2. Business Divisions

Premier Cryogenics Limited operates in several key business segments, making it a prominent player in the industrial gases sector:

• Industrial Gases Manufacturing: Premier Cryogenics manufactures a wide range of industrial gases, including both common and specialty gases. Its products serve multiple industries such as defense, healthcare, oil and gas, infrastructure, and manufacturing.
• Specialty Gases: Apart from traditional industrial gases, Premier Cryogenics is involved in the production and supply of high-end specialty gases like Helium, Hydrogen, and Freon. These gases are essential for critical applications in sectors such as research, healthcare, and electronics.
• Gas Components: The company also manufactures essential components for the gas industry, such as cylinders, valves, regulators, and liquid containers. These components are critical for the safe handling and transportation of gases.
• Power Generation: Through its subsidiary, PCL Power Private Limited, Premier Cryogenics focuses on generating power from natural gas for captive or group captive consumption. This division contributes to the company’s diversification and ensures energy efficiency.

3. Financial Highlights

Premier Cryogenics Limited has demonstrated solid financial performance in recent years, as evidenced by the following key financial metrics:

1. Revenue Decline:
   Premier Cryogenics reported a revenue of ₹7,748 crore in FY 2023, a decline from ₹9,524 crore in FY 2022. While the company’s revenue showed a decrease, it still maintains a strong presence in the industrial gas market, supported by the demand for its products across various sectors.
2. Gross Margins Improvement:
   Despite the decline in revenue, Premier Cryogenics achieved a gross margin of 71.44% in FY 2023, a significant improvement from 62.89% in FY 2022. This increase in gross margins demonstrates the company’s efficiency in managing its cost of goods sold and improving profitability.
3. EBITDA and EBIT Performance:
   Premier Cryogenics posted an EBITDA of ₹2,282 crore in FY 2023, compared to ₹2,689 crore in FY 2022. The EBIT for FY 2023 was ₹1,809 crore, down from ₹2,183 crore in FY 2022. While there was a decline in both EBITDA and EBIT, the company’s profitability remained strong, with an EBIT margin of 23.35% in FY 2023.
4. Profitability:
   The company’s PAT for FY 2023 stood at ₹1,219 crore, down from ₹1,637 crore in FY 2022. The Net Profit Margin (NPM) for FY 2023 was 15.73%, slightly lower than the 17.19% reported in FY 2022. This indicates a minor decline in profitability, primarily due to the decrease in revenue and other expenses.
5. Debt and Liabilities:
   Premier Cryogenics has maintained a relatively stable balance sheet. As of FY 2023, the company reported borrowings of ₹2,352 crore and total liabilities of ₹11,971 crore. Despite these liabilities, the company’s strong reserves of ₹8,190.5 crore in FY 2023 indicate its ability to manage financial obligations effectively.