Mumbai— Ravi Infrabuild Projects Limited, a Udaipur-based infrastructure firm preparing for an IPO to raise up to ₹1,100 crore, reported a 10.46% decline in net profit for FY24 despite strong revenue growth.
According to the company’s financial disclosures, net profit dropped from ₹98.49 crore in FY23 to ₹88.19 crore in FY24. This decline came despite a 32.7% rise in revenue from operations, which climbed to ₹1,285.16 crore from ₹968.58 crore the previous year. Total income rose by 33% year-on-year to ₹1,303.89 crore.
The profit dip was primarily due to surging expenses, which rose 32% to ₹1,129.16 crore. Major contributors included a 53.5% increase in employee benefit costs (₹62.79 crore), a 70.2% spike in depreciation and amortization (₹31.25 crore), and a 47.2% jump in material costs (₹468.38 crore).
Ravi Infrabuild, known for its highway, railway, and ropeway projects, has filed a draft red herring prospectus with SEBI for its IPO. The issue will be entirely a fresh offer, with no offer-for-sale component. Funds raised will be used for equipment purchases, investments in subsidiaries, debt repayment, and general corporate needs.
The company’s promoters—Narayan Singh Rao, Dilip Singh Rao, and Ravi Singh Rao—currently hold 84% of the pre-issue equity.
Ravi Infrabuild has completed major infrastructure projects for clients including the National Highways Authority of India (NHAI), the Ministry of Road Transport and Highways, and several state governments. (Source: IANS)
