Q3 2024 Bharat Wire Ropes Ltd Earnings Call Transcript
Key Points
- Bharat Wire Ropes Ltd (BOM:539799) reported a consolidated revenue of INR157 crore for Q3, marking a 9% year-on-year growth.
- The company's EBITDA for Q3 stood at INR44 crore, showcasing a 19% year-on-year increase.
- Net profit for Q3 was INR26 crore, reflecting a significant 39% year-on-year growth.
- For the nine months of FY24, consolidated revenue reached INR475 crore, an 11% year-on-year increase.
- The company has successfully reduced power and fuel costs from 10% to 7% of sales, contributing to improved EBITDA margins.
- Revenue for Q3 decreased by 1.2% compared to the previous quarter.
- Capacity utilization is currently at 60%, indicating underutilization of existing capacity.
- The company faces challenges in increasing product mix contributions, which remain in single digits.
- There is a dependency on subsidies, with INR55 crore yet to be disbursed and future subsidies uncertain.
- The company anticipates a significant time frame of 18-24 months to achieve 80-85% capacity utilization through debottlenecking.
Ladies and gentlemen, good day, and welcome to the Bharat Wire Ropes Limited Q3 and nine months FY24 earnings conference call hosted by Ventura Securities Limited. (Operator Instructions) Please note that this conference is being recorded.
I would now like to hand the conference over to Tushar from Ventura Securities Limited. Thank you, and over to you, Tushar.
Thank you and good day, ladies and gentlemen, on behalf of Ventura Securities Limited, I welcome you all to Bharat Wire Ropes Limited, Q3 and nine months FY24 earnings conference call. The company today represented by Mr. Mayank Mittal, Joint Managing Director; and Mr. Sushil Sharda, Director and Head of Finance.
I would now like to hand over the call to the Managing Director of the company, Mr. Murarilal Mittal for his opening remarks. Thank you, and over to you sir.
Thank you, Mr. Tushar and Ventura
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