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Patel Integrated Logistics Ltd. Conference Call Summary
Conference Call Details • Date: August 2, 2024 • Purpose: Discuss unaudited financial results for Q2 ending June 30, 2024 • Host: PhillipCapital India • Key Participants: • Mr. Mahesh Fogla (Executive Director) • Mr. Avinash Paul (Company Secretary) • Format: Recorded session with Q&A
Financial Performance Overview • Total Gross Income: INR 96.89 crores (34.78% YoY growth) • Total Revenue (after GST): INR 82.67 crores • Total Expenses: INR 81.14 crores • Profit: INR 1.53 crores • Earnings Per Share (EPS): INR 0.24 (50% increase YoY) • Sales Volume: 14,535 tons (12% increase)
Key Highlights • Successful cost control measures maintained administrative expenses despite inflation. • Ongoing monetization of non-core real estate assets. • Launch of mobile app, FreightPILL, to streamline operations. • Anticipated growth in the air freight sector and exploration of growth opportunities.
Q&A Session Insights • Pune Location Progress: Ongoing discussions; no finalized agreements yet. • Volume Growth Breakdown: 12% overall increase; international volumes growing faster than domestic. • Gross Margins: Slight decline due to product mix shift; no significant margin-affecting factors. • Rights Issue: Approved and will be issued at a premium for stakeholder protection. • GST Notice: Received but no financial impact expected.
Closing Remarks • Optimism for the upcoming festive season. • Thanks extended to participants.
Conference Call Details • Date: May 13, 2024 • Purpose: Discuss audited financial results for Q4 and full year ending March 31, 2024 • Hosted by: PhillipCapital (India) Private Limited • Key Management Representatives: • Mr. Mahesh Fogla, Executive Director • Mr. Avinash Paul Raj, Company Secretary • Availability: Audio recording and transcript on the company website
Financial Highlights • Q4 FY24 Performance: • Turnover: Exceeded Rs. 100 crores • Total Income from Operations: Rs. 85.85 crores (after GST) • Profit After Tax: Rs. 1.67 crores • Full Year Performance: • Total Income: Rs. 292.52 crores • Net Profit: Rs. 5.54 crores • Earnings Per Share (EPS): Rs. 0.86 • Balance Sheet: • Total Assets: Rs. 192 crores • Net Worth: Rs. 119.32 crores • Cash Balance: Rs. 17.49 crores (net debt-free)
Growth and Strategy • Year-on-Year Growth: • 33% increase in income from operations • 22% increase in profit after tax • Asset-Light Model: • No plans to lease or own aircraft; partnerships with airlines • EBITDA margin: 4-5% • Logistics Volume: • Increased from 54,230 tons to 57,229 tons • Growth primarily from international operations • Future Opportunities: • Exploring warehousing in Pune • Rental yield from Bangalore facility: Rs. 4-5 lakh/month
Market Insights • Pricing in logistics sector improving due to global crises • Anticipated growth in aviation sector post-elections
Closing Remarks • Mahesh Fogla expressed gratitude for support and highlighted positive outlook for the company and aviation sector. • Conference concluded by PhillipCapital moderator.
Communication Submission • Date: February 8, 2024 • Submitted to: BSE Ltd and National Stock Exchange of India • Content: Audio recording and transcript of financial results presentation • Presentation Date: January 19, 2024 • Hosted by: Philips Capital India • Key Representatives: Mr. Mahesh Fogla and Mr. Avinash Paul Raj
Financial Overview (Q3 FY24) • Income from Operations: INR 90.51 crores (25.6% YoY increase) • Net Profit After Tax: INR 1.49 crores (28% YoY increase) • Total Expenses: INR 76 crores • Profit Before Tax: INR 1.5 crores • Nine-Month Total Income: INR 206.3 crores • Nine-Month Profit After Tax: INR 3.87 crores
Operational Improvements • Increased sales volume • Successful monetization of non-core assets • Focus on digital transformation with the launch of the Freight PILL mobile app • Aim for a paperless environment and improved accessibility
Growth Opportunities • Exploration of organic and inorganic growth • Strategic approach to monetizing non-core assets • Emphasis on achieving a level playing field in the logistics industry
Q&A Session Highlights • Quarterly Volume Figures: 15,115 tons for Q3 FY24 (up from previous quarters) • Confirmation of funds from Chennai land sale held in fixed deposits • New warehouse in Maharashtra in preliminary stages • Future Volume Growth: Optimism for 10-12% growth next year • Domestic Operations: Majority of volume; international operations account for 13-14% • Net Cash Positive Position: Manageable debt of around INR 20 crores • Upcoming Rights Issue: Primarily for compliance, not fundraising
Conclusion • Gratitude expressed to participants and organizers • Call concluded by PhillipCapital India Private Limited
Conference Call Details • Date: November 15, 2023 • Submitted Transcript: November 16, 2023 • Participants: • Mahesh Fogla (Executive Director) • Avinash Paul Raj (Company Secretary) • Vikram Suryavanshi (Moderator, PhillipCapital)
Key Financial Highlights • Income from Operations: Increased by 10% to ₹278.90 crores • Net Profit: Rose by 30% to ₹1.34 crores • Volume: Increased by 7% to 13,874 tons
Digital Transformation Initiatives • Introduction of FreightPILL mobile app to streamline operations and enhance customer experience. • Successful sale of a non-core asset in Chennai with plans to reinvest proceeds into growth initiatives, including warehouse construction in Maharashtra.
