Q1 2025 Usha Martin Ltd Earnings Call Transcript
Key Points
- Revenue in the core wire rope segment increased by 7.5% year on year, and revenue in the wire segment increased by 8.9% year on year.
- Operating EBITDA margin improved to 18.6%, up from 17.9% in Q1 FY24.
- Net debt reduced significantly to INR73 crore as of June 30, 2024, down from INR124 crore at the end of March '24.
- Revenue from international markets accounted for 56% of total revenue, indicating strong global demand.
- The company has introduced value-added plasticated LRPC products, which are expected to positively impact the LRPC segment.
- Notable decline in the LRPC segment, both in terms of volume and revenue.
- Despite overall revenue growth, the consolidated net revenue from operations only increased by 1.5% year on year.
- Employee benefit expenses increased significantly from INR109 crore to INR126 crore quarter on quarter.
- The company faces challenges in ramping up volumes due to macroeconomic and geopolitical factors.
- The LRPC segment remains highly sensitive to steel price fluctuations, impacting overall margins.
Ladies and gentlemen, good day, and welcome to the earnings conference call of Usha Martin Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Devrishi Singh from CDR India. Thank you and over to you, Mr. Singh.
Thank you. Good afternoon, everyone, and thank you for joining us on Usha Martin's Q1 FY25 earnings conference call. We have with us Mr. Rajeev Jhawar, Managing Director of the company; Mr. Abhijit Paul, Chief Financial Officer; and Ms. Shreya Jhawar from the Strategy and Growth team of the company.
We hope all of you have had the opportunity to refer to the earnings documents that we shared with you earlier. We would now like to initiate the call with the opening remarks from the management, following which we will have the forum open for a Q&A session.
Before we start, I would like to point out that some statements made in today's call may be forward-looking in nature and a disclaimer to this effect has
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