Conference Call with Rajoo Engineers Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Industrial Machinery company Rajoo Engineers announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: - Revenue from operations: Rs 52.68 crore; a decrease of 26.26% YoY from Q4FY23's Rs 71.43 crore. - EBITDA (Excluding Other Income) Q4FY24: Rs 8.96 crore; up 38.45% from Q4FY23's Rs 6.47 crore. - EBITDA Margin Q4FY24: 17.02%, an increase of 796 basis points YoY. - PAT Q4FY24: Rs 7.08 crore; a growth of 31.35% from Q4 FY23's Rs 5.39 crore. - PAT Margin Q4FY24: 13.45%, up by 590 basis points YoY. FY24 Financial Highlights: - Revenue from operations: Rs 197.35 crore; up 23.51% from FY23's Rs 159.79 crore. - EBITDA (Excluding Other Income): Rs 26.68 crore; a significant growth of 90.35% from FY23's Rs 14.02 crore. - EBITDA Margin: 13.52%; a boost of 475 basis points YoY. - PAT: Rs 21.01 crore; an 82.86% increase from FY23's Rs 11.49 crore. - PAT Margin: 10.65%, which is higher by 346 basis points from the previous fiscal year. Strategic and Operational Developments: - Successfully developed and unveiled India's first 9 layer blown film line for recyclable barrier film. - Executed a high output sheet extrusion system for reputed clients such as Cosmo Films and Berry Global Inc. - Acquired strategic land amounting to 28,000 sq. ft for future development and operational enhancements. - Company executed a buyback of 9,42,300 equity shares at Rs 210/- per share. Commenting on the Company’s performance, Khushboo Chandrakant Doshi, Managing Director, Rajoo Engineers said: We have closed the last quarter of FY24 on a strong note in terms of our operational efficiencies. During the fourth quarter, we registered a revenue of Rs 52.68 crore. EBITDA and PAT grew 38.45% and 31.35% YoY to Rs 8.96 crore and Rs 7.08 crore, respectively. While delays in product lifting & dispatches hampered the quarter’s revenue, our intensive efforts bolstered by a larger sales team, to explore new territories helped increase revenue during the year. A revival in demand for sheet extrusion lines and thermoformers also helped boost growth. Improvements in capacity utilization & other operational efficiencies also helped improve margins. This resurgence coincides with encouraging global capital expenditure trends within the industry. Over the past 18 months, the company has experienced a substantial uptick in both inquiries and orders, attributing to a surge in revenue during FY24. This positive momentum underscores the effectiveness of the company's strategic initiatives and highlights its ability to capitalize on emerging opportunities in the market." Result PDF