Kirloskar Ferrous Industries Ltd (BOM:500245)
₹ 630.1 -28.65 (-4.35%) Market Cap: 103.69 Bil Enterprise Value: 116.30 Bil PE Ratio: 37.57 PB Ratio: 3.11 GF Score: 94/100
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Q3 2024 Kirloskar Ferrous Industries Ltd Earnings Call Transcript

Feb 05, 2024 / 10:30AM GMT
Release Date Price: ₹637.7 (-0.36%)

Key Points

Positve
  • Sales turnover increased to INR 968 crores in Q3 FY '24 from INR 880 crores in Q2.
  • CapEx program is progressing as planned, with the pulverized coal injection (PCI) expected to be completed this quarter.
  • Long-term loans are controlled at around INR 800 crores for the quarter.
  • The company is running all three blast furnaces, with a potential liquid metal production of 1,65,000 metric tonnes per quarter.
  • The company is making significant strides in green energy, with plans to commission a 17-megawatt solar power plant and additional wind power projects.
Negative
  • Sales realization of pig iron dropped by INR 2,000 per tonne compared to Q2.
  • The castings realization also decreased to INR 1,24,000 from INR 1,26,000.
  • The iron and steel industry is under pressure with respect to margins due to high coal prices and increased iron ore prices.
  • Global demand for iron and steel remains under pressure, with oversupply issues exacerbated by the restored supply chain from Ukraine and Russia.
  • The tractor industry, a significant market for castings, is experiencing a drop in demand, affecting overall casting sales.
Operator

Ladies and gentlemen, good day, and welcome to Q3 FY '24 Earnings Conference Call of Kirloskar Ferrous Industries Limited, hosted by Antique Stockbroking. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Pallav Agarwal from Antique Stockbroking. Thank you, and over to you.

Pallav Agarwal
Antique Stockbroking Ltd. - Analyst

Yes. Thank you, Muskan. A warm welcome, everyone to the third quarter results call of Kirloskar Ferrous Industries. We have the senior management team from Kirloskar Ferrous represented by Mr. R.V. Gumaste, the Managing Director; and R. Srivatsan, the ED Finance and the CFO.

So I would now like to hand over the call to Mr. Srivatsan for his opening remarks. Over to you, sir.

Raviprakasha Srinivasa Srivatsan
Kirloskar Ferrous Industries Ltd - CFO, Executive Director of Finance & Executive Director

Thank you, Pallav. Good evening, everyone. Thanks for the interest shown in Kirloskar Ferrous Industries Limited.

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