Q3 2024 Elgi Equipments Ltd Earnings Call Transcript
Key Points
- Elgi Equipments Ltd (BOM:522074) reported a 6.5% increase in sales compared to Q3 of the previous year.
- The company maintained strong profitability, with an EBITDA of INR 1294 million despite increased employee costs.
- The Middle East and Indian markets performed well, with the Middle East exceeding plans and India showing good growth.
- The company has a strong net cash position, which continues to improve.
- Elgi Equipments Ltd (BOM:522074) expects Q4 to have a better top line than Q3, with profitability following a similar pattern.
- The top line performance in North America was disappointing due to ERP implementation challenges.
- Sales in Australia and Southeast Asia were lower than the previous year, with Southeast Asia continuing to be a challenging market.
- Employee costs increased significantly in North America due to filling vacant leadership positions.
- Inventory and receivables are on the higher side, partly due to logistics challenges and the Red Sea problem.
- The company faced a 6% to 7% degrowth in North America, impacting overall profitability.
Okay. Shall we start to go up because.
Okay,
Good evening, everyone. On behalf of Asian markets, we welcome you all to the 3Q FY '24 our next webinar of Elgi Equipments symmetric. They have pleasure in inviting Mr. Jairam Varadaraj, that Managing Director from the company. I would request Mr. Jairam, to take us through the presentation with the 3Q and Nine Months highlights, and then we'll follow with the Q&A session over to you sir. Thank you.
And thank you very much, Kamlesh for hosting this conference or the call. Ladies and gentlemen, it's such a pleasure for me to be with you this evening. I will take you through our performance for Q3. I will start with the disclaimer in terms of compliance with all the regulatory
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