Q4 2024 Orient Bell Ltd Earnings Call Transcript
Key Points
- Orient Bell Ltd (BOM:530365) achieved a 7% volume growth and a 3.7% value growth in Q4 FY24.
- The company has successfully increased its share of glazed vitrified tiles (GVT) in the sales mix to 30% from 23% in FY23.
- Operational efficiencies have helped maintain gross margins despite offering better discounts to counter competition.
- The company launched its first-ever all-India TV campaign, resulting in a 50% increase in brand awareness over four months.
- Orient Bell Ltd (BOM:530365) commissioned its Dora plant GVT line ahead of schedule and at a reduced CapEx cost of about 18%.
- Net sales for FY24 dropped by 4.3% to INR669.5 crore compared to INR699.6 crore in FY23.
- Volume dropped by 2% for the full year, indicating a slowdown in overall demand.
- The slowdown in exports, especially in H2, led to Morbi capacity being diverted to the domestic market, putting pressure on realizations.
- Reported EBITDA margins were lower at 5.9% due to additional investments in brand building.
- The company faces challenges from potential anti-dumping duties on Indian tiles by the US, which could impact future exports.
Ladies and gentlemen, good day and welcome to the Orient Bell Limited Q4 and FY earnings conference call. As a reminder all participants line will be in the listen-only mode and there will be an opportunity for you to ask question after the presentation concludes. (Operator Instructions)
Please note that this conference is being recorded. We have with us today on the call from the management from Orient Bell Limited, Mr. Aditya Gupta, Chief Executive Officer, and Mr. Himanshu Jindal, Chief Financial Officer, along with the Stellar IR Advisors. The management will be sharing key updates and financial highlights for the quarter and year ended March 31, 2024, which we will be followed by a question and answer session.
Please note that some of the statements made in today's discussion may be forward-looking in nature and may involve risk and uncertainties. Orient Bell Limited will not be in any way responsible for any action taken based on such statements and undertaking no obligation to publicly update these forward-looking statements.
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