Aug 10, 2019 (Thomson StreetEvents) -- Yakagadziridzwa Transcript yeAstral Poly Technik Ltd yekufonera musangano kana mharidzo Chishanu, Nyamavhuvhu 2, 2019 na12:30:00pm GMT.
Ndatenda.Manheru akanaka, mose.Panzvimbo yeICICI Securities, tinokugamuchirai mose kuQ1 FY '20 Earnings Conference Call yeAstral Poly Technik Limited.Tinesu maneja anomiririrwa naVaSandeep Engineer, Managing Director;uye Mr. Hiranand Savlani, CFO yekambani, kukurukura nezvekuita kweQ1.
Ndatenda, Nehal bhai, uye ndinokutendai, mose, nekujoinha iyi con call yeQ1 zvawanikwa.Mhinduro dzeQ1 dzinewe uye ndinovimba iwe -- munhu wese apfuura nenhamba.
Ini ndaizokupfupikisa nezve izvo chaizvo zvakaitika muQ1 pane bhizinesi repombi uye bhizinesi rekunamatira.Kutanga nekuwedzera kweGhiroth, iyo yakanga yakakwana uye Ghiloth chirimwa chichangobva kugadziriswa.Uye muQ1, chirimwa cheGhiloth chave 60% pa -- chinoshanda pa60% kunyatsoshanda.Dispatches inotangwa kuchamhembe, uye isu takavhurawo kutumira kumabvazuva kubva kuGhiloth chirimwa.Ghiloth chirimwa zvakare chiri kuwedzera.Tine marata, ayo ave kuGhiloth plant ane dhayamita mamirimita 800, ayo amuka uye achishanda kubva mwedzi wapera.
Tiri kutangawo kugadzirwa kwezvimwe zvigadzirwa zvepombi kubva kuGhiloth chirimwa, kunyanya muchikamu chekurima, chikamu chekoramu uye muCPVC, chikamu chemvura yekumwaya moto.Saka Ghiloth chirimwa chichawedzerwa, kunyangwe gore rino uko hunyanzvi hunovavarira kumhanya zvakanyanya.
PaHosur chirimwa, chirimwa chiri -- zvakare chirimwa chitsva chakawedzerwa chiri kushanda, 5,000 matani ekuwedzera ari kushanda.Uye mamwe masimba nemichina ari kuuya uye achange achishanda zvizere muchikamu chino.Hosur zvakare iri kugamuchira corrugator mumwedzi uno, iyo zvakare ichange ichishanda muchikamu chino.Saka kuwedzera kuri kuitika muHosur.Mapaipi ane Corrugated achatangwa muHosur.Uye ikozvino tine imba yekuchengetera ye3 lakh square tsoka ye -- ichidyisa musika wekumaodzanyemba, uyo wakanyatsogadziriswa uye unoshanda kudyisa musika wese wekumaodzanyemba.
Takawana nyika yakagoverwa kubva kuhurumende yeOdisha muOdisha.Nyika yatorwa nesu.Zvirongwa zveOdisha yakasimwa yekumabvazuva zvakatogadzirirwa uye zvakagadzirirwa, uye tichave tichitanga basa rekuvaka muchikamu chino.Saka isu tichave takagadzirira neiyo Odisha kugona nemari inotevera, iyo ichave ichishanda zvakare mune inotevera mari.
Rex akawanawo muchina mutsva muSitarganj kana pombi yakabatiswa mukota ino, iri kushanda zvakare ndokutanga kupa musika kudya.Izvo zvese -- muchina uyu unogadzira chikamu chine marata kusvika 600 mm.
Saka iko zvino nepombi yakaraswa, Astral inogona kugovera kubva kuchamhembe kuenda kuchamhembe -- mberi misika yekuchamhembe, kusvika kuUttaranchal nemisika mu -- kumusoro kuchamhembe, pedyo neHimalayas.Sitarganj achange achiita izvi.Ghiloth ine zvakare corrugated yekugovera Delhi nenzvimbo dzakatenderedza uye chikamu chePunjab, Haryana.Hosur ine muchina uyo uchange uchipa mapaipi ane corrugated kumusika wekumaodzanyemba.Uye nechekare, kune kuwedzera, uye kuenzanisa midziyo iri kuuya pachirimwa cheRex, icho chiri kuramba chichiwedzera.
