India · Delayed Price · Currency is INR Gokaldas Exports Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw resilient 4% income growth despite severe tariff and geopolitical disruptions, with India and Africa operations rebounding and margin outlook improving for FY 2027. CapEx and new customer additions support future growth, while tariff and cost risks remain.
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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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Q1 FY26 saw 53% YoY PAT growth and margin expansion, driven by productivity and cost control, despite tariff headwinds. Capacity additions in India and Africa are on track, with BTPL integration progressing and geographic diversification underway to mitigate 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, driven by strong export growth and contributions from acquired entities. EBITDA margin was impacted by seasonal and currency factors but is expected to improve, with management guiding for 15% annual revenue growth and steady-state EBITDA margins above 10%.
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Q1 FY25 revenue surged 80% year-over-year to INR 940 crores, driven by acquisitions and organic growth, despite one-time costs from production disruptions and air freight. Margins are expected to recover in H2 FY25, with full capacity utilization and strategic investments supporting future growth.