Sirca Paints India Limited

So last con call, we had guided for a minimum of 40% growth for this financial year in terms of revenue and with EBITDA margins of 22%, 23%. But it seems we are not close to that. So would you like to revise our guidance for this year? Or still we can achieve this 40% growth?

Yes, quarter 2 including quarter 1, which was because of the extended summer and labour problem in quarter 2 because of the extended monsoons – August and September, the demand from the real estate and the home furnishing side went really down and it was quite a muted demand in both the quarters have – had led to a lesser percentage of growth in revenues than what we expected. Though compared to the industry, we moved a little better, thanks to the new addition of the brand and thanks to the acrylic range of products, where we are still dominating the market with very less competition, which helped us to achieve the numbers, which are much with a quite or much better than the industry results. But going forward, the second half, in any case, with our ground results are expected to be better in terms of the demand. The projects should open up and we are keeping our finger crossed that if the later chunk of the second half performed well. And with the better distribution network and acrylic products picking up, which are high value. We should be able, or we should be very close to achieve the number that we quoted in our last – in revenue calls and in last investor call. And so we are hoping, and we are quite positive that we should reach to those numbers.

And the EBITDA margins of 22%, 23% for the whole year?
So currently, we have taken a price hike, and which has been done across the sector. Along with that, we’ll have also a better condition related to the raw material. But considering our Page 7 of 17 Sirca Paints India Limited November18, 2024 acquisition of Welcome where the revenue, we have increased revenues at a gross margins, which are a little less than our gross margins of Sirca products. We are expecting that the EBITDA should stand – the whole year EBITDA should stand around or between 20% to 21%.