Geekay Wires Ltd

Geekay Wires Q2 Results Review:

Good Set

Revenue Growth lag YoY only 4%, while QoQ of 11.5%, Much of the growth comes from domestic verticle & Other Income

EBITDA Margin expanded to 8% from 4% YoY (Lower QoQ)

PAT Growth of 3x (more than 200%) YoY n 18.6% QoQ

PE back to around 10-11 times

Worrying things:

1. Sales growth is flat around 100-110 Cr in last 4 years
2. OPM margin expanded a lot, need to track it sustainability
3. From next quarter, high base Revenue & PAT would start
4. Foreign Revenue can lag growing forward seeing macro headwinds