Concall notes from the past 2 quarters.
FY23Q1
- Past management of LDC didn’t go to customers for price increase which Suprajit management is now undertaking. Additionally, they gave price increases to their suppliers.
- Customers will also come back to ask for price reduction if commodity costs keeps softening
- Phoenix lamps division: Have made price increases in after-market in March 2022. Have also passed on price increase to a majority of OEMs except one. Not everything has kicked in numbers yet. Game remains to be the last man standing and it is still sometime away
FY23Q2
- Phoenix lamps division: Margin challenge continues with difficulty in passing price increase in after market segment
- Hungarian plant: facing high wage pressure, inflation and currency depreciation
- Expect profitability in Q3 in LDC and double digit margins by Q4FY24. Cut FY23 revenue guidance to $90mn
- LDC: 21% (Hungary) + 20% (China) + rest (Mexico)
Disclosure: Not invested (no transactions in last-30 days)
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