Date and Context
• Date of Call: May 27, 2024
• Transcript Submission: May 29, 2024
• Focus: Audited financial results for the quarter and year ending March 31, 2024
Key Management Participants
• Santosh Raveshia: Managing Director
• Rahul Shah: CFO
Financial Performance Highlights
• Operational Revenue: Surpassed INR 1,500 crores
• Q4 FY '24 Revenue: Increased by 20% to INR 4,037.4 million
• Full-Year Revenue Growth: 26.8% to INR 15,371 million
• EBITDA Growth:
• Q4: 22.6%
• Full Year: 46.1%
• Profit After Tax (PAT):
• Q4: Increased by 29.6% to INR 469.3 million
• Full Year: Grew by 55.2% to INR 1,596.6 million
Strategic Initiatives
• Manufacturing Expansion:
• Investment of over INR 125 crores
• Ongoing construction of a large facility
• Acquisition: 51% stake in SKIDO Industries
• Product Portfolio Expansion: Focus on stationery and art materials
Future Outlook
• EBITDA Margin Forecast: Conservative estimate of 16% to 17% for FY '25
• Capital Expenditures: Planned investment of INR 210 to 225 crores in FY '25
• Revenue Growth Guidance: 22% to 25% for the upcoming fiscal year
Market Focus
• Domestic Market Priority: High demand and short supply
• Export Potential: Acknowledged but secondary to domestic focus
• Scholastic Segment Growth: Strong performance driven by capacity additions
New Initiatives
• DOMS Tots: New product line for toddlers
• DOMS Painting Studio: Interactive space for children, with plans for expansion
Capacity and Distribution
• Current Production Capacity: 2 million pens per day, with plans to increase to 3 million
• Retailer Engagement: Serves 120,000 retailers, focusing on satisfying existing customers before expanding
Conclusion
• Management's Commitment: Continuous investment in capacity and product development
• Positive Market Traction: Confidence in growth during the back-to-school season
• Call Closure: Management expressed gratitude and anticipation for future discussions.

Conference Call Details
• Date: February 12, 2024
• Submission Date: February 15, 2024
• Participants:
• Santosh Raveshia (Managing Director)
• Rahul Shah (CFO)
• Aniruddha Joshi (Moderator, ICICI Securities)
Financial Performance
• Quarter Ending December 31, 2023:
• Revenue: INR 3,716 million (22.3% YoY increase)
• EBITDA: INR 694 million (42.7% increase, 18.7% margin)
• Profit After Tax (PAT): INR 388 million (43.4% increase)
• Nine-Month Period:
• Revenue: INR 11,334 million (29.5% increase)
• EBITDA: INR 1,968 million (57.8% increase)
• PAT: INR 1,127 million (69.1% increase)
Growth Drivers
• Increased manufacturing capacity
• New product introductions
• Favorable product mix and raw material prices
Manufacturing and Investment
• Capital Expenditures: INR 280 million in Q3
• Future plans for expansion and new facility construction (INR 450 crores investment)
Market Insights
• General trade sales increased from 74% to over 75% of total sales
• Export sales declined from 21% to 18% due to lower demand in Europe
• Key product segments showing volume growth: wooden pencils and watercolor pens
Future Projections
• Projected growth rate for FY24: 25-26%
• Target market share: 11-12% in stationery, 29% in pencils
• Expected revenue growth for FY25: 20%-25%
Operational Changes
• Shift to cash-and-carry model improved working capital days to 37-38
• Focus on understanding consumer needs and maintaining backward integration
Product Development
• New product categories: conventional pens and scholastic adhesives
• Plans to increase pen production capacity to 6 million units
Financial Position
• Net cash position: INR 430 crores
• Net debt: INR 156 crores
Conclusion
• Optimistic outlook for growth across various segments with a focus on strategic expansion and conservative financial management.