SBCL_Q3_Conncall Highlights (Source :Screener Notes)
• Q3 FY24 total income increased by 4.31% to Rs.112.17 crore
• EBITDA for nine months rose by 4.74% to Rs.81.03 crore
• Profit after tax improved by 3.56% to Rs.55.64 crore
• Declared an interim dividend of 35%, Rs.0.70 per equity share
• Significant growth in Thermostatic, Bimetal, Trimetal segments in Q3 and nine months FY24
• Positioning well in Asia region for global electrification landscape
• Challenges in America, particularly in Shunt Register category
• Shunt sales split: 65-70% automotive, 13-14% energy meters, 8% energy storage
• Confident in ability to navigate market dynamics and deliver value with solid cash position of Rs.25 crore
• Working on business plans and feasibility study for Metalor MOU for Bimetal JV
• Contact business EBITDA margin at 11-12%, expected to improve with new plant and higher volumes
• Capacity utilization for Shunt and Bimetal at 35-38%
• Bimetal gross margin: 44-46%, Shunt gross margin: 48-52%
• EBITDA margin for both products combined in the range of 22-26%
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