Excerpts from Concall Q1FY24
- Demand is coming from off-road segment
- New client: Cummins
- Order book: Rs. 16.9 billion as on 30th June 2023 v/s 13.3 billion as on 31st March 2023
- Cx Stickiness: Received Platinum award from Raytheon Group which is the second highest award in their group (imo, genuinely seems like a difficult to get award)
Guidances:
- Targeting to grow 2x than industry – * 20% growth, 20% EBITDA, 20 ROCE
- Aerospace sector: ~50% growth. A recovery in performance should happen in upcoming quarters
- MMRFIC: Need another 18 to 24 months
- Debt: Expect overall debt to be between 680 to 700 by year-end
- Expect degradation of working capital cycle – due to international market. EBITDA margins could slightly improve
- Look for End of Q3 (I am assuming Q4): Plan to add capacity in US could be finalized. Company is already supplying to GM/Tesla and now cummins
***** The below section isn’t from concall ****
About Raytheon Group and the award
- American multinational aerospace and defense conglomerate
- One of the largest aerospace and defense manufacturers in the world by revenue and market capitalization, as well as one of the largest providers of intelligence services
- Large military contractor for U.S.A
Source: Wikipedia and RTX website
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