Rex akapfuura nemamwe matambudziko mukota ino, kunyanya SAP yakaitwa.Kubatana neAstral kwakaitika.Saka isu tinofanirwa kuenda kunoshandura maodha uye bhuku reodha kubva kuRex kuenda kuAstral.Zvimwe zvibvumirano zvaidawo -- zvaida kuvandudzwa.Saka kota ino, takatarisana nematambudziko maviri aya muRex, kwatakarasikirwa nekutengesa kunoshanda kweanoda kusvika mwedzi.
MuQ3 neQ2, matambudziko ese aya akakundwa.Hunhu hutsva hwawedzerwa mubhizinesi rekoroti.Uye iyo nhamba icharamba ichikura muQ2 uye Q3 yebhizimusi remarara, rinova iro bhizinesi idzva reAstral.
Isu tiri zvakare - takawanawo nzvimbo muSangli, kwataizove tichiwedzera huwandu mugore rinouya uye gore rino paSangli plant, yepombi yemarara nemamwe mapaipi akasiyana-siyana, anogadzirwa neAstral muAhmedabad uye zvimwe zvidyarwa zvichagadzirwawo kubva. Sangli yekudyisa iyi Central India musika kubva panzvimbo iyoyo.
Astral zvakare yakaramba ichichinja nzira yayo yekuita bhizinesi muzvikamu zvakasiyana.Isu tine vagovanisi vanenge paPAN India base yezvigadzirwa zvedu zvekurima, zvemichero yedu yekoramu, yezvigadzirwa zvedu zvekasi, zvemagetsi epombi zvigadzirwa, zvezvigadzirwa zvepombi.Kunyangwe muchigadzirwa chepombi, tine 2 zvikamu.Chikamu chePAN chinotarisira mapurojekiti.Izvo zvakanangana nemapurojekiti uye chigadzirwa chitsva.Chimwe chikamu chinobata nechiteshi chekutengesa.
Yedu-yakaderera-ruzha pombi system zvakare iri kukura uye kuwana yakanaka musika mugove mudhiraivha system.Isu tiri kuwanawo mapurojekiti epombi yedu yePEX, iyo yakaunzwa mwedzi mishoma yadzoka pamusika.Uye nguva dzose, mapurojekiti aya ari kuuya mwedzi-nemwedzi kune bhizinesi rePEX.Saka bhizinesi rePEX riri kukura zvishoma nezvishoma uye nekuzvimisikidza mumusika weIndia.
Iyo yekumwaya moto zvakare iri kufamba nekumhanya kwakanaka, ichikura, uye tiri kuwana mapurojekiti akanaka mumoto wekunyura, uye inova -- nhasi, --imwe yedambudziko guru rehurumende kugadzirisa nyaya dzetsaona dzemoto dziri kuitika. munyika yose, nekuunza zvimwe zvigadzirwa zvemazuva ano mubhizinesi.
Saka zvakazara, kudaidza bhizinesi repombi, Astral yakapa nhamba dzakanaka, kukura kwakanaka muQ1.Zvidyarwa zvedu zviri kufamba sezvazvakarongwa, sedhizaini -- yakarongedzerwa kwauri sezvakakurukurwa mumusangano wedu weanalyst - sezvakaburitswa mumusangano weanalyst, uye tiri kufamba takananga mumusika.Uye isu ticharamba tichikura pamwero wekutungamira watakapa mune zvese kukura mubhizinesi, kukura kwematani uye kuwedzera EBITDA yedu uye kuchengetedza EBITDA.
