Q4 2024 Ramkrishna Forgings Ltd Earnings Call Transcript
Key Points
- Ramkrishna Forgings Ltd (BOM:532527) reported a year-on-year revenue growth of 16% for Q4 FY24.
- The company achieved its highest-ever export sales in Q4 FY24, amounting to INR400 crore.
- Net profit after tax for Q4 FY24 increased by 31% year-on-year to INR87.3 crores.
- The company secured a significant contract worth USD220 million, enhancing its global footprint.
- Board approval was obtained for commencing manufacturing and supply operations in Mexico, expanding market reach.
- Revenue was negatively impacted by INR20.75 crore due to the Red Sea issue, with ships stuck in the channel.
- Freight costs increased by INR17 crore in Q4 FY24 due to rerouting caused by the Red Sea issue.
- Domestic revenue saw a decline sequentially, attributed to a slowdown in the commercial vehicle market.
- The company faced challenges with the ramp-up of JMT Auto due to equipment and infrastructure deterioration.
- The Red Sea issue is expected to continue affecting freight costs until resolved.
Ladies and gentlemen, good day, and welcome to the Ramkrishna Forgings Q4 FY24 earnings conference call hosted by Nuvama Wealth Management. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Raghunandhan from Nuvama Wealth Management. Thank you, and over to you, sir.
Good evening, everyone. Welcome. On behalf of Nuvama Wealth Management, I would like to welcome you all to this earnings call of Ramkrishna Forgings. I would like to welcome the management and thank them for giving us this opportunity.
We have with us today, Mr. Naresh Jalan, Managing Director; Mr. Lalit Khetan, Whole-Time Director and Chief Financial Officer; Mr. Chaitanya Jalan, Whole Time Director; and Mr. Rajesh Mundhra, Company Secretary and Vice President, Finance.
Before we begin, may I remind you of the Safe Harbor. The management may be making some forward-looking statements that have to be understood in conjunction with the uncertainty and the
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