Key takeaways from Q4FY24 earnings call transcript:
Financial Performance: The company reported a 9% increase in total income for the quarter and full year. However, profitability margins declined due to changes in the product mix, particularly from slower EV customer business.
Smart Meters Market: There is a significant opportunity in the domestic smart meters market, driven by government policy. Out of a target of 250 million meters, only 11 million have been installed. The company is expanding its product offerings in this segment.
Alloys Facility: The new alloys facility commenced in Q4, focusing on products with quicker scale-up and longevity. The company is in advanced talks with prospective customers in oil, gas, and aerospace for commercial supplies.
Quantum Magnetics: Revenue from quantum magnetics is expected to scale in the coming years, starting with components and assemblies made from rare earth magnets, with further backward integration planned.
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