Shakti Pumps (India) Limited (531431) Earnings Call Transcript
May 8, 2023
Earnings Call Speaker Segments
Ladies and gentlemen, good day, and welcome to the Shakti Pumps India Limited Q4 and FY '23 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded. I now hand the conference over to Mr. Rohit Anand from Ernst & Young LLP. Thank you, and over to you, Mr. Anand.
Thank you, and good afternoon, everyone. Before we proceed, let me remind you that the discussion may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future results, performance or achievements to differ significantly from what is expressed or implied by such forward-looking statements. To take us forward through the financial results and development and to answer your question today, we have the senior management of Shakti Pumps India Limited, represented by Mr. Dinesh Patidar, Managing Director; Mr. Ramesh Patidar, Executive Director Exports; Mr. Dinesh Patel, Chief Financial Officer; and Mr. Ravi Patidar [Audio Gap] by Mr. Dinesh Patidar, followed by the Q&A session. I will now hand over the call to Mr. Patidar. Over to you, sir.
Thank you, Rohit. [Foreign Language] Over to Dinesh.
Thank you, sir. Revenue from operations in Q4 FY '23 stood at INR 182.7 crores as against INR 348.6 crores in the corresponding quarter. Revenue from the export business stood at INR 68.9 crore as compared to INR 51.5 crore, registering a strong growth of 34% Y-o-Y. EBITDA for Q4 FY '23 was at INR 10.9 crore and EBITDA margin was at 6%. The company reported a PAT of INR 2.2 crores during Q4 FY '23. During the full year FY '23, we recorded a revenue of INR 967.7 crore as against INR 1,178.5 crores in FY '22. The export business continued its growth journey and surged 27% Y-o-Y to INR 234.8 crore. EBITDA for FY '23 while at INR 66.6 crore, EBITDA margin 86.9% and PAT was INR 24.1 crores. Now I request the moderator to open the floor for question-answer.
[Operator Instructions] Our first question is from the line of [ Mr. Kaushal Vora ] from Latin Manharlal Securities.
Sir, I wanted to know more about the KUSUM 3.0. As you said, size is 857,000 pump. So what is the time line for that?
2 years. [Foreign Language].
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So we can expect by July onwards we can see the KUSUM 3.0 starting?
Sure.
Okay. [Foreign Language].
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[Foreign Language] Good afternoon. [Foreign Language].
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Our next question is from the line of [ Mr. Vishal ] from Svan.
Sir, I just wanted to know the breakup customer-wise which you give every year.
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[Foreign Language] Basically, customer segment-wise breakup for the year as well as for the quarter. That will be helpful, sir. [Audio Gap] [Foreign Language] Sir, how do you see now going forward [Foreign Language] you will be participating in the tender so how fast you expect this ordering process will start and when will this execution start? So can we easily assume [Foreign Language] majority of the ordering will be in the second half or second quarter [Foreign Language] road map.
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Okay, okay. Or sir, in terms of [Foreign Language] Is this understanding right?
Right, right, right.
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[Foreign Language] you are saying, sir, Q2 FY '24?
Right, right. Yes.
Okay. Okay. Okay. So in terms of [Foreign Language] in Q1, our performance will be slightly better than Q4, but it will not be significantly better because [Foreign Language].
Perfectly right. Perfectly. [Foreign Language].
Our next question is from the line of [ Mr. Ankit ] from JHP Securities.
So actually, I wanted to ask in KUSUM Scheme 2, the Shakti Pumps contribution in total execution is getting reduced quarter-on-quarter. So what's the reason behind that? Because in quarter 1, it was 45%. Currently, in quarter 4, it is at 24%. Any reason for that?
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Our next question is from the line of Hardik Vyas from Economic Times.
[Foreign Language] So those rates are going to be the same for all the states or both [Foreign Language].
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[Foreign Language]. We can benefit in out models accordingly [Foreign Language].
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In pricing, pricing. [Foreign Language].
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[Foreign Language]. 30%.
30% of the export sale.
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Our next question is from the line of [ Mr. Nitin ] from KIFS Trade Capital Private Limited.
With reference to the current 2-year order of 8.6 like pump, what's the market share strategy which you are planning? Because some of the states may be aggressive, in some states, you might decide based on [Audio Gap] So if you can share some thoughts you're getting major market share in that.
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[Foreign Language]. Can we expect something on mid double digit?
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Our next question is from the line of Forum Makim from Equitree Capital.
Congratulations on being qualified for 21 states. [Foreign Language].
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Right. [Foreign Language].
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Right, right. [Foreign Language].
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Right, sir. Just 2 more questions. [Foreign Language].
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Our next question is from the line of Dipesh Sancheti from Manya Finance.
Sir, first thing, though, what is our capacity? [Foreign Language] in India as well as Uganda?
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[Foreign Language] and our company generally does, had a market share of 30% to 35%. So can we do INR 8,000 crores in the next 2 years?
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Because this entire order [Foreign Language].
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Sir, just to understand, sir, [Foreign Language].
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And what is the current order book, sir [Foreign Language].
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[Foreign Language] will we maintain the same debt [Foreign Language] we will ramp up because we will need more capacity utilization?
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[Foreign Language] I completely understand that the loan is not big enough, but [Foreign Language].
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[Foreign Language]. How does the payment happen?
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Yes, yes, definitely sir.
Our next question is from the line of Rikesh Parikh from Rockstud Capital LLP.
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[Foreign Language]. Secondly, [Foreign Language] other than us [Foreign Language].
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Nothing as of now, okay. Sir, third [Foreign Language].
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Okay. [Foreign Language].
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Yes. [Foreign Language].
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Our next question is from the line of Balasubramanian from Arihant Capital Markets Limited.
Sir, just wanted confirmation on the payment cycle that you mentioned. 90% of the payment is received in 30 days or 90 days [Foreign Language]?
Sure, sure. [Foreign Language] 90% within 30 days [Foreign Language] 10% within 90 days.
Okay. And advance [Foreign Language] from the farmer and the government?
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Due to time constrains, that was the last question of our question-and-answer session. I would now like to hand the conference over to Mr. Dinesh Patidar for closing comments.
Thank you. [Foreign Language] Thank you.
Thank you. On behalf of Shakti Pumps India Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.
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