Q1 FY24 Results:
- Sales & PAT continued to go downwards. MDF sales down by 13% (340.17 Cr - 88% sales)
- Blended capacity utilization at 74% on a capacity of 6,60,000 cubic meters.
- Volume degrowth - 6000 cubic meters due to planned maintenance shutdown of MDF plant in April (happened once in 14 years so not a repetitive problem).
Guidance for MDF:
- Management reiterated - Worst is over.
- 23% to 25% EBITDA margin, Volume growth 12% to 15% expected by year-end (Q2 could be flat/poor but then Q3/Q4 should be bright)
Disc: Invested