Gabriel
India hosted a conference call on Nov 3, 2023. In the conference call, the
company was represented- by Manoj Kolhatkar, Managing Director and by Rishi
Luharuka, Chief Financial Officer.
Key takeaways of the call
In
Q2 FY24, passenger cars (PC) contributed 25% of total revenue, CVR 12%, two
wheelers/ three wheelers 61% and trading 2%.
In
terms of channel mix, OE contributed 86% of total revenue in Q2 FY24,
replacement 12% and exports 2%.
In
Aftermarket segment, passenger cars (PC) contributed 36% of total revenue
during Sept 2023 quarter, CVR 9%, two wheelers/ three wheelers 42% and trading
13%.
In
2Ws & 3Ws, growth was primarily driven by efforts in terms of improving
market share with key customers, and on account of strong acceptance of end
products in the market.
Company
recorded 84% YoY growth in EV-2W segment and 75% YoY growth in EV-3W segment in
H1 FY24.
Company
reported its highest EV Sales in Uttar Pradesh in the month of Sept 2023.
As
H1 FY24, company’s share of business in 2W and 3W sales was 81% and 8%
respectively. Share of Utility Vehicle sales in company’s Passenger Vehicle
business stands at 64%.
Management
indicated encouraging demand across segments. Going forward, company
intends to develop more products for the core segment.
Company
has plans to focus on Latin American & African markets for Quantum growth
in Export''s sales. Company is on track to expand its customer base in in
overseas markets to improve export revenue.
Company
has started exploring business opportunities in overseas CV segment.
In
terms of export sales, company derives 32% of export revenue from Europe,
Africa 8%, USA 7%, South America 26%, North America 1%, Asia 21% and Australia
5%.
Aftermarket
contributed 37% YTD to export sales and OEM 63%.
In
Aftermarket segment, Shox & Struts contributed 88% to total sales in Q2
FY24 and Allied 12%.
Capex
incurred during Q2 FY24 was Rs 21.9 crore. Similarly, Capex incurred during H1 FY24
was Rs 35.5 crore.
Company
Launched 207 SKU’s In H1 FY24.
In
Q2 FY24, company generated cash flow from operations in tune of Rs 23.1 crore.
Board
approved Interim Dividend of Rs 1.50 per share having face value of Re 1 each.
The record date for the payment of interim dividend is Friday, November 17,
2023.
|