1. Opening Hook
Just when everyone thought the tyre cycle would wobble, Rajratan decided to roll over expectations—literally. While the sector cribbed about pricing pressure, Rajratan quietly crossed ₹300 crore quarterly revenue for the first time in its life. No fireworks, no chest-thumping—just tonnes, tonnes, and more tonnes.
Management suddenly sounds like a gym trainer obsessed with reps: volume, volume, volume. Margins? They’ll come later, promise. Thailand is sweating, Chennai is finally waking up, and India is back to peak market share nostalgia.
But before you celebrate, remember: this party runs on capacity utilisation, not pricing power. And volume-led strategies have a habit of looking great… until they don’t.
Stick around. The real masala is in how profits doubled while margins barely moved. 🍿
2. At a Glance
- Revenue up 38% YoY – ₹300-cr barrier broken; management unlocked a new dopamine level.
- EBITDA up 54% – Operating leverage finally decided to show up.
- PAT up 122% – Profits said, “Margins who?” and sprinted ahead.
- Volumes up 32% – Peak tonnage achieved; factories running like Mumbai locals.
- EBITDA margin at 13.4% – Barely budged; volume did the heavy lifting.
3. Management’s Key Commentary
“Revenue grew by 38% YoY while EBITDA grew 54% and PAT strengthened 122%.”
(Translation: Volumes saved the day, accounting did the rest 😏)
“Revenues crossed ₹300 crore for the first time in the company’s existence.”
(Translation: Please clap. This slide was long overdue 👏)
“EBITDA of ₹40.39 crore is the highest in 14 quarters.”
(Translation: After a