Kuuya kuResinova, sezvatakanga tatungamira, tiri kuenda kuburikidza nekuchinja kwemaitiro kubva ku3-Tier yekugovera sisitimu kuenda ku2-Tier yekugovera kushambadzira system.Zvizhinji zvezvigadziriso izvi zvakapedzwa muQ1 uye zvakamisikidzwa uye zvichienderera mberi nemamiriro emusika wekugovanisa.Zvigadziriso zvishoma zvichiri kuda kuitwa, izvo zvichapedzwa muQ2.Uye Q2 zvichienda mberi, tichaona kukura kwakanaka kwekota-pa-kota mubhizinesi iri.
Isu takagadzirisa zvakafanana pano zvakare kuti tive nekugovewa kwezvigadzirwa zvehunyanzvi, kunyanya huni uye chena glue chigadzirwa, chikamu chemakemikari ekuvaka, muchikamu chekuchengetedza, uye zvese zvekutengesa nemapurojekiti.Saka zvikwata izvi uye iyi nzira yekugovera, yatiri kumutsidzira iri kusimba, ichienda munzira kwayo, nzira kwayo.Uye isu tinenge tichipa iwo manhamba nemhedzisiro senge nhungamiro, uye seEBITDA ichawedzerwa nekuchengetwa sekunge nhungamiro.
Kuuya kuBOND IT kuUK, US, vese vakaita zvakanaka.UK iri kuita kukura kwenhamba mbiri.EBITDA yakawedzera.Saizvozvo, US iyo yakapfuura nemumatambudziko mazhinji mushure mekutora yakagadziriswa zvakanaka.Haisi kungowedzera kukura muUnited States, asi kunyangwe isu tave kutengesa chigadzirwa muUK Uye ku-- uye kuti takatanga RESCUETAPE muIndia, uye budiriro huru kwatiri.Takatotengesa midziyo inenge mitatu mumwedzi mina yapfuura, uye mamwe midziyo iri munzira yekudyisa musika weIndia.Saka RESCUETAPE muIndia ichave budiriro huru.Uye bhizinesi reUK neUS richaramba richikura nezvigadzirwa izvi.Uye isu tiri kuwedzerawo zvigadzirwa zvishoma mumusika weUnited States kuti zvitengeswe, izvo zvichagadzirwa kuUK chirimwa.
Kenya iri kuitawo zvakanaka kubva kumakota mashoma apfuura.Nhamba dziri kukura uye miganho iri kuwedzera.Uye isu tinotarisira kuti kambani zvakare ichaita senge nhungamiro uye nenhamba dzakanaka uye kubuda mukurasikirwa kwese mari iyi kubva kota-on-kota.
Mamiriro emusika ane matambudziko ayo kubva kumakona akasiyana.Asi zvakare, kuwedzera Astral inofambirana nehuwandu hwayo, nekukura kwayo, ine muganho uye nekuwedzera yayo - zvese mubhizinesi remapombi uye anonamatira mukota-pa-kota yemari iyi.Uye wedzera zvimwe zvigadzirwa, wedzera mamwe ekugovera network, wedzera mamwe mapoinzi ekutumira, wedzera mamwe hunyanzvi uye wedzera mamwe makemistri mune zvinonamira pamwe neatsva zvigadzirwa zvinowedzerwa muchikamu chepombi zvakare mune ino Q2, Q3 uye Q4.
Neizvi, isu tichatora zvakawanda pane bhizinesi mune yedu Q&A, mibvunzo-mhinduro nguva.Saka ndaizopa runhare kuna VaSavlani kuti vakutorei nhamba.
Masikati akanaka, mose.Kugamuchirwa kune nhamba dzeQ1 kufona.Kana iwo manhamba ainemi, ndiri kudzokorora nhamba shoma, uye tobva tasvetukira muchikamu cheQ&A.
