- Total income for Q1 FY25 was INR 133.6 crores
- Overall volume increased by 14% year-on-year
- Gross margin was 25.2%, EBITDA margin was 9.3%
- Targeting revenue of INR 600 crores for FY25
- Aiming for EBITDA margin of 9-10% for FY25
- Long-term goal of INR 900-1000 crores revenue by FY27 with 11-12% EBITDA margin
- Revenue mix: 52% Polymer, 36% IBC, 12% Metal Drum
- IBC plant (Unit 7) operating at 50% capacity
- Metal Drum capacity being fully utilized
- Expecting 20% growth in IBC volumes over next 2 years
- Aiming to increase Metal Drum market share as capacity expands
- Expanding Metal Drum capacity from 30,000 to 50,000 per month, targeting 70,000 by Sept 2024
- Setting up new recycling plant (Unit 9) for backward integration
- Expanding IBC and Polymer Drum capacity in Maharashtra (Unit 8)
- Raw material prices have stabilized
- Export demand impacted by increased freight costs but now recovering
- Chemical industry growth driving demand
- Increased competition with new players entering market
- New IBC line in Maharashtra to add 144,000 units annual capacity
- Metal Drum capacity doubling from 10,000 to 20,000 tons per year
- Polymer Drum capacity increasing from 19,000 to 25,000 MTPA
- Export demand recovering after being impacted by high freight costs
- Targeting INR 600 crores revenue for FY25 with 9-10% EBITDA margin
- Long-term goal of INR 900-1000 crores by FY27 with 11-12% margin
- Capex of INR 45-55 crores per year planned for FY25 and FY26
- To be funded through internal accruals and cash balance
- Opportunities in recycling and backward integration
- Risk of overcapacity and margin pressure with new competitors entering
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