Q3 2024 Ganesha Ecosphere Ltd Earnings Call Transcript
Key Points
- Ganesha Ecosphere Ltd (BOM:514167) achieved a production volume of 28,447 metric tons during the quarter, utilizing production capacity at 107%.
- The company reported an EBITDA of INR31.29 crores during Q3 FY24, which is an increase of 372 basis points quarter-on-quarter.
- The Warangal unit's operational results improved due to the start of dispatches from the rPET Granules Production line, operating at 86% capacity utilization.
- The company raised INR350 crores through equity shares and INR150 crores through warrants to institutional investors and promoters, strengthening its strategic position.
- Ganesha Ecosphere Ltd (BOM:514167) expects a revenue growth of about 50% for the next financial year, driven by increased capacity utilization and new production lines.
- The Indian textile sector is facing strong headwinds due to a decline in exports and cheaper imports from neighboring countries, adversely affecting demand and prices.
- Revenue from operations during the quarter was INR245.75 crores, which is lower by 5.7% from the last quarter and 9.23% from Q3 FY23.
- PAT at INR19.55 crores is lower by INR1.38 crores compared to INR20.93 crores earned during Q3 FY23.
- The company faced a subdued performance during the first half of FY24 due to a downturn in the textile sector, impacting overall financial results.
- The profitability at INR18.98 crores is quite lower due to higher interest and depreciation expenses of subsidiaries, despite the Warangal unit's operations picking up.
Ladies and gentlemen, good day, and welcome to Ganesha Ecosphere Limited 3Q FY24 conference call hosted by Antique Stockbroking. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Manish Mahawar from Antique Stockbroking Limited. Thank you, and over to you, sir.
Thank you, Viren. On behalf of Antique Stockbroking, I would like to welcome all the participants on the 3Q FY24 earnings call of Ganesha Ecosphere. Today, we have Mr. Gopal Agarwal, CFO; Mr. Prashant Khandelwal, Senior Vice President; and Mr. Yash Sharma, Director, Ganesha EcoPet, from the management.
Now, I would like to hand over the call to Mr. Agarwal for opening remarks, post which we will open the floor for Q&A. Thank you. Over to you, Mr. Agarwal.
Thank you, Manish and Antique Stockbroking, for hosting us. Good afternoon to all the participants, and since
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