Elin Electronics Ltd

- CAPEX of Rs. 52 crore in FY23, primarily for plant and machinery across facilities: - Ghaziabad plant: Rs. 150 million spent on SMT machines (LED lighting), motors capacity expansion, and component business machinery. - Baddi plant: Rs. 50 million mainly for trimmers, heated hairbrush, and sterilizers. - Goa: Investments in TPW factory. - Electrical installations include Rs. 34 million for a 33KVA line at Ghaziabad, aimed at cost savings and reducing wastage. - Ongoing CAPEX of Rs. 37.5 crore planned over next 18 months as per IPO, to be fully utilized. - Additional 45,000 sq. ft. space expansion at Ghaziabad in progress, expected completion by end FY24, with revenues starting FY25. - Commitment of Rs. 10 crore investment under PLI scheme for lighting. - New product launches planned in Q2 and Q3 expected to drive future revenue growth. - Front-loaded CAPEX for heated hairbrush and sterilizers with revenue expected from Q2/Q3 FY24.

- Expect revenue growth in FY24 in the range of low to mid-teens (Page 6). - Anticipate strong growth in FY24 driven by new launches in several small appliance categories, including chimneys, OTGs, and OFR heaters with a combined market size of Rs. 2,000 crores (Page 5). - New product launches planned for Q2 and Q3 FY24, with revenue impact expected after a ramp-up period of 1-2 quarters (Page 14). - Capacity expansion underway, including an additional assembly line for mixer grinders in Ghaziabad, expected to be completed by September 2023, enhancing cost efficiency and supporting growth (Page 5). - Demand situation currently weak but expected to improve with a full recovery anticipated by H2 FY24 (Pages 6 and 17). - Management confident they will be strong beneficiaries of demand revival due to ongoing investments and initiatives (Page 17).

- For FY24, Elin Electronics expects revenue growth in the range of low to mid-teens with an EBITDA margin of 7 to 7.5%. - Demand is currently tepid but a full recovery is anticipated by the second half (H2) of FY24. - The company is making strategic investments including SAP implementation and capacity expansion to drive cost savings and operational efficiencies. - The management is confident about achieving growth targets sooner rather than later but acknowledges near-term consumption weakness which limits long-term specific guidance. - New product launches, especially in small appliances like trimmers, heated hairbrushes, and sterilizers, are expected to contribute to revenue growth in FY24. - EBITDA impacted in recent quarters due to one-time expenses related to warranty provisions, inventory write-offs, SAP rollout, and IPO-related costs. - Finance costs are expected to drop substantially in FY24 as gross debt is planned to be repaid by August 2023.

- Elin Electronics Limited does not maintain a traditional order book. - Customers provide an Annual Operating Plan (AOP) which is nonbinding and indicative for resource planning. - The company typically has visibility for 2-3 months to a quarter in terms of firm orders. - The AOP is used for internal planning rather than as confirmed order backlog. - Given the nonbinding nature of the AOP, it is not considered an order book in the conventional sense.

- No mention of any current or planned new fundraising through debt or equity in the provided transcript. - The company has repaid a portion of the debt with IPO proceeds and plans to fully repay gross debt of Rs. 778 million by July or August 2023. - Finance costs are expected to drop substantially in FY24 due to debt repayment. - CAPEX is planned and underway, but it is being funded as per the previously outlined schedules, with no indication of additional fundraising. - No discussions or indications about raising new equity or debt were made during the call.