Q4 2024 MM Forgings Ltd Earnings Call Transcript
Key Points
- MM Forgings Ltd (BOM:522241) reported a turnover of INR1,585 crore, close to their guidance of INR1,600 crore.
- EBITDA margins improved to 19.4%, with expectations to cross the 20% mark by the end of the calendar year.
- Strong growth in exports, with an increase of 10% to 15%, and a 4% growth in the domestic market.
- Investment of around INR500 crore planned for the next 12 to 14 months to enhance capacity and growth.
- Positive outlook for the Indian market in H2, with expected growth of 10% to 12% overall for the year.
- Q4 FY24 was tepid, leading to a shortfall in the expected turnover.
- The American market is slowing down, which could impact export growth.
- Increased power costs due to Tamil Nadu government's policy to raise prices by 5% annually.
- Interest costs are expected to rise from INR45 crore to around INR65 crore.
- Challenges in the non-auto segment, with smaller ticket sizes and the need for more focus on profitability.
Ladies and gentlemen, good day, and welcome to MM Forgings Limited Q4 FY24 earnings conference call hosted by Batlivala and Karani Securities, India Private Limited. (Operator Instructions) Please note that this conference is being recorded, and I now hand the conference over to Mr. Annamalai Jayaraj from Batlivala and Karani Securities, India Private Limited. Thank you, and over to you, Mr. Jayaraj.
Thank you, Neerav. Welcome to MM Forgings Limited fourth FY24 conference call from the management side we have with us today Mr. Vidyashankar Krishnan, Chairman and Managing Director, Mr. Venkatakrishnan, Chief Financial Officer. I'll now hand out the call to Mr. Vidyashankar Krishnan for the opening remarks to be followed with the question-and-answer session. Over to you sir.
Thank you, Jeyaraj. Good afternoon, everybody. Today after the March 31,
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
