Shakti Pumps (India) Limited (NSE:SHAKTIPUMP) Q4 FY23 Earnings Concall dated May. 08, 2023.
Corporate Participants:
Rohit Anand — Investor Relations
Dinesh Patidar — Managing Director
Dinesh Patel — Chief Financial Officer
Ramesh Patidar — Executive Director
Analysts:
Kaushal Vora — Latin Manharlal Securities — Analyst
Vishal — Swan — Analyst
Anik Ankit — JHP Securities — Analyst
Hardik Vyas — Economic Times — Analyst
Nitin Gandhi — KIFS Trade Capital Private Limited — Analyst
Forum Makim — Equitree Capital — Analyst
Dipesh Sancheti — Manya Finance — Analyst
Rikesh Parikh — Rockstud Capital LLP — Analyst
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to the Shakti Pumps India Limited Q4 and FY ’23 Earnings Conference Call. [Operator Instructions]
I now hand the conference over to Mr. Rohit Anand from Ernst & Young, LLP. Thank you and over to you Mr Anand.
Rohit Anand — Investor Relations
Thank you, and good afternoon, everyone. Before we proceed, let me remind you that our discussion may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future results, performance or achievements to differ significantly from what is expressed or implied by such forward-looking statements.
To take us through the financial results and development and to answer your question today, we have the senior management of Shakti Pumps India Limited represented by Mr. Dinesh Patidar, Managing Director; Mr. Ramesh Patidar, Executive Director – Exports; Mr. Dinesh Patel, Chief Financial Officer; and Mr Ravi Patidar, [Technical Issues] by Mr. Mr. Dinesh Patidar, followed by a Q&A session.
I will now hand over the call to Mr. Patidar. Over to you, sir.
Dinesh Patidar — Managing Director
Thank you, Rohit. [Foreign Speech]
Over to Dinesh.
Dinesh Patel — Chief Financial Officer
Thank you, sir. Revenue from operation in Q4 FY ’23 stood at INR182.7 crore as against INR384.6 crore in the corresponding quarter. Revenue from the export business stood at INR68.9 crores as compared to INR51.5 crores. Registering a strong growth of 34% Y-o-Y EBITDA for Q4 FY ’23 was at INR10.9 crore and EBITDA margin was at 6%. The Company reported a PAT of INR2.2 crore during Q4 FY ’23. During the full-year FY ’23, we recorded a revenue of INR967.7 crore as against INR1,178.5 crores in FY22. The export business continued its growth journey and felt 27% Y-o-Y to INR234.8 crores. [Technical Issues] for FY ’23 was at INR66.6 crores. EBITDA margin at 6.9% and PAT was at INR24.1 crores.
Now I request the moderator to open the floor for question and answer.
Operator
Sir, should we begin the question-and-answer session?
Dinesh Patel — Chief Financial Officer
Yes.
Questions and Answers:
Operator
Thank you. [Operator Instructions] Our first question is from the line of Mr. Kaushal Vora from Latin Manharlal Securities. Please go ahead.
Kaushal Vora — Latin Manharlal Securities — Analyst
Sir, wanted to know more about the Kusum 3.0. As you said, size is 8,57,000 pump. So what is the timeline for that?
Dinesh Patidar — Managing Director
[Foreign Speech]
Kaushal Vora — Latin Manharlal Securities — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Kaushal Vora — Latin Manharlal Securities — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
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Dinesh Patel — Chief Financial Officer
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Kaushal Vora — Latin Manharlal Securities — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
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Kaushal Vora — Latin Manharlal Securities — Analyst
So we can expect by July onwards, we can see the Kusum 3.0 starting?
Dinesh Patidar — Managing Director
Sure.
Kaushal Vora — Latin Manharlal Securities — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Kaushal Vora — Latin Manharlal Securities — Analyst
Okay.
Ramesh Patidar — Executive Director
[Foreign Speech]
Kaushal Vora — Latin Manharlal Securities — Analyst
[Foreign Speech]
Ramesh Patidar — Executive Director
[Foreign Speech]
Kaushal Vora — Latin Manharlal Securities — Analyst
Okay. That’s it from my side. Thank you and all the best.
Ramesh Patidar — Executive Director
Thank you.
Dinesh Patidar — Managing Director
Thank you, Vora ji. Thank you.
Operator
Thank you. Our next question is from the line of Mr. Vishal from Swan. Please go ahead.
Vishal — Swan — Analyst
Thank you for taking my question, sir. Sir, just wanted to know the break-up customer-wise, which you’ll give every year.
Dinesh Patidar — Managing Director
[Foreign Speech]
Vishal — Swan — Analyst
Sir, basically customer segment-wise breakup for the year, as well as for the quarter, that will be helpful, sir.
