Earnings Call Transcript
KDDL · price
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KDDL reported strong Q4 FY26 standalone performance with revenue of INR145.3 crores (42% YoY) and highest-ever EBITDA margin of 25.1%. Full-year standalone revenue reached INR506 crores with 31.9% growth, while consolidated revenue was INR2,207.8 crores (30.3% growth). Precision Engineering (Eigen) grew 35%+ to INR200 crores, Watch Components grew 20% to INR240 crores, and Packaging (Ornapac) grew 37% to INR23 crores. Subsidiary Ethos crossed 100 boutiques milestone. Management guided 25% CAGR growth for Precision Engineering, Packaging, and Bracelets over the medium term, with bracelet capacity set to expand from 75,000 to 110,000-120,000 units. Favre-Leuba brand is expected to more than double sales in FY27, now present in 20+ countries with 80+ points of sale.
Strong recovery execution with margin expansion signals operational efficiency gains. The 25% medium-term CAGR guidance for three business segments provides clear growth visibility, while capacity expansion in bracelets and backward integration in precision engineering indicate confident capital allocation toward high-growth opportunities.