Indo Count Industries (521016) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue was Rs 355,706.92 lakh and PAT Rs 33,792.50 lakh, versus Rs 301,155.44 lakh and Rs 27,677.67 lakh in FY23.

• FY24 total income reached ₹3,601 Cr, EBITDA ₹603 Cr and PAT ₹338 Cr; volume was 96.8 Mn metres, up 30% YoY.

• Strategy emphasizes value-added and branded products, omnichannel expansion, operational efficiency and sustainability; FY24 volume and margin guidance was achieved.

Financial highlights

• Q4 FY24 total income was ₹1,093 Cr, up 35%; EBITDA was ₹166 Cr, up 13%; PAT was ₹92 Cr, down 3% YoY.

• Q4 consolidated revenue was Rs 109,325.92 lakh versus Rs 80,707.68 lakh; PAT was Rs 9,194.32 lakh versus Rs 9,471.52 lakh.

• FY24 EBITDA margin was 16.7%, up 78 bps; Q4 margin was 15.1%, down 301 bps YoY.

• FY24 consolidated basic and diluted EPS was Rs 17.06 versus Rs 13.97 in FY23.

• FY24 volumes were 96.8 Mn metres versus 74.7 Mn; Q4 volumes were 28.7 Mn metres.

Outlook and guidance

• FY25 volume guidance was 110–115 Mn metres and EBITDA margin guidance 16%–18%.

• Revenue doubling to INR 6,000 crore is expected by FY27; FY25 demand was viewed as better than FY24.

• Branded business target is $100 million within 3–4 years; branded products could reach 5%–10% of revenue, with 15% also discussed as potential.

• A debt-free position is targeted over the medium term, with further debt reduction expected as operating cash flow grows.