Agricultural Products company Chaman Lal Setia Exports announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue was Rs 384 crore, up 7% YoY Export revenue was Rs 339 crore, up 8% YoY EBITDA was Rs 36 crore, down by 27% YoY owing to an increase in freight cost, amid global trade route disruptions during Feb-Mar’24. EBITDA margin was 9.3% during the quarter PAT was Rs 23 crore, down by 38% YoY FY24 Financial Highlights: Revenue was flat during the year, at Rs 1,356 crore, amid cyclone impact in Q1, minimum export price restrictions in Q2/Q3, and global trade route disruptions in Q4 Despite this, EBITDA was highest-ever at Rs 162 crore, up by 2% YoY. EBITDA margin at 11.9%, +49 bps YoY PAT was Rs 116 crore, down 2% YoY EPS stood at Rs 22.36 during FY2024 Board recommends dividend of Rs 2.25 per share (dividend payout of 10% of FY2024 net profits) Healthy RoCE at 19% and RoE at 17% for FY2024 Commenting on the performance, Rajeev Setia, Joint MD & CFO, Chaman Lal Setia Exports Ltd, said: “Industry has witnessed yet another difficult quarter, particularly due to disruptions in shipments to key markets like USA, Europe, Canada, and parts of the Middle East. Despite this, Chaman Lal Setia achieved a 7% YoY growth in revenues for the quarter. Although our overall revenues for FY2024 remained stable amidst industry turbulence, I am delighted to announce that our company achieved its highest-ever EBITDA during this period, demonstrating our resilience and ability to navigating through adversity. As supply chain disruptions gradually stabilize and we pass on incremental costs to our customers, we anticipate a rebound in both revenues and profitability in the upcoming quarters. Moreover, the new generation in our management team has been instrumental in expanding our international footprint and strengthening our presence in existing markets, enhancing our export capabilities. Overall, we remain optimistic for the year ahead. With our strong execution capabilities, established customer relationships, and expanding distribution network, we are wellpositioned to achieve sustainable growth in the medium to long term." Result PDF
Agricultural Products company Chaman Lal Setia Exports announced Q3FY24 & 9MFY24 results: Key Highlights for Q3FY24: Revenue up by 30% QoQ and 13% YoY to Rs 400.1 crore, aided by improvement in exports Export revenue up by 38% QoQ and 16% YoY to Rs 367 crore EBITDA at record levels of Rs 52.0 crore, up 46% QoQ and 1% YoY PAT at Rs 38.7 crore, 48% QoQ and 3% YoY EBITDA and PAT margin at 13.0% and 9.7% respectively Key Highlights for 9MFY24: Revenue down by 6% YoY to Rs 972.1 crore, with government restrictions on exports and cyclone in H1 Despite this, EBITDA up by 14% YoY to Rs 126.3 crore and PAT up by 16% YoY to Rs 92.4 crore EBITDA margin expanded by 228 bps to 13.0%, with focus towards operational efficiency PAT margin expanded by 175 bps to 9.5% EPS stood at Rs 17.9, compared to Rs 15.4 in 9MFY23 Commenting on the performance, Rajeev Setia, Joint MD & CFO, Chaman Lal Setia Exports, said: “We are delighted to announce highest ever quarterly profits during Q3, showcasing our adeptness in overcoming industry challenges. Despite the headwinds with government restrictions on exports and cyclone led disruptions during H1, we achieved significant growth in both revenue and profitability during Q3. The new generation within our management team has played a crucial role in expanding our international presence and strengthening our foothold in existing markets, thereby enhancing our export capabilities. The quarter earmarked a promising growth in Asia Pacific, Middle East & Africa region. Additionally, we are gradually shifting our focus towards our proprietary brands and value-added products, such as rice suitable for diabetes and brown rice. These products have received strong consumer acceptance, reinforcing our confidence in their role in driving the Company's future growth. Overall, we are highly optimistic about our prospects for the year. With our robust execution capabilities, solid customer relationships, and expanding distribution network, we are well-positioned to achieve sustainable growth in the medium to long term." Result PDF
Other Agricultural Products company Chaman Lal Setia Exports announced Q1FY24 results: Revenue from operations stood at Rs 263.4 crore Sales Volume (ex-China) declined by 19% YoY Gross Margin expanded by 285 bps to 25.3% compared to 22.4% in Q1FY23 EBITDA increased by 17% YoY to Rs 38.7 crore EBITDA margin expanded by a healthy 664 bps to 14.7% compared to 8.0% in Q1FY23 Net Profit increased by 23% YoY to Rs 27.5 crore EPS stood at Rs 5.3 compared to Rs 4.3 in Q1FY23 Commenting on the performance, Rajeev Setia, Joint Managing Director & CFO, Chaman Lal Setia Exports, said, “We are delighted to start this year with a healthy margins profile. With sustained momentum and focus towards our execution excellence, our EBITDA margin grew by a healthy 664 bps YoY to 14.7%, while PAT margin was up by 500 bps YoY to 10.4% in Q1FY24. Our quarterly revenue declined by 36% YoY in Q1FY24, an impact attributed to weather disruptions occurring at the Gujarat ports in June, due to the Biparjoy cyclone. Our EBITDA was up by 17% YoY to Rs 39 crore, supported by moderation in freight expenses, improved realizations, and our efforts toward operational efficiency. Our value-added product, Rice suitable for diabetes has contributed 8% to the overall revenues in Q1FY24. Given our commercial strength, we are well-positioned to leverage on the growing opportunities.” Result PDF