Any current/future new fundraising through debt or equity?

No specific mention of any current or future fundraising through debt or equity in the call. Management discussed approved CAPEX for FY '24 in the range of Rs. 80-100 crores, mainly for energy saving and modernization, with no indication of additional fundraising plans. They keep evaluating options, but only crystallized plans will be announced. There was a shareholder suggestion about buyback to improve promoter holding and share price but no commitment; the Board will decide accordingly. Overall, no explicit plans for new debt or equity fundraising were communicated during the call.

Any current/future capex/capital investment/strategic investment?

FY '23 Capex cash outflow was Rs. 239 crores for ongoing activities. NTCF (Nylon Tire Cord Fabric) expansion completed in Q4 FY '23. Polyester tire cord fabric capacity to become operational in Q4 FY '24. NFY (Nylon Filament Yarn) capacity expansion planned to be completed by Q4 FY '24. New energy-saving and modernization projects planned, with total expected CAPEX of Rs. 80 to 100 crores in FY '24. No further CAPEX plans approved beyond FY '24 currently, but options are being evaluated. 10.5 MW wind plus solar hybrid power project scheduled for completion in July 2023 under Gujara

Future growth expectations in sales/revenue/volumes?

The company is hopeful of surpassing the FY '22 sales volume of around 71,000 MT, given new capacities and entry into new segments. (Page 7) Maximum capacity post NTCF commissioning is 86,000 MT, which acts as the volume ceiling. (Page 7) Demand is expected to improve in FY '24 due to better performance of tire companies, especially in replacement markets for medium and heavy vehicles, and good OEM performance. (Page 6) Margins and pricing outlook remain volatile but are expected to normalize and be better than FY '23, aided by stabilized Chinese economy and lower raw material costs. (Pages 6,

Future growth expectations in earnings/operating earnings/profits/EPS?

FY '24 volume expected to surpass FY '22's 71,000 MT, with maximum capacity at 86,000 MT post NTCF commissioning. Anticipated improvement in demand due to better OEM performance and recovery in replacement market for medium and heavy vehicle tires. Raw material prices (e.g., Caprolactam) expected to stabilize, reducing volatility compared to FY '23. Margin improvement expected as lower input costs for tire manufacturers translate into better demand and pricing stability. Expansion projects (polyester tire cord fabric and NFY capacities) to be operational by Q4 FY '24, aiding revenue gr

Century Enka LtdQ4 FY23Textiles & Apparels

Century Enka Ltd Q4 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹471.25P/E: 6.9Market Cap: ₹1.0K CrSector: Textiles & Apparels

Management growth scorecard

Revenue

Category 4

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 4

The company is hopeful of surpassing the FY '22 sales volume of around 71,000 MT, given new capacities and entry into new segments. (Page 7)
Maximum capacity post NTCF commissioning is 86,000 MT, which acts as the volume ceiling. (Page 7)
Demand is expected to improve in FY '24 due to better performance of tire companies, especially in replacement markets for medium and heavy vehicles, and good OEM performance. (Page 6)
Margins and pricing outlook remain volatile but are expected to normalize and be better than FY '23, aided by stabilized Chinese economy and lower raw material costs. (Pages 6, 9)
Polyester tire cord fabric and NFY capacity expansions are planned to be operational by Q4 FY '24, which could support sales growth. (Page 4)
Domestic procure and buying improvement in apparel industry could drive NFY segment demand. (Page 15)

Margin guidance

Category 3

FY '24 volume expected to surpass FY '22's 71,000 MT, with maximum capacity at 86,000 MT post NTCF commissioning.
Anticipated improvement in demand due to better OEM performance and recovery in replacement market for medium and heavy vehicle tires.
Raw material prices (e.g., Caprolactam) expected to stabilize, reducing volatility compared to FY '23.
Margin improvement expected as lower input costs for tire manufacturers translate into better demand and pricing stability.
Expansion projects (polyester tire cord fabric and NFY capacities) to be operational by Q4 FY '24, aiding revenue growth.
Energy-saving CAPEX of Rs. 80-100 crores planned for FY '24 to improve efficiencies and reduce costs.
Overall, margins likely to normalize and improve from decade lows seen in FY '23, but remain subject to volatility from global factors, especially Chinese market influence.

See what Century Enka Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

No specific mention of any current or future fundraising through debt or equity in the call.
Management discussed approved CAPEX for FY '24 in the range of Rs. 80-100 crores, mainly for energy saving and modernization, with no indication of additional fundraising plans.
They keep evaluating options, but only crystallized plans will be announced.
There was a shareholder suggestion about buyback to improve promoter holding and share price but no commitment; the Board will decide accordingly.
Overall, no explicit plans for new debt or equity fundraising were communicated during the call.

Order book

The transcript provided from the Century Enka Limited Q4 FY23 earnings call does not explicitly mention the current or expected order book or pending orders. However, relevant points inferred related to demand and operations are: - Demand was subdued in Q4 FY23 due to weak replacement demand and lower exports amid a global slowdown. - OEM demand for medium, heavy commercial vehicles, and two-wheeler tires showed improvement. - Management is hopeful of crossing the FY22 volume of around 71,000 MT in FY24, with maximum capacity now at 86,000 MT. - New capacities and entry into new segments are expected to support volume growth. - The company expects demand improvement in FY24 compared to FY23 due to better tire manufacturer results and lower raw material costs. - No specific data on order book or pending orders was disclosed during the call.

See what Century Enka Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

FY '23 Capex cash outflow was Rs. 239 crores for ongoing activities.
NTCF (Nylon Tire Cord Fabric) expansion completed in Q4 FY '23.
Polyester tire cord fabric capacity to become operational in Q4 FY '24.
NFY (Nylon Filament Yarn) capacity expansion planned to be completed by Q4 FY '24.
New energy-saving and modernization projects planned, with total expected CAPEX of Rs. 80 to 100 crores in FY '24.
No further CAPEX plans approved beyond FY '24 currently, but options are being evaluated.
10.5 MW wind plus solar hybrid power project scheduled for completion in July 2023 under Gujarat Group captive policy.
Partial conversion of NTCF manufacturing lines to PTCF possible with further investment.
Pune dipping facility commissioning expected in Q1 FY '24.

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