Q2 2024 Chaman Lal Setia Exports Ltd Earnings Call Transcript
Key Points
- Revenue increased by 16% year-on-year to INR 309 crores for the quarter.
- EBITDA grew by 37% year-on-year, reaching INR 36 crores.
- Significant progress in export markets, with a 20% year-on-year increase in export revenues.
- Proprietary brand sales accounted for approximately 11% of overall sales, growing by 91% year-on-year.
- Improvement in cash flow from operations, standing at INR 253 crores during H1 compared to INR 71 crores in the corresponding quarter of the previous year.
- Cyclone in June and export restrictions on basmati rice below USD 1,200 per metric ton impacted shipments.
- Conflict in Israel added to the challenges faced by the company.
- Inventory levels have gone down substantially, raising concerns about catering to international needs.
- Gross margins have come down to around 21% for the quarter.
- Challenges in domestic market visibility and distribution, with some regions like Kolkata facing availability issues.
(technical difficulty) Mr. Rajeev Setia, he's Joint Managing Director and CFO; and Mr. Sankesh Setia, Executive Director.
We shall now begin with the proceeding with Mr. Rajeev Setia giving a brief on the company's performance and followed by a Q&A session. So without further delay, I would like to hand over the floor to Mr. Rajeev Setia.
Just to inform, I'm joined by my colleague, Priyann Bhatia, and she will also manage the proceeding from here on. Thank you, sir, and over to you, sir, Mr. Rajeev Setia.
Good morning, everyone, on the second Q2 meeting of earning call of the company. Sorry, I will mute myself. Sankesh, you please start.
Good morning, and a warm welcome to all of you for the earnings conference call of Chaman Lal Setia
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