Iyo yakamira-yega nhamba, nhamba yepombi yakakura kubva INR 344 crores kumusoro mutsara kusvika INR 472 crores kumusoro mutsara, yakanyoresa kukura kwe37%.Kukura kwe37% kuri kunyanya nekuti nhamba dzakashongedzwa neRex.Saka gore rakapera Q1, Rex akanga asipo.Saka kota ino, Rex aripo.Saka nekuda kweizvozvo, kune kusvetuka kukuru kwauri kuona mu37%.Saka Rex akange aendesa INR 40 crores mumutsara uyu wepamusoro.Saka kana tikabvisa nhamba yeRex kunze kwenhamba iyi yekumira-yega, ipapo pane yakamira-yega yepakati pombi kukura kwebhizinesi kunosvika 26% mukukosha.
Nekuda kweiyo vhoriyamu izwi rine chekuita, Rex akange aunza kutengesa vhoriyamu ye2,973 metric tons.Kana ndikabvisa iyo nhamba kubva pamutsetse wepamusoro wekubatanidza, iyo inomira-yega yepakati pombi bhizinesi redu yakaunza vhoriyamu yekukura kwe28,756 metric tons, iri pedyo ne28% kukura kwevhoriyamu.Saka kukosha mazwi ndeye 26% uye kukura kwevhoriyamu ndeye 28%.
Nezve EBITDA, unogona kuona kuti EBITDA yakakura kubva INR 61 crores kusvika INR 79 crores, ingangoita 28% kukura.Saka ikozvino taona nhamba dzakabatanidzwa, zvakaoma kuti isu tiparadzanise iyo EBITDA yeRex, saka tichave - hatisi kugovera iyo nhamba kwauri nekuti zvakanyanya kuoma ikozvino kuburitsa iyo EBITDA yakaparadzana. nhamba yeRex.
PBT yakakura ne38% kubva kuINR 38 crores kusvika INR 52 crores, uye yakafanana 38% mhando yekukura kubva INR 24.7 crores kusvika INR 34.1 crores.Uye kana iwe ukaona yakasanganiswa vhoriyamu kukura, gore rapfuura, iyo yakafanana kota yaive 24,476 metric matani.Gore rino, i31,729 metric tons, iri padyo ne41% vhoriyamu kukura mukutengesa tonnage.
Kuuya kudivi rekunamira rebhizinesi, sekutaurwa kwazvinoitwa mukufona kwekupedzisira kuti zvino zvichienda mberi hatisi kuzogovana nhamba yega yega-hungwaru hwekambani, yekubatsira-yekota yega yega.Saka isu takapa yakasanganiswa nhamba yebhizinesi rekunamatira.Mari yacho yakakura kubva INR 141 crores kusvika INR 144 crores, ingangoita 2.3% kukura iripo.Uye EBITDA inochengetwa pane imwecheteyo 14.4%, yakanyoreswa kukura kwe2%.
Saka iyo nhamba yeResinova yaive yakawanda kana shoma muchikamu chekupedzisira.Uye iyo UK unit yatipa ingangoita kaviri madhijiti, 10% kusvika 12% mhando yemhando yepamusoro yekukura.Asi chokwadi, idzi nhamba dzese dzemasubsidiary dzichawanikwa pawebhusaiti yedu pagore.Mareports ese epagore achange aripo kune ese anotsigira pakupera kwegore.
Iye zvino tichiuya kunhamba yakabatanidzwa, iyi mutsara wepamusoro wakakura ne27% kubva INR 477 crores kusvika INR 606 crores.EBITDA yakakura ne22.78% kubva kuINR 81 crores kusvika ku INR 100 crores, uye PBT yakakura kubva INR 53 crores kusvika INR 68 crore, iyo iri 27.34%, uye PAT yakakura ne27% kubva INR 37 crores kusvika INR. 48 makirogiramu.
Sezvatotaurwa naSandeep bhai, nhamba dzeRex dzaive pazasi pezvataitarisira nekuti takapotsa tarasikirwa nenhamba yemwedzi 1 nekuti anenge 13, 14 mazuva aApril, takarasikirwa nekuda kwekushandiswa kweSAP nekuti izvo zvaidiwa kuti tive nekujekesa kwakanyanya nhamba uye yakasimba MIS system, iyo Astral inotevera mumabhizinesi ayo epakati.Saka takashandisa izvozvo.Saka izvo zvinokanganiswa zvakanyanya nekuti kuita kwekambani diki kunogara kuri dambudziko rakakura.Saka nekuda kweizvozvo, zvakatora nguva yakawanda kupfuura isu - izvo zvatakaronga.Saka nekuda kweizvozvo, isu tinofanirwa kutambura kurasikirwa kwekutengesa.
