BUILDING materials manufacturer Ajiya Bhd has posted a revenue of RM80.97 mil and a net profit of RM5.56 mil for its 1Q FY 2025 ended March 31, 2025.
For the record, Ajiya had on May 17, 2024 changed its financial year end from Nov 30 to Dec 31, starting with the financial year ended Dec 31, 2024.
This means that the group’s current financial reporting period is 13 months, from December 1, 2023, to December 31, 2024.
The group’s gross profit margin notably improved to 19.48%, up from 17.13% recorded in the corresponding quarter last year, thus highlighting operational efficiency and enhanced cost management initiatives.
Asia Roofing Industries (ARI), a key business division of Ajiya, also demonstrated improved profitability with its gross profit margin edged up 20.73% from 18.96% in 1Q FY2024.
“The resilient Malaysian construction sector continues to support steady demand for our products,” commented Asia Roofing Industries Sdn Bhd director Ng Wai Luen of Ajiya’s 1Q FY2025 performance.
“Going forward, Ajiya in collaboration with other Chin Hin Group Bhd’s building material companies is embarking on launching ESG (environment, social and governance)-compliant products in July through both our glass and metal divisions.
“These products will significantly reduce operational and embedded carbon, thus enabling building and homeowners to benefit from lower cooling costs.”
Recall that Chin Hin Group had on April 24 completed its purchase of an additional 12.27% stake in Ajiya for RM54.2 mil to raise its stake in the latter to 66.36%.
Additionally, Ng revealed that Ajiya Glass Marketing Sdn Bhd which was launched in 2024, has quickly recorded strong growth in the wholesale glass business, hence opening new revenue opportunities which are distinct from the group’s traditional glass processing operations.
“In our metal division, we have introduced the Premium Rock series of metal roofing, strategically designed to penetrate the significant residential roofing market traditionally dominated by concrete roof tiles,” he further shared.
“This targeted innovation is expected to contribute positively to our earnings moving forward.”
As it is, Ajiya’s balance sheet remains healthy with strong operating cash flows of RM19.91 mil generated during the quarter under review to further supporting the group’s operational stability and growth objectives.
In addition, the group continues to maintain a robust net cash position with cash and bank balances comfortably exceeding total borrowings, underscoring its disciplined approach to financial management and ability to support sustainable growth objectives.
Looking ahead, Ajiya remains cautiously optimistic for the remainder of FY2025 given the expected steady performance of the domestic construction industry.
The goup will continue to focus on operational efficiency, product diversification, timely project delivery and expansion in regional markets.
At the close of today’s (June 3) market trading, Ajiya was unchanged at RM1.75 with no share traded, thus valuing the company at RM533 mil. – June 3, 2025
