Any current/future new fundraising through debt or equity?

Kaya Limited is reconsidering its previous plan for a rights issue; the rights issue will be done at a later stage as per management's current stance (Page 3). The company currently has director loans of approximately Rs.93.72 Crores and a Standard Chartered loan of around Rs.14 Crores, with cash balances of Rs.42 Crores in India and Rs.13 Crores in the Middle East (Page 3). No further drawdown of loans from directors has been made lately; the company is evaluating funding needs based on business performance (Page 3). Management is not providing specific guidance on timing or amounts for right

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

Kaya Limited is planning capital investments primarily focused on opening new clinics, with one clinic already opened post-COVID (Lucknow) and more to be opened before the end of the financial year. There is a focus on refurbishing existing clinics to improve customer experience, with 6 out of 23 Middle East clinics refurbished and plans for 4-5 more refurbishments in the next financial year. The company aims to explore Tier-2 cities for expansion, targeting an increase in presence from 20 cities to 40-45 cities. Investment is planned in innovation and product diversification to support growth

Future growth expectations in sales/revenue/volumes?

Kaya Limited expects significant growth in collections with a 28% increase compared to last year, driven by higher consumption sessions in clinics (~40,000 sessions currently vs. ~38,000 pre-COVID). The company is focusing on expanding the number of clinics, especially in Tier-2 cities in India, targeting adding 20-25 new cities beyond the current 20 cities. New clinics have started opening post-COVID (first in Lucknow), with more clinics planned before fiscal year-end. Growth in India is anticipated to be faster than in the Middle East, supported by clinic refurbishments and new openings. The

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

Kaya Limited expects significant growth in collections compared to last year, with a 28% increase in collections reported. Clinic sessions have increased to about 40,000 live sessions, slightly above pre-COVID levels. Employee costs have normalized after COVID, reflecting full manning and competitive salaries necessary for growth. Plans to open new clinics in India, especially in Tier-2 cities and Southeast cities, aiming to expand reach by 20-25 new cities. Market growth in India is currently faster than Middle East; refurbishments and relocations are planned in Middle East clinics to boost p

Kaya LtdQ2 FY23Leisure Services

Kaya Ltd Q2 FY23 Earnings Call Analysis

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

Price: ₹312.4Market Cap: ₹474 CrSector: Leisure Services

Management growth scorecard

Revenue

Category 3

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 3

Kaya Limited expects significant growth in collections with a 28% increase compared to last year, driven by higher consumption sessions in clinics (~40,000 sessions currently vs. ~38,000 pre-COVID).
The company is focusing on expanding the number of clinics, especially in Tier-2 cities in India, targeting adding 20-25 new cities beyond the current 20 cities.
New clinics have started opening post-COVID (first in Lucknow), with more clinics planned before fiscal year-end.
Growth in India is anticipated to be faster than in the Middle East, supported by clinic refurbishments and new openings.
The product business prices are currently stable but may see marginal hikes due to rising input costs.
E-commerce sales face competitive pressure but Kaya is focusing on profitable growth rather than volume-driven markdowns.
The company aims to enhance omnichannel capabilities to better serve local customer needs.
Overall, Kaya plans growth via like-for-like sales increase, new clinic additions, and refurbishments, with financial restructuring supporting this path.

Margin guidance

Category 3

Kaya Limited expects significant growth in collections compared to last year, with a 28% increase in collections reported.
Clinic sessions have increased to about 40,000 live sessions, slightly above pre-COVID levels.
Employee costs have normalized after COVID, reflecting full manning and competitive salaries necessary for growth.
Plans to open new clinics in India, especially in Tier-2 cities and Southeast cities, aiming to expand reach by 20-25 new cities.
Market growth in India is currently faster than Middle East; refurbishments and relocations are planned in Middle East clinics to boost performance.
Financial restructuring, including a planned rights issue, is expected to reduce debt and improve profitability once completed.
Growth strategy includes improving like-for-like sales, clinic expansions, and product innovation, targeting higher profitability as new clinics scale.
Focus remains on profitable growth rather than aggressive markdowns, especially on e-commerce channels.
The company foresees better cash flow and business environment improving in H2 FY2023.

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

Fundraise plans

Kaya Limited is reconsidering its previous plan for a rights issue; the rights issue will be done at a later stage as per management's current stance (Page 3).
The company currently has director loans of approximately Rs.93.72 Crores and a Standard Chartered loan of around Rs.14 Crores, with cash balances of Rs.42 Crores in India and Rs.13 Crores in the Middle East (Page 3).
No further drawdown of loans from directors has been made lately; the company is evaluating funding needs based on business performance (Page 3).
Management is not providing specific guidance on timing or amounts for rights issues or new fundraising but will keep shareholders updated once decisions are taken (Page 7).
Financial restructuring, including the rights issue, is planned as part of the medium to long-term growth strategy but no exact timeline is given (Page 7).

Order book

The transcript from the Kaya Limited Q2 FY2023 Results Conference Call does not provide specific details about the current or expected orderbook or pending orders. The discussion mainly revolves around: - Clinic expansions, including new clinics in India and the Middle East planned for future quarters. - Growth strategies focusing on increasing like-for-like sales and launching new clinics mainly in Tier-2 cities. - Refurbishments and relocations of existing clinics to improve performance. - No explicit mention of any orderbook or pending orders figures. Therefore, there is no direct information on orderbook or pending orders available in this document.

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

Capex plans

Yes

Kaya Limited is planning capital investments primarily focused on opening new clinics, with one clinic already opened post-COVID (Lucknow) and more to be opened before the end of the financial year.
There is a focus on refurbishing existing clinics to improve customer experience, with 6 out of 23 Middle East clinics refurbished and plans for 4-5 more refurbishments in the next financial year.
The company aims to explore Tier-2 cities for expansion, targeting an increase in presence from 20 cities to 40-45 cities.
Investment is planned in innovation and product diversification to support growth.
Funding for growth and refurbishments will depend on financial restructuring and rights issue plans, which are under consideration by the Board.
No specific timelines or amounts for capex were disclosed; decisions will be communicated as plans develop.

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Kaya Ltd Q2 FY23 Earnings Call Analysis

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Capex plans

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What Kaya Ltd's management said in earlier quarters

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