PL First Cut – RRKabel 2QFY24

PL First Cut – RRKabel 2QFY24
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Prabhudas Lilladher Pvt Ltd

Highlights

PL First Cut – RRKabel 2QFY24 – Praveen Sahay – Research Analyst, Prabhudas Lilladher Pvt Ltd

PL First Cut – RRKabel 2QFY24 – Praveen Sahay – Research Analyst, Prabhudas Lilladher Pvt Ltd

RRKabel 2QFY24 Result First cut: Miss on Topline; Inline Margins

(CMP: Rs1,450| Mcap: Rs163.6bn | BUY)

➡️ Revenues grew by 17.7% YoY to Rs16.0bn (PLe: Rs16.6bn).

➡️ Gross margins expanded by 240bps YoY to 19.9%. (PLe:18.2%)

➡️ EBITDA grew by 87.7% YoY to Rs1.2bn (PLe: Rs1.2bn). EBITDA margins expanded by 280bps YoY to 7.5% (PLe: 7.4%).

➡️ PBT grew by 112.8% YoY to Rs1.05bn (PLe:Rs1.02bn)

➡️ PAT grew by 111.6% YoY to Rs741mn (PLe:Rs775bn).

➡️ Wires & Cables revenues grew by 19% YoY to Rs14.5bn (PLe: Rs14.8bn) on strong volume growth in both domestic and international business.

➡️ FMEG revenues up by 7.4% YoY to Rs1.6bn (PLe: Rs 1.8bn).

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