Stove Kraft Ltd

- No new fundraising through debt or equity is planned. - The company is at the fag-end of its CAPEX cycle and expects CAPEX to decline. - CAPEX for FY25 is budgeted at Rs. 50 crores, with Rs. 25 crores being normal ongoing maintenance CAPEX. - CAPEX is being funded through internal accruals and deposits from franchisees for store expansion (Company owned franchisee operated stores). - The company aspires to be debt free by the end of the current year FY25. - Incremental cash flows are expected to reduce leverage and interest costs, supporting a deleveraging journey.

- The CAPEX cycle that began around FY21 and involved over Rs. 200 crores is now at its fag-end. - For FY25, there is no new CAPEX planned; only concluding CAPEX will be incurred. - The budgeted CAPEX for FY25 is around Rs. 50 crores, which includes concluding CAPEX and normal ongoing maintenance CAPEX of about Rs. 25 crores. - The overall CAPEX going forward is expected to decline compared to previous years. - Incremental investments in manufacturing facilities and people made recently will start contributing to revenue and EBITDA. - The company plans to add new stores but will shift the model from Company-owned Company-operated to Company-owned Franchise-operated, facilitated without cash outflows from the company, funded by franchisee deposits.

- Stovekraft expects to continue growing at the steady pace seen over the last 5 years, with a historical CAGR of around 19%. - Volume growth for FY25 is expected to be around the same run rate as FY24 (21.4%), with value growth depending on inflation and input costs. - The company aims to maintain about 25 to 30 new stores added per quarter, expanding primarily through the franchisee-operated model beyond the capped 171 company-owned stores. - Focus on expanding presence in Northern and Western India (Delhi NCR, Gujarat, UP) to tap larger growth opportunities beyond Southern India. - Retail expansion and increasing reach through modern trade, e-commerce, and exports will drive growth. - Continued improvement in gross margins and EBITDA margins is expected, targeting EBITDA margins of around 10-11% in FY25. - No significant new CAPEX planned; concluding current CAPEX cycle to support manufacturing strength and margin improvement.

- Stovekraft aims to continue growing at a pace similar to the last 5 years with a CAGR of around 19% in revenue. - Volume growth is expected to be steady, approximately maintaining or slightly below the strong levels seen in FY24 (around 21.4%). - Gross margins have improved significantly (37.1% in Q4 FY24) and the company aims to further improve them in FY25. - EBITDA margin target is to reach between 10% to 11% in FY25, an improvement from 8.7% in FY24. - EBITDA growth is expected to continue, supported by operational efficiencies and concluded CAPEX cycle. - Profit after tax guidance is positive, aiming to sustain profitability and improve earnings per share, backed by expanding retail presence and broadened product portfolio. - The company plans to be close to debt-free by end of FY25, potentially reducing interest costs and improving net profits.

The transcript from the Stovekraft Limited Q4 FY24 Earnings Call does not explicitly mention details about the current or expected order book or any pending orders. Key discussion points related to operations, growth, store expansions, product categories, and financial performance are covered, but specifics on order backlog or pending orders are not provided in the provided pages. If you want, I can help summarize other operational or financial details discussed.