Sharing my notes from their recent concall.
FY24Q4 concall
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Incorporated in 2008, Unit I commercialized in 2012, Unit II commercialized in 2021 and Unit I was closed and operations were transferred to Unit II
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Engaged in Pre-Engineering Buildings such as construction of Factory sheds or Buildings, Showrooms, Warehouses. Have completed 250+ products
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Order booked until October 2024
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Unit I is rented out and earns 3.15 lakh/month
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Unit II capacity: 800 tons/month which can reach 2000 tons/month in 3-4 years(thereby reaching 200-250 cr. annual revenues)
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Capex will be done via internal accruals
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FY24 product mix
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Roll forming products (roofings sheets, purlins): 56.88%
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Structures (column beams / sheds from steel plates): 28.42%
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Coil trading: 8%
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FRP sheets, polycarbonate sheets, hardwares: 7%
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90% sales comes from Gujarat with remaining coming from UP, Bihar, and South India
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FY24 margins were lower due to lower prices (Steel price reduced from 80 in March 2023 to 57 in March 2024) and higher employee costs
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Have built 16-18 houses for ~80 labours and started canteen services
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Q1: Revenue was 28 Crs., tonnage was 787 ton
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Q2: Revenue was 26 Crs., tonnage was 501 ton
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Q3: Revenue was 25 Crs., tonnage was 980 ton
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Q4: Revenue was 24 Crs., tonnage was 1100
Disclosure: Not invested (no transactions in last-30 days)
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