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“While we achieved a commendable 10.4% year-over-year increase in revenue, the company experienced a slight decline in Profit After Tax (PAT) and a dip in our EBITDA margin below the 7% mark. The main factor impacting our margins in Q3 FY24 was the volatility in raw material prices, which exerted pressure on our gross margins.”
Attacks by Yemen s Houthi militia on merchant ships in the Red Sea and retaliatory U.S. strikes have ratcheted up tensions in the Middle East as the Gaza war rages on, forcing companies to reroute shipments as they face delays and jacked-up rates.
As much as half of Indian wires and cables maker R R Kabel s exports are being delayed due to the Red Sea crisis but it is passing on higher freight costs to customers via price hikes, the.
Rajesh Jain discusses the Q3 numbers and margin outlook. Despite a slight dip in margins, the company achieved a volume growth of 20% in wire and cable, surpassing industry average. The FMEG segment saw a 20% YoY growth and has scalable potential for future growth. RR Kabel currently holds a 7% share in the domestic market and aims to continue growing at a rate of over 20%. The company s exports account for 27% of revenue, with major markets in Europe, UAE, Australia, New Zealand, and the USA.