ambitions on a global scale.

What This Means for India’s Digital Future

The partnerships underscore a shared vision among the collaborators to accelerate India’s transition to a digitally empowered society and knowledge economy. By leveraging their combined expertise, ITI Limited and its partners are not just aiming to implement cutting-edge technology but also to catalyze sustainable growth and innovation across the nation’s industries.

Conclusion: A Leap Towards a Connected India

As ITI Limited embarks on this journey with Lekha Wireless, Niral Networks, and InstaICT Solution, the future of India’s digital infrastructure looks promising. This initiative is more than just an advancement in telecommunications; it’s a beacon of progress, innovation, and digital inclusivity for India, setting a precedent for the rest of the world to follow.

PSU stocks have seen a massive boost lately. Following the trend, the stock price for ITI has grown by over 3 times in the last 1 year. What we are worried about is the fact that the profits for the company have in-fact declined. Remember, you need to check the fundamentals of a company as well as technicals before making any investment. We see a caution from the balance sheet for ITI.

About ITI Limited: Dive deeper into ITI Limited’s legacy as India’s premier telecom company and its commitment to innovation at

Explore Niral Networks: Learn more about Niral Networks and their revolutionary 5G solutions at

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Hinduja Global Solutions Posts 7.6% Revenue Growth




Hinduja Global Solutions (HGS), known for its digital transformation and business process management services, recently showcased impressive growth in the third quarter of FY2024. Despite the tough global economic climate, HGS has shown resilience and agility, recording a significant upswing in both revenue and EBITDA. Let’s dive into the details of HGS’s performance and its forward strides in the digital domain.

Impressive Growth Metrics

Hinduja Global announced a 7.6% year-on-year increase in operating revenue, reaching Rs. 1,203.7 crore for Q3 FY2024. The operating EBITDA saw a staggering 39.9% growth compared to the same period last year, amounting to Rs. 115.1 crore. This growth trajectory isn’t just limited to a single quarter; the first nine months of FY2024 saw operating revenue at Rs. 3,517 crore and operating EBITDA climbing 39.3% year-on-year to Rs. 289.5 crore.

Strategic Client Acquisitions and Innovations

HGS didn’t just stop at financial growth; the company also expanded its clientele significantly. With 12 new logos added for digital-enabled customer experience (CX) solutions and eight for HRO/Payroll Processing, HGS is broadening its horizon. The introduction of NetX, a collaborative innovation between the digital teams of the BPM and Digital Media businesses, marks a pivotal step towards revolutionizing digital networking.

Digital Media Business Leap

The Digital Media division, under the brand CelerityX, is making waves in broadband and digital television growth. The division ended Q3 with a whopping 5.75 million connected homes across India. Furthermore, CelerityX is rolling out cutting-edge solutions, like NetX, to transform the digital landscape for enterprises across various sectors.

The Road Ahead

The journey doesn’t end here for HGS. The company is setting sights on further growth and market penetration. With aggressive investments in technology and talent, particularly in areas like Cloud, analytics, and AI, HGS is gearing up to meet the increasing market demand for complex, technology-driven solutions.

Conclusion: A Steady Climb to Success

HGS’s performance in Q3 FY2024 is a testament to its strategic planning, innovative solutions, and relentless pursuit of excellence. As HGS continues to evolve and adapt to the changing market dynamics, it is well-positioned to not only meet but exceed its growth targets, ensuring a brighter, technology-driven future.

This narrative of growth and innovation underscores HGS’s commitment to delivering exceptional value to its clients while paving the way for a sustainable and digital-first business ecosystem. Check more latest Quarterly results on Tradealone.

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Yatra Online Limited Delivers a Remarkable Q3 FY24 Performance




Yatra Online Limited, India’s leading name in corporate travel services and a dominant player among the Online Travel Agencies (OTAs), just announced its financial outcomes for Q3 of the fiscal year 2023-24, marking significant jump in revenue growth and operational achievements. Moreover, we see an increasing trend of online bookings in India, this could be a big boost for yatra in longterm.

A look into Q3-FY24 Financial Performance

The third quarter has been fruitful for Yatra, with notable financial highlights:

  • Revenue Growth: The operations revenue saw a jump to INR 1,103Mn, marking an impressive 23% growth Year-over-Year (YoY).
  • Net Profit Leap: Net profit witnessed a substantial rise of 119% YoY, with a diluted EPS of INR 0.07.
  • Debt Reduction: The company’s gross debt was significantly reduced by 51% on a Quarter-over-Quarter (QoQ) basis.

Despite facing challenges in the corporate business segment due to subdued business travel spends, especially from IT/ITES clients, Yatra’s operational highlights paint a promising picture of resilience and growth.

Operational Highlights: A Testament to Strategic Excellence

  • Dominating Air Passenger Growth: Yatra’s domestic air passenger segment outperformed, registering a 26% YoY growth, nearly tripling the industry’s 9% benchmark.
  • Gross Bookings Increase: An 18% YoY growth in gross bookings, amounting to INR 18,605 Mn, underscores Yatra’s robust market strategies.
  • Expanding Corporate Clientele: The addition of 26 new corporate accounts with a potential annual billing of INR 2,237 Million highlights Yatra’s strong foothold in the corporate travel sector.

Management Insights: Steering Towards a Brighter Horizon

Dhruv Shringi, Yatra’s Whole Time Director & CEO, shared his enthusiasm over the quarter’s performance. Highlighting the air passenger segment’s robust growth and the successful onboarding of new corporate clients, Shringi’s comments reflect Yatra’s unwavering commitment to market leadership and customer value enhancement. The introduction of the Yatra Prime membership initiative for Indian shareholders further exemplifies this commitment.
Furthermore, this is second good quarter in a row for yatra. checkout our previous coverage here.

Looking Ahead: Embracing Growth and Innovation

As Yatra continues to navigate the dynamic travel industry landscape, its focus on capturing growth opportunities and enhancing travel experiences for its customers remains on top. With a strong foundation , we believe Yatra will continue to grow and capture more market share.

Despite this good growth, the stock price is down by over 30% in the last year. However, we believe that as company starts to post consistent results, stock price will appreciate eventually.

Stay tuned for further updates as Yatra Online Limited continues to redefine travel experiences and value creation for its customers and shareholders alike.

Disclaimer: This blog post is for informational purposes only and is based on the Q3 FY24 earnings release by Yatra Online Limited. Readers are advised to do their own research or consult a financial advisor before making any investment decisions.

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