Earnings Performance
• Q4 FY24 Revenue: INR 546 Cr (12% increase from Q3 FY24, down 8.3% year-on-year)
• EBITDA: INR 143.5 Cr (26.2% margin)
• PAT: Increased by 21.6% quarter-on-quarter, decreased 23.3% year-on-year
• FY24 Total Revenue: INR 2,123 Cr (29.8% decline)
• Management Insights: Stable raw material prices and optimal capacity utilization noted.
Thailand Project Updates
• Approval Status: One approval received; second expected soon.
• Commissioning Timeline: Planned for end of June 2024.
• SEZ Land Allotment: Progress made; awaiting official letter for final payment and environmental clearance.
Revenue Mix and Product Development
• Revenue Mix: No significant changes; variations attributed to market demand.
• New Product Development: Ongoing approvals for Thailand and Indian plants; revenue from new products contingent on regulatory approvals.
Market Recovery and Capacity Utilization
• Market Recovery: Most markets recovering except Europe.
• Patalganga Facility Utilization: Estimated timeline of 2 to 4 years for full utilization.
Financial Position and Future Plans
• Cash Reserves: Increased from Rs. 422 crores in 2023 to Rs. 900 crores.
• Investment Strategy: Focus on profitable companies for acquisitions; considering new plant investments, including outside India.
Challenges and Concerns
• Export Market Challenges: Global slowdowns, regulatory delays, and land acquisition issues cited.
• Zero Borrowing Status: Attributed to completion of previous expansion repayments.
Conclusion
• Future Outlook: Commitment to customer demands and plans for capacity expansion discussed; invitation for further inquiries extended.