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Anand Rathi Report
With price hikes boosting revenue (12.5% YoY) and the inflationary situation squeezing Ebitda (16.5% YoY), HIL Ltd.'s Q4 was a mixed bag.
The East expansion is on track with some delays for blocks capacity. Price hikes in roofing and flooring solutions would aid revenue, but higher costs (geopolitical issues/inflation, etc.) would curb near-term operating margins.
In FY22, HIL reduced debt by Rs 1.2 billion (consolidated debt at March 31, 2022 was Rs 2.88 billion).
The long term plan to become a $1 billion revenue company by FY26 is intact. The Odisha expansion (boards ~30,000 tonnes, panels ~36,000 tonnes, blocks ~150,000 cubic metres) will help diversify regional operations and improving operating efficiencies.
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