KRBL Limited (KRBL) Q2 22/23 earnings summary

Executive summary

• Q2 FY23 was the highest-ever quarter, with standalone total income of ₹1,340 crore, EBITDA of ₹305 crore, PAT of ₹213 crore and EPS of ₹9.05.

• H1 FY23 revenue and profitability increased YoY, supported by export and domestic growth and improved realizations.

Financial highlights

• Q2 standalone PBT was ₹285 crore and PAT ₹213 crore; consolidated revenue was ₹1,31,928 lakh and PAT ₹21,310 lakh.

• H1 revenue from operations was ₹2,547 crore, up 23.1%; EBITDA rose 32.8% to ₹548 crore and PAT rose 36.0% to ₹378 crore.

• H1 gross profit was ₹865 crore, up 36.5% YoY; cash profit was ₹415 crore, up 32.0%.

• H1 cash generated from operations before tax was ₹169 crore higher YoY.

Outlook and guidance

• Management expected Q3 and Q4 to reflect H1 performance; planned paddy procurement was raised to 35% above last year.

• Saudi sales were projected at ₹550–600 crore for the year, with a ₹1,000 crore market target by 2024 including HORECA.

• Unity was on track for ₹1,000 crore turnover by FY25; regional rice turnover was projected at ₹60–70 crore next calendar year.

• Domestic plans focus on retail distribution, branded and regional products, health foods and Unity; export plans include small packs, channel expansion and a stronger India Gate HORECA lineup.