GKN Driveline (India) Limited has announced its financial results for the fiscal year 2024 (FY24). The company reported a 6.7% increase in total revenue, reaching Rs. 1,060 crore compared to Rs. 9,931.64 crore in FY23. Total expenses rose by 6.3% to Rs. 944 crore, up from Rs. 888.6 crore in the previous fiscal year.

The company’s profit before tax (PBT) saw a significant rise of 10.8%, amounting to Rs. 115.8 crore, as against Rs. 104.26 crore in FY23. Similarly, the net profit increased by 9.5% to Rs. 86.22 crore, up from Rs. 78.67 crore in the previous year. The earnings per share (EPS), both basic and diluted, also improved to Rs. 67.22 from Rs. 60.53 in FY23.

On the balance sheet, GKN Driveline reported an increase in total assets to Rs. 660.74 crore in FY24, compared to Rs. 541.65 crore in FY23. The total equity and liabilities of the company also rose to Rs. 660.74 crore, up from Rs. 541.65 crore in the previous fiscal year.

The cash flow statement revealed that the net cash flow from operating activities in FY24 was Rs. 11.36 crore, compared to Rs. 9.35 crore in FY23. The net cash used in investing activities decreased slightly to Rs. 36.33 crore from Rs. 40.95 crore in the previous year. Additionally, the net cash used in financing activities significantly decreased to Rs. 1.86 crore in FY24, down from Rs. 169.5 crore in FY23.

GKN Driveline (India) Limited, a public limited company incorporated on 25 July 1985 and domiciled in India, is primarily engaged in the manufacture and sale of driveshafts to original equipment manufacturers (OEMs) in the automobile industry. The company operates five manufacturing facilities located in Faridabad, Dharuhera, Oragadam, Pune, and Kadi. 

The company is a subsidiary of GKN Driveline International GmbH, Germany. Effective from 20 April 2023, the ultimate holding company of GKN Driveline is Dowlais Group PLC, following the demerger of Melrose Industries PLC's Automotive, Hydrogen, and Powder Metallurgy arm into the newly established Dowlais Group PLC.