Avro India (AVROIND) — concall transcript

📢 Key Event
Avro India reported Q1 FY24 results, emphasizing backward integration, recycling expansion, and pan-India growth ambitions.

🔄 What Changed
EBITDA margin held at 10% with PAT of ₹1.01 crores; recycling capacity target raised to 600 tons/day; new markets in Karnataka, Bihar, and Assam showed strong demand; capex of ₹10 crores announced for capacity scaling to 15,000 MT annually.

🔮 What's Next
Target to double turnover by FY26; increase in-house recycled material usage to 70%; expand capacity to 15,000 MT annually; evaluate funding instruments based on market conditions; potential ATL marketing expansion as scale improves.

💡 Investor Takeaway
Avro India is building scale through recycling integration and pan-India expansion, aiming for sustainable margin growth and doubled turnover by FY26 — a long-term play on India’s plastic packaging demand.

Avro India reported Q1 FY24 revenue of [amount context mismatch] crores with EBITDA of ₹2.30 crores (10% margin) and PAT of ₹1.01 crores, driven by cost control and strategic backward integration. Management highlighted scaling plastic recycling to 600 tons/day, expanding pan-India reach across 18 states, and launching new molds to capture demand in emerging markets like Karnataka, Bihar, and Assam. Online sales reached 36,000+ orders across 6,500+ pin codes. Capex of ~₹10 crores targets machinery and molds to boost capacity to 15,000 MT annually, aiming to double turnover by FY26. Virgin polymer costs remain stable at ₹90-100/ton, with post-consumer plastic price swings marginal. Marketing remains BTL-focused, with potential ATL expansion as scale improves.

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About Avro India Ltd (AVROIND)

Chemicals · Plastic products · Listed on BSE

Market Cap: ₹121.83 Cr P/E: 3.4 ROE: 5.2% ROCE: 7.0%

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🔥 Also filed on 30 June 2023

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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