KRBL has reported a revenue growth of 15% YoY with growth in domestic market at 19%. EBIDTA and margins are broadly flat YoY
Overall export performance was disappointing. Export revenue excl Q4 slip over to Q1 would be only 120 cr. Big YoY fall.
Saudi market is not getting stabilized. After selecting a new distributor a year back they have again started to look for a new distributor for Saudi. This time last distributor was asking for higher discount and credit that’s why company has stopped working with them. Management is guiding to finalise distributor by 15th Aug and expecting revenue to increase significantly from H2FY24.
Interestingly, there was no discussion abt the 8000 cr guidance which was given multiple time in past concalls.
One positive was the buyback after many years of shareholders request.
Dis- Invested
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