Uye chinhu chimwe chete, kota imwe cheteyo, takatora -- takaraira kubva kudare repamusoro rekubatanidza.Saka nekuda kweizvozvo zvakare ese aya mashandisiro emari ayo - ese makambani ekuvaka, isu tinotarisira kuti agadziriswe nekuti isu tinofanirwa kushandura nhamba yeGST uye zvese zvinoenderana nenhamba yeAstral GST.Saka maodha ese akachinjwa navo.Saka izvo zvakatorawo nguva yedu yemavhiki mashoma.Saka inenge mwedzi 1 kutengesa nhamba takarasikirwa nekuda kwezvikonzero zviviri izvi: kushandiswa kweSAP uye kushandiswa kweiyi yekubatanidza urongwa.
Zorora, zvese, ndinofunga Sandeep bhai atotaura nezvechigadzirwa-chakafara uye chirimwa-chakawanda chekuwedzera uye zvese.Saka ikozvino, tichabva taenda kuchikamu chemibvunzo-nemhinduro.Ndokutenda zvikuru.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [2]
Uye chekutanga, makorokoto mazhinji nekutipa yakakura seti yenhamba.Chekutanga, sezvo wanga watopa nhamba dzese dzevhoriyamu.Saka 26% yekukura mukutengesa uye 28% yekukura kwehuwandu hwepombi, unogona -- zvakati wandei kubva kupi -- ndeipi chikamu chawakagamuchira kukura kwakadai?
Takagamuchira kukura -- Astral inonyanya ikambani-yakavakirwa pombi, inopa kune mapurojekiti ezvivakwa.Uye isu takagamuchira kukura kubva kunenge misika yese pane yedu yepombi chikamu bhizinesi.Takawedzerawo hunyanzvi hwedu mubhizimusi redu rekurima.Asi zvakadaro tichienzanisa nemakwikwi, isu tiri vadiki mubhizinesi rekurima, asi takawana bhizinesi rakanaka kubva kune chikamu chekurima, zvakare pachikamu chekukura.Asi kukura kwedu kukuru kwabva kubhizimusi redu rekugadzira pombi dzemvura.Uye kukura kwedu kukuru kwabva kuchikamu cheCPVC.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [4]
Kuwedzera kwenzvimbo, kugadzirwa kwedu kwechiratidzo chekusvika, tiri kushanda zvakanyanya mukuwedzera nzira yekugovera kudhorobha diki.Isu tiri kushandawo zvine hukasha kugadzira kuwedzera kwekusvika nezvitoro zvinotengesa.Tava zvakare neparallel division yemapurojekiti.Saka ndingati kuwedzera kwenzvimbo chikamu chayo, asi panguva imwecheteyo, mhando uye kugadzirwa kwemusika zvakatibatsira kuti tirambe tichikura.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [6]
Zvese zvakanaka.Uye chechipiri, kumucheto kumberi kwepombi, kare, takanga taona 17%, 18% yemuganho.Kubva muzvikamu zviviri zvekupedzisira, tiri kuona -- muhuwandu hwekutenderera [imwe] 15%, 16%.Saka isu tinogona here kufunga kuti ichi chitsva chakajairwa kuchikamu chepombi cheAstral?
