- Net Debt has reduced from 910 cr in FY23 to 698 cr in Q1 FY24.
- WC days have also reduced from 95 to 72.
- Order book status is currently 2678 cr. Defence order book out of which is 1054 crores.
- Defence revenue reached a new high at INR 155 crores, with a growth of 142% YoY. Defence revenue expected to exceed INR 700 crores annually.
- EBITDA margins increase was supported by defence sales.
- Expectation of higher prices in the second half of the year for raw materials. This might affect margins in H2FY24. Need to check.
- Plans to increase global manufacturing presence from 8 to 12 countries. Expansion plans in Indonesia and Australia to contribute to volume growth. Expectation of breakeven in South Africa and profitability in Australia in FY24.
- Future Outlook: Expected annualized volume growth expected to be 15-20%. Margins should be maintained around 20-22%. Improvement in housing and infrastructure demand is expected from Q3 onwards. Capex plans of INR 750 crores for the year, funded by cash generation from operations.
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