India · Delayed Price · Currency is INR Gokaldas Exports Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2024 saw flat revenue at INR 998 crore, with India growing 8% YOY and Africa impacted by AGOA expiry and supply chain issues. EBITDA fell 18% YOY due to U.S. tariff sharing, but operational efficiencies and European diversification are supporting margins. Africa margins are set to rebound, and long-term guidance targets 12-13% EBITDA in India and 10-11% in Africa.
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Q2 FY26 saw 7% revenue growth and flat EBITDA despite tariff headwinds, with India operations up 14% and Africa down 24% YoY. Strong order books and new capacity investments support H2 growth, but persistent U.S. tariffs may pressure margins until resolved.
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PAT grew 53% year-over-year with EBITDA margin rising to 12.1%, driven by productivity gains and cost management, but offset by tariff-related customer discounts. Capacity expansions and vertical integration are underway, while tariff uncertainties and global volatility remain key risks.
Fiscal Year 2025
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FY 2025 saw 63% revenue growth driven by acquisitions and market share gains, with EBITDA up 49%. Margin pressure is expected in H1 FY 2026 due to U.S. tariff uncertainty, but long-term prospects remain strong, supported by capacity expansion and trade agreements.
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Q3 FY25 saw record income and strong EBITDA/PAT growth, driven by acquisitions and robust demand. Capacity expansions are underway, with guidance for 10-15% annual growth and margin improvement. Integration of acquired entities and investments in BRFL/BTPL are progressing.
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Revenue grew 85% year-over-year (28% excluding acquisitions), with strong export and standalone performance. Margins were impacted by seasonal and currency factors but are expected to improve as integration and capacity expansions progress. Robust order book and industry tailwinds support a positive outlook.
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Q1 FY25 revenue surged 80% year-over-year to INR 940 crore, driven by acquisitions and organic growth, though margins were impacted by one-time costs. Integration of new entities is ahead of schedule, with full capacity utilization expected and margins set to recover in H2 FY25.