Q1 2025 Pitti Engineering Ltd Earnings Call Transcript
Key Points
- Consolidated revenue for the quarter stood at INR386.71 crores, showing strong financial performance.
- Standalone revenue grew by 21.92% to INR354.45 crores, indicating robust growth.
- Sales volume increased by 24.63%, reaching the highest ever volumes for the quarter.
- Successful completion of a fund raise of up to INR360 crores via QIP, strengthening the balance sheet.
- Optimistic outlook for the rest of the year with expectations to surpass annual targets of 48,000 tonnes on a standalone basis and 63,000 tonnes on a consolidated basis.
- One-time expenditures related to the BCIPL acquisition amounted to INR2.18 crores, impacting financials.
- Decline in exports revenue on a sequential basis, though it was up year-over-year.
- Blended EBITDA per tonne for BCIPL was lower due to accounting policy changes and inventory valuation adjustments.
- Employee costs and other expenses increased by 100 to 200 basis points in terms of sales.
- Concerns about the competitive landscape with MNCs entering the Indian market, potentially increasing competition.
Ladies and gentlemen, good day, and welcome to Pitti Engineering's Q1 FY25 Earnings Conference Call. (Operator Instructions)
Please note that this conference call will be recorded.
Before we begin, I would like to mention that some of the statements made in today's call may be forward-looking in nature and may involve risks and uncertainties. For a list of such considerations, please refer to the earnings presentation.
I would now like to hand the call over to Mr. Akshay Pitti. Please go ahead, sir.
Good evening, and a warm welcome to the Q1 FY25 earnings call. I will start with a brief overview of the performance during the quarter, followed by the q-and-a session.
We completed the acquisition of Bagadia Chaitra Industries Private Limited on May 6, 2024, the financials up to date are consolidated for the period. Consolidated revenue for the quarter stood at INR386.71 crores, EBITDA was INR56.35 crores and PAT was INR20.55 crores.
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