Here is a summary based on the transcript of their Q2 FY24 earnings conference call:
- FY25 Guidance: The company is confident of achieving its FY25 guidance of revenue CAGR of 14% and EBITDA CAGR of 24% over FY22-FY25E.
- Market Leadership: The company intends to maintain its leadership position and increased profitability in its core glasslined equipment (GLE) business, which has a global market share of 40% to 50%.
- Diversification: The company is expanding its non-GLE and systems business by cross-selling opportunities and exploring new application areas in segments such as oil and gas, minerals and mining, lithium, etc.
- Innovation and M&A: The company remains focused on innovation and M&A to drive growth. It recently acquired MixPro, a mixing company based in Canada, to strengthen its global presence and product portfolio in the mixing business, which has a market size of $3 billion.
- Order Visibility: The company has an order backlog of INR 1,705 crores, which translates to about 6 months of order visibility in India and about 7 to 8 months in the international business. It also has a strong opportunity pipeline across all business platforms and expects some large projects to materialize in the coming quarters.
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