Future Outlook • Management expressed optimism about returning to revenue levels of ₹400-450 crores within two years. • Focus on improving return on capital employed while managing risks. • Plans to issue partly paid shares in the coming months.
Land Bank and Asset Management • Land bank value exceeds ₹100 crores; properties have redevelopment potential. • Recent proceeds of ₹6.06 crores from land sale in Chennai.
Warehouse and Business Strategy • New warehouse to operate as a standalone entity to enhance returns. • Evaluating potential to restart road or surface business. • Focus on expanding presence at airports to boost revenue.
EBITDA and Volume Projections • Projected improvement in EBITDA margins to around 4% with increased turnover. • Volume reported for the current quarter: 13,874 tons, up from 12,964 tons in the previous quarter.
Transparency and Reporting • Commitment to transparency through segment reporting for the air cargo business. • Positive trend in EBITDA margins compared to the last quarter, though specific numbers were not disclosed.
Conclusion • The call concluded with thanks to management and participants, emphasizing the company's strategic focus and growth potential.
Conference Call Overview • Date: August 10, 2023 • Hosted by: PhillipCapital • Key Management Representatives: • Mahesh Fogla (Executive Director) • Avinash Paul Raj (Company Secretary)
Financial Performance • Sales Volume: Increased by 3% quarter-on-quarter. • Sales Value: Declined due to global decrease in freight rates. • Profit Impact: Affected by employee salary increments.
Future Outlook • Sales Expectations: Optimism for improved sales figures in future quarters. • Real Estate Strategy: Ongoing efforts to monetize or redevelop undervalued assets. • Logistics Expansion: Plans to expand logistics operations. • Aviation Sector: Positive outlook supported by government initiatives.
Q&A Highlights • Rights Issue Forfeiture: Rs. 37 lakhs forfeited amount confirmed to be reflected in reduced paid-up equity share capital. • Core Business Revenue: Strategies in place to improve revenue despite challenges. • Land Valuation: Market value to be disclosed in the upcoming Annual Report; book value around Rs. 50 crores.
Financial Health • Turnover Goal: Aim to exceed last year's turnover of Rs. 320 crores. • Employee Costs: Acknowledged increase expected to persist. • Working Capital: Improvements noted; net debt-free status maintained. • Debt Status: Gross debt reported at approximately Rs. 20 crores.
Closing Remarks • Optimism: Management expressed confidence in future performance and commitment to stakeholder value.
Patel Integrated Logistics Q4 FY23 Earnings Conference Call Summary
Company Performance • Q4 FY23 Highlights: • Profit After Tax (PAT): ₹4.9 crores • Revenue: ₹280 crores (18% increase) • EBITDA: 21% increase • Focus Areas: • Digitalization and diversification of airline partnerships • Recovery of logistics sector to pre-pandemic levels • Exploration of real estate monetization opportunities
Operational Insights • Transportation Focus: • Primarily air cargo, with exploration in road transport • Goods transported include e-commerce products, pharmaceuticals, perishables, and documents • Debt Management: • Acknowledgment of large outstanding debts • Conservative approach to managing debtors and monitoring closely • Client Base: • Diverse portfolio, not reliant on any single customer • B2B business model contributing to a 90-day debtor cycle
Future Prospects • Growth Trajectory: • Optimism about future growth and recent debt reduction • Potential to leverage real estate for value creation • Advertising Strategy: • Engaged a public relations agency to enhance brand awareness • Revenue and EBITDA Recovery: • Confidence in returning to pre-COVID levels within a few years
Warehouse Contribution • Current Revenue Contribution: • Minimal, but exploring real estate for warehousing opportunities • Expected Returns: • Goal of double-digit Return on Capital Employed (ROCE) • Insights on break-even timelines for warehousing
Additional Inquiries • Gym Business Venture: • Rental revenue initiative tied to UFC GYM partnership • Monetization of Land: • Exploring options for recently acquired mortgage-free land (redevelopment, leasing, selling) • B2C Operations: • Acknowledgment of benefits but caution regarding cash-intensive nature
Closing Remarks • Mahesh Fogla expressed gratitude for participant insights and reassured commitment to strengthening fundamentals and growth in the logistics sector.