Q1 FY 23 conf call details
- Figures are on consolidated basis
- Margins were impacted higher input and commodity prices
- Top line growth 98%
- EBITDA growth ~200%
- Building products section grew at 102%
- Building products EBIT grew 105% YoY
- Building products margins at 8%
- Brass and fuel and power price increases
- price hikes taken
- Plastic pipes top line grew at 96%
- retail business top line grew at 48%
- retail margin is 1%
- sanityware and faucets - 20% earnings from new products
- added 75 new distributors
- sanityware and faucets
- pipes - brownfield and greenfield expansion on track
- consumer appliances growth was 92%
- consumer appliances cooling products grew by 200%
- EBITDA hit due to PVC price change is ~7cr
- EBIT for plastic pipes is 5.6% vs 7.2% YoY
- EBIT for sanityware and faucets 13.2% vs 7.6% YoY
- Add 13cr to building products and that’s the normalised EBITDA margin
- 10% value migration to CPVC
- Retail margins would only move to ~4% because of price hikes
- industry leading margins to be achieved by Q3 in sanitaryware
- sanitaryware plant worked at 84% capacity
- faucets plant at 56%
- pipes plant at 35% capacity
- efficiency and acquisition margin impact should be visible in 12 months if cost price stabilises
- 37% is outsourced in sanitaryware and 50% in faucets
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