Saka senge -- Praveen, muganho hausike nekuti matambudziko emusika aripo, senge mbishi kushanduka kuriko.Muchikamu chino zvakare takarasikirwa mune hesiti nekuti, sezvamunoziva, kuti mutengo wePVC wakadonha mukota yapfuura.March, yakadonha zvakanyanya.Uye Kubvumbi, zvakare, yakadonha.Saka nekuda kwaizvozvo, takarasikirwa neimwe nzira.MuPVC, zvakaoma kuverengera nhamba, asi ingangoita INR 7 crores kusvika INR 8 crores mhando yehukasha nhamba yefungidziro yandiri kukupa.Saka icho zvakare chimwe chezvikonzero nei donho diki riripo mumugero wepombi.Asi neimwe nzira, isu hationi chero -- dambudziko rakawanda.Saka ndinofunga 15% mhando yekumhanya chiyero ichachengetedzwa.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rekutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [8]
Nekuti kota yekupedzisira, Q1 -- Q4 FY '19, wanga washandisa mari imwe chete yeINR gumi nemaviri crores.Saka zvakare, senge INR 7 crores, INR 8 crores yeimwe-off, ndinogona kutenda, ndiko kuverenga?
Ehe.Chikamu chekupedzisira chaivewo dambudziko rimwe chete nekuti mutengo wePVC wakadzikira ne7%, 8% mu -- kota yacho pachayo, asi yaivepo zvakare.Uye zvakare, tinopedza paIPL uye zvinhu zvese izvi.Saka ndicho chikonzero zvakare ...
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [10]
Ehe.Zvinhu zvakafanana zvakaitika muchikamu chino zvakare -- nekuda kwaizvozvo.Asi paavhareji, unogona kufunga kuti gumi neshanu muzana ndiyo inogara kwenguva refu yerudzi rwemuganho, iyo yatakambogara tichitaurira yakatenderedza 14%, 15%.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [12]
Saka - senge isu hatisi kuteedzera zvakanyanya kudivi reVAM nekuti isu hatisi kushandisa chero VAM zvakanyanya mubhizinesi redu.Saka handifungi kuti zvichatikanganisa zvakanyanya.Saka isu hati...
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [14]
Isu tiri -- huni ndicho chikamu chitsva chedu, uye takatangisazve mutsara wese wechigadzirwa chehuni mwedzi mishoma yapfuura.Uye isu tiri kuvaka pabhizinesi iri.Saka zvichienzaniswa nemaepoxies edu kana makemikari ekuvaka uye nezvimwe zvakasiyana-siyana zvigadzirwa [Ndinoziva, acrylics], huni haisati yakakura zvekuti mitengo yeVAM ichatikanganisa.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [18]
Saka isu tine mubvunzo unotevera kubva kumutsara weRitesh Shah kubva kuInvestec Capital (sic) [Investec Bank plc].
Sandeep bhai, iwe wakaratidza paRex, takave nekudzokorora muzvibvumirano.Unogona here kujekesa kuti yaive yakanangana neiyo yekupedzisira-mushandisi indasitiri?Kana kuti kwanga kuri kudivi raw material?
Pane vashandisi, chaizvo, nekuti kambani yakabatana kubva kuRex kuenda kuAstral.Saka vese vashandisi ava, isu tinofanirwa kuswedera uye nekuchinja zvibvumirano zvinoenderana.
Saka pasi -- zvibvumirano izvi zvaive muzita reRex, uye vaishandisa nhamba yeRex GST mune zvese.Saka kuti, isu tinofanirwa kuichinja muzita reAstral uye neiyo Astral GST nhamba.
Kuti takatotanga.Saka tiri -- kare, taitsvaga kubva kunzvimbo 1 kana 2.Saka ikozvino tichagadzirisa mamwe masosi.
Zvakanaka.Izvozvo zvinobatsira.Sandeep changamire, kana muchikwanisa kutibatsira kunzwisisa zvirinani, makaratidza kubva ku3-Tier kuenda ku2-Tier kugovera kwekutengesa kunonamira.Kana iwe uchigona kupa imwe flavour pano?Senge, ndivo vagovadzi vakafanana here vanozo -- vanobatsira kune akasiyana chemistries?Kana kuti isu tine vagovanisi vakasiyana vemakemikari akasiyana?Kana uchikwanisa kupa rumwe ruvara rwakafara nedzimwe nhamba pamusoro apa.
Chaizvoizvo, patakawana Rex, vane nhamba huru yevanogovera.