Future Roadmap - Expand, Explore & Excel
Management Commentary
SAHYADRI
Indian. Innovative. Iconic.
Commenting on the results and performance for Q3 & 9MFY23, Mr. Satyen Patel, Managing
Director of Sahyadri Industries Limited said:
"The company registered a top-line growth of 11.2% to Rs 123.7 crores in Q3FY23 on a YoY basis.
There is a slowdown in demand for roofing business, particularly in rural India.
For 9MFY23, our capacity utilisation was 66%, with flat sheet products having a higher capacity
utilisation than roofing products. However, roofing product utilisation was impacted due to
sluggish demand in the rural market. Our endeavor is to achieve higher utilisation levels in Q4 of
this financial year. We might foresee sales trajectory gaining momentum going forward.
The raw material costs are still at elevated levels; however, we have been able to pass on the rise
in cost partially to the customer. EBITDA grew marginally by 5.8% yoy to Rs 16.2 cr in Q3FY23,
with margins remaining at 13.1%. The stabilization of operations at the Perundurai plant resulted
in higher expenditure that has also impacted bottom-line. The ramp-up in the production level at
the Perundurai plant will enable us to penetrate deeper into Southern India and capture market
share.
Also, the Company has declared an interim dividend of Rs. 2.5 per equity share for FY23."
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