Q3 2024 Mallcom (India) Ltd Earnings Call Transcript
Key Points
- Mallcom (India) Ltd (BOM:539400) achieved a significant milestone, marking 40 years of successful operations.
- The newly established garment unit in West Bengal is now fully operational.
- The company is progressing on its greenfield project at Sanand, Gujarat, with development proceeding according to schedule.
- Mallcom (India) Ltd (BOM:539400) has invested INR 28 crores in the Sanand project, with an additional INR 32 crores expected over the next two quarters.
- The company is seeing good growth in the domestic market and other regions like Asia and the Middle East.
- Operating revenues for the third quarter declined by 4% year-on-year and 12% quarter-on-quarter due to supply chain disruptions and relocation of the garment unit.
- EBITDA margin for the quarter declined by 230 basis points year-on-year and 209 basis points quarter-on-quarter.
- Net profit for the quarter declined by 371 basis points year-on-year and 138 basis points quarter-on-quarter.
- The European market experienced a 20% decline, attributed to both supply chain issues and economic challenges in Europe.
- The company anticipates only a high single-digit revenue growth for FY '24, falling short of the previously targeted 15% growth.
Ladies and gentlemen, good day, and welcome to the Mallcom India Limited's Q3 and 9 Months FY '24 Earnings Conference Call. (Operator Instructions)
I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, ma'am.
Good morning, everyone. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations for Mallcom India Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the third quarter and 9 months ended financial year 2024.
Before we begin, let me mention a short cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated.
Such statements are based on management's beliefs as well as assumptions made by and information currently available to the management. Audiences are
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