Dinesh Patidar — Managing Director
[Technical Issues]
Vishal — Swan — Analyst
[Foreign Speech] Sir, how do you see now going-forward [Foreign Speech] you will be participating in the tender. So, how fast you expect this ordering process will start and when will this execution start. So can we easily assume [Foreign Speech] majority of the ordering will be in the second-half or second quarter [Foreign Speech] roadmap?
Dinesh Patidar — Managing Director
[Foreign Speech]
Vishal — Swan — Analyst
Okay. Okay. [Foreign Speech] Is this understanding right?
Dinesh Patidar — Managing Director
Right, right, right, right, right. [Foreign Speech]
Vishal — Swan — Analyst
[Foreign Speech] you’re saying, sir, Q2 FY ’24?
Dinesh Patidar — Managing Director
Yeah.
Vishal — Swan — Analyst
Okay. So in terms of [Foreign Speech] in Q1, our performance will be slightly better than Q4, but it will not be significantly better, because [Foreign Speech]?
Dinesh Patidar — Managing Director
Perfectly right. [Foreign Speech]
Vishal — Swan — Analyst
Okay. Fantastic, sir. Thank you so much and all the best, sir.
Dinesh Patidar — Managing Director
Thank you, Vishal. Thank you.
Operator
Thank you. Our next question is from the line of Mr. Anik Ankit from JHP Securities. Please go ahead.
Anik Ankit — JHP Securities — Analyst
Thank you for taking a quick question. So actually I wanted to ask in Kusum scheme II, the Shakti Pumps contribution in total execution is getting reduced quarter-on-quarter. So what’s the reason behind that, because in quarter one, it was 45%, currently in quarter four it is at 24%. Any reason for that?
Dinesh Patidar — Managing Director
[Foreign Speech]
Anik Ankit — JHP Securities — Analyst
Okay. Okay. [Foreign Speech]
Ramesh Patidar — Executive Director
[Foreign Speech]
Anik Ankit — JHP Securities — Analyst
Okay. Quarter four —
Ramesh Patidar — Executive Director
[Foreign Speech]
Anik Ankit — JHP Securities — Analyst
[Foreign Speech]
Ramesh Patidar — Executive Director
[Foreign Speech]
Anik Ankit — JHP Securities — Analyst
Okay. Okay. Thank you. Thank you so much.
Dinesh Patidar — Managing Director
Thank you, Ankit.
Operator
Thank you. Our next question is from the line of Vijay Srivastava from VSF Associates. Please go ahead. Mr. Srivastava, your line has been unmuted. You can go ahead with your question.
As there is no response from the participant’s line, may I request the management that we’ll move to the next question. Our next question is from the line of Hardik Vyas from Economic Times. Please go ahead.
Hardik Vyas — Economic Times — Analyst
Good afternoon, sir. [Foreign Speech] So those rates are going to be the same for all the states or [Foreign Speech]?
Dinesh Patidar — Managing Director
[Foreign Speech]
Hardik Vyas — Economic Times — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
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Hardik Vyas — Economic Times — Analyst
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Dinesh Patidar — Managing Director
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Hardik Vyas — Economic Times — Analyst
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Dinesh Patidar — Managing Director
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Hardik Vyas — Economic Times — Analyst
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Dinesh Patidar — Managing Director
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Hardik Vyas — Economic Times — Analyst
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Dinesh Patidar — Managing Director
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Hardik Vyas — Economic Times — Analyst
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Dinesh Patidar — Managing Director
[Foreign Speech]
Ramesh Patidar — Executive Director
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Hardik Vyas — Economic Times — Analyst
[Foreign Speech]
Ramesh Patidar — Executive Director
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Hardik Vyas — Economic Times — Analyst
Okay. Okay. Sir, last question [Foreign Speech]
Ramesh Patidar — Executive Director
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Hardik Vyas — Economic Times — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Hardik Vyas — Economic Times — Analyst
Okay. Thank you, sir. All the best.
Dinesh Patidar — Managing Director
Thank, Hardik. Thank you.
Operator
Thank you. Our next question is from the line of Mr. Nitin from KIFS Trade Capital Private Limited. Please go ahead.
Nitin Gandhi — KIFS Trade Capital Private Limited — Analyst
Yeah. Thanks for taking my question. With reference to the current two-year order of 8.6 like pump, what is the market share strategy which we are planning, because some of the states you might be aggressive and some states you might [Technical Issues] So if you can share some thoughts here getting major market share in that.
Dinesh Patidar — Managing Director
[Foreign Speech]
Nitin Gandhi — KIFS Trade Capital Private Limited — Analyst
Thank you. [Foreign Speech] 7%. Can we expect something on mid-double-digit.
