K.P.R. Mill (KPRMILL) Q4 23/24 earnings summary

Executive summary

• FY24 remained difficult for textile spinning, but garment operations and integrated capabilities supported consolidated revenue of ₹6,127 crore and PAT of ₹805 crore.

• An aggregate dividend of ₹5 per share was declared or recommended, subject to shareholder approval of the final dividend.

Financial highlights

• Consolidated revenue from operations was ₹6,060 crore vs ₹6,186 crore YoY; total income was ₹6,127 crore vs ₹6,248 crore.

• Consolidated PBDIT was ₹1,304 crore vs ₹1,337 crore; PBT was ₹1,040 crore vs ₹1,084 crore; PAT was ₹805 crore vs ₹814 crore.

• Consolidated EPS was ₹23.56 vs ₹23.81 YoY; standalone PAT was ₹555 crore vs ₹635 crore, with EPS of ₹16.23 vs ₹18.57.

• Consolidated operating cash flow was ₹678 crore; investing outflow was ₹294 crore and financing outflow was ₹417 crore.

• Standalone other income included a ₹27.43 crore gain on redemption of subsidiary preference shares, a non-recurring item.

Outlook and guidance

• Indian textile demand and operating margins are expected to improve, supported by lower cotton prices, gradual export recovery and stronger domestic demand.

• Vortex spinning expansion, processing and printing capacity, rooftop solar and spinning modernization are expected to support future revenue growth and productivity.

• Management expects the government restriction on using sugarcane juice or syrup for ethanol production to be temporary, with normal production potentially restored next year.