Q3 2024 Rupa & Company Ltd Earnings Call Transcript
Key Points
- Rupa & Co Ltd (BOM:533552) reported a 35% year-on-year revenue growth in Q3 FY24, reaching INR319 crores.
- EBITDA for the quarter grew by 131% year-on-year, with margins improving by 430 basis points to 10.3%.
- Net profit for the quarter increased by 276% year-on-year, with PAT margins rising by 420 basis points to 6.5%.
- Sales volume showed robust double-digit growth, with a 45% increase in Q3 and 21% growth over nine months of FY24.
- The company significantly reduced its net debt from INR134 crores in March '23 to INR13 crores in December '23.
- Exports remained muted and contributed only 3% to overall revenue in the nine months of FY24.
- Gross margins declined on a quarter-on-quarter basis due to a change in product mix and additional dealer incentives.
- The women's wear segment saw a decrease in contribution, dropping from 12-13% to around 10%.
- Thermal sales underperformed expectations, contributing only 8% to total sales, below the anticipated INR100 crores.
- The company is still in the process of finding a suitable CEO, which may impact long-term strategic execution.
Ladies and gentlemen, good day, and welcome to the Q3 FY24 earnings conference call of Rupa & Company Limited, hosted by Orient Capital. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sumeet Khaitan from Orient Capital. Thank you, and over to you, sir.
Yeah. Thank you, Muskan. Good afternoon, everyone. Thank you for joining us on the call today. We are joined by the management of Rupa & Company Limited, represented by Mr. Vikash Agarwal, Whole-Time Director; and Mr. Sumit Khowala, Chief Financial Officer.
Before we begin, I would like to give a small disclaimer that this conference call may contain certain forward-looking statements which are based on beliefs and opinions as on date of this call. These statements are not guarantees of the future performance and involve risks, which are unforeseen and difficult to predict.
A detailed disclaimer has been added to the reference presentation, which was uploaded
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