Dinesh Patidar — Managing Director
Yes, Nitin. [Foreign Speech]
Nitin Gandhi — KIFS Trade Capital Private Limited — Analyst
All the best, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
Thank you.
Nitin Gandhi — KIFS Trade Capital Private Limited — Analyst
All the best.
Dinesh Patidar — Managing Director
Thank you.
Nitin Gandhi — KIFS Trade Capital Private Limited — Analyst
Thank you. Our next question is from the line of Forum Makim from Equitree Capital. Please go ahead.
Forum Makim — Equitree Capital — Analyst
Hello, sir. Congratulations on being qualified for 21 states. Sir, [Foreign Speech]
Dinesh Patidar — Managing Director
Okay. [Foreign Speech]
Forum Makim — Equitree Capital — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
Yes. [Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Right, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Okay, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Okay, sir. [Foreign Speech] for the next two years?
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Right, right, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Okay, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Right, sir. Sir, just two more questions, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Okay, sir. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Okay, sir. Okay. Thank you so much, sir.
Dinesh Patidar — Managing Director
Thank you.
Operator
Thank you. Our next question is from the line of Dipesh Sancheti from Manya Finance. Please go ahead.
Dipesh Sancheti — Manya Finance — Analyst
Yes, sir. Sir, first thing, though, what is our capacity and [Foreign Speech] in India, as well as Uganda?
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech] our company generally does — has a market share of 30% to 35%. Can we do any thousand crores in the next few years?
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
Because, this entire order [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Forum Makim — Equitree Capital — Analyst
Sir, just to understand, sir, [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
Okay, sir. Okay.
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
Okay. Okay. And what is the current order book, sir?
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
Okay. [Foreign Speech] after the ramp-up?
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech] will we maintain the same debt or we will ramp-up, because we will need more capacity utilization?
Dinesh Patel — Chief Financial Officer
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech] I completely understand that the loan is not big enough, but [Foreign Speech] because of higher capacity utilization.
Dinesh Patel — Chief Financial Officer
[Foreign Speech]
Dinesh Patidar — Managing Director
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Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech] how does the payment happen?
Dinesh Patidar — Managing Director
[Foreign Speech]
Dipesh Sancheti — Manya Finance — Analyst
Great. Great, sir. Thank you so much, sir, and all the very best. I hope you will definitely achieve your double-digit margins and more so I think INR8,000 crores [Foreign Speech]
Dinesh Patidar — Managing Director
Yes, yes, definitely.
Dipesh Sancheti — Manya Finance — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
Thank you. Thank you.
Operator
Thank you. Our next question is from the line of Rikesh Parikh from Rockstud Capital LLP. Please go ahead.
Rikesh Parikh — Rockstud Capital LLP — Analyst
Thanks for the opportunity. Sir, [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Rikesh Parikh — Rockstud Capital LLP — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
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Rikesh Parikh — Rockstud Capital LLP — Analyst
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Dinesh Patidar — Managing Director
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Rikesh Parikh — Rockstud Capital LLP — Analyst
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Dinesh Patidar — Managing Director
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Rikesh Parikh — Rockstud Capital LLP — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Rikesh Parikh — Rockstud Capital LLP — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Rikesh Parikh — Rockstud Capital LLP — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
Perfectly right. [Foreign Speech]
Rikesh Parikh — Rockstud Capital LLP — Analyst
[Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Rikesh Parikh — Rockstud Capital LLP — Analyst
Okay. Thanks. That’s it from my side.
Dinesh Patidar — Managing Director
Thank you. Thank you.
Operator
Thank you. Our next question is from the line of Balasubramanian from Arihant Capital Markets Limited. Please go ahead.
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Hello?
Dinesh Patidar — Managing Director
Yes.
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Yeah. Sir, just wanted a confirmation on the payment cycle that you mentioned 90% of the payment is received in 30 days or 90 days [Foreign Speech]
Dinesh Patidar — Managing Director
Sure. Sure. [Foreign Speech] 90% within 30 days and 10% within 90 days.
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Okay. [Foreign Speech]
Dinesh Patidar — Managing Director
[Foreign Speech]
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Okay. Okay. Understood.
Dinesh Patidar — Managing Director
[Foreign Speech]
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Okay. Understood. Understood.
Dinesh Patidar — Managing Director
[Foreign Speech]
Balasubramanian A — Arihant Capital Markets Limited — Analyst
Understood. Understood. Thank you so much for the clarification, sir.
Dinesh Patidar — Managing Director
Thank you. Thank you. Thank you.
Operator
Thank you. Due to time constraints, that was the last question of our question-and-answer session. I would now like to hand the conference over to Mr. Dinesh Patidar for closing comments.
Dinesh Patidar — Managing Director
Thank you. [Foreign Speech]
Operator
[Operator Closing Remarks]