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RR Kabel FY-24 Financials: Revenue up 18%, PAT Jumps 57%

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RR Kabel [NSE: RRKABEL], an Indian manufacturer in the wires and cables and FMEG segments, has announced its financial results for quarter and financial year ended 31st March 2024.

The company got listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in September 2023.

RR Kabel’s Standalone Financial Figures: Q4 of FY-24 & FY-24

RR Kabel clocked a standalone revenue of Rs. 1,754.07 crore from operations during Q4 of FY-24. The company’s Profit After Tax (PAT) during this period stood at Rs. 78.47 crore.

Considering the entire financial year 2023-24, RR Kabel reported a standalone revenue of Rs. 6,594.57 crore and a PAT of Rs. 297.02 crore.

The company’s Earning Per Share (EPS) for Q4 of FY-24 stood at Rs. 7.01 and Rs. 26.52 for entire 2023-24 fiscal.

RR Kabel’s Consolidated Financial Numbers: Q4 of FY-24 & FY-24

YoY Comparison of RR Kabel’s Financials: Q4 FY-24 vs. Q4 FY-23 & FY-24 vs. FY-23

RR Kable’s Revenue Comparison: Q4 FY-23 vs. Q4 FY-24 vs. FY-23 vs. FY24

RR Kabel reported a consolidated revenue of Rs. 1,754.07 crore during Q4 of FY-24, marking a Year-over-Year (YoY) increase of 15.66% from Rs. 1,516.52 crore in Q4 of FY-23. Correspondingly, PAT of the company during Q4 of FY-24 increased by 20.57% to Rs. 78.72 crore from its Rs. 65.29 crore PAT for Q4 of FY-23.

RR Kable’s PAT Comparison: Q4 FY-23 vs. Q4 FY-24 vs. FY-23 vs. FY24

Considering the full financial year, In FY-24, RR Kabel recorded a top line of Rs. 6,594.57 crore, exhibiting an increase of 17.78% from Rs. 5,599.20 crore in FY-23. Further, the company’s PAT jumped by 57.02% to Rs. 298.13 crore during FY-24 from Rs. 189.87 crore during FY-23.

The company’s Q4 FY-24 EPS stood at Rs. 7.03. For the entire 2023-24 fiscal, the company’s EPS was Rs. 26.62.

RR Kable’s Revenue: Q3 FY-24 vs. Q4 FY-24
RR Kable’s Revenue: Q3 FY-24 vs. Q4 FY-24

QoQ Comparison of RR Kabel’s Financials: Q3 FY-24 vs. Q4 FY-24

RR Kabel’s revenue from operations saw an increase of 7.38% from Rs. 1,633.52 crore reported in Q3 of FY-24. Further, the company’s PAT also jumped by 10.94% from Rs. 70.96 crore during third quarter of financial year 2023-24.

RR Kabel’s Segment-Wise Revenue Comparison

RR Kable’s Segmental Revenue: Q3 FY-24 vs. Q4 FY-24 & FY23 vs.FY24

Wires & Cables: RR Kabel’s revenue from this segment increased YoY by 13.60% to Rs. 1,523.09 crore in Q4 of FY-24 from Rs. 1,340.71 crore logged during Q4 of FY-23.

During entire FY-24, Wires & Cables segment accounted for 88.25% of the company’s gross revenue.

*Gross revenue of a company represents the total of segmental revenues before subtracting inter-segmental revenue.

Over the entire FY-24, revenue from this segment surged by 17.57% to Rs. 5,829.64 crore against Rs. 4,958.53 crore in FY-23.

The company mentioned in its press release dated 28th May 2024 that growth in revenue from Wires and Cables segment was due to increase in volume from infrastructure and other ‘emerging sectors’.

Fast-Moving Electrical Goods: RR Kabel reported a revenue of Rs. 231.03 crore from its FMEG segment during Q4 of FY-24. This reflects a YoY increase of 29.45% from the company’s Rs. 178.47 crore revenue clocked for Q4 of FY-23.

For the entire FY-24, the company recorded Rs. 776.39 crore as revenue from this segment, showing an increase of 19.91% from Rs. 647.49 crore during FY-23. As per the company, this increase in revenue is “driven by expanded distribution, e-commerce growth, successful new product launches, and the brand transition from Luminous to RR Signature”.

RR Kabel’s Stock Drops 5% After Announcement of Results

One day after the announcement of results, RR Kabel’s share price decreased by 4.78% as compared to the share price on previous trading day. Further, volume of share trades stood at 4,38,000 trades on the day of announcement against 4,75,000 trades one day after the announcement.

Highest-Ever Revenue, EBITDA, and PAT for FY24”-RR Kabel Managing Director

Commenting on the Results, Mr. Shreegopal Kabra, Managing Director of RR Kabel said, – “With great pride, R R Kabel announces its highest-ever revenue, EBITDA, and PAT for FY24, driven by robust volume growth. Positioned as the 4th largest player in the wire and cable industry by value, our strong presence in housing wire and focus on infrastructure development contribute to our success”.

The company mentioned in its investor presentation for FY-24 financial results that exports contributed about 26% to the company’s revenue during financial year 2023-24.

RR Kabel announced during its FY-24 earnings call that the company is increasing its manufacturing capacity for power cables. This expansion is a part of RR Kabel’s Rs. 500 crore CapEx plan. This expansion started in FY-24 and is scheduled for completion by March 2025. As per the company,This plan includes doubling our power cable capacity, expanding copper wire production including e-beam facility and PVC component manufacturing facility.

About RR Kabel Pvt. Ltd.: Mumbai-headquartered RR Kabel is a part of RR Global and is a manufacturer of wires, cables, and Fast Moving Electrical Goods (FMEG) in India. The company has manufacturing plants at Silvassa and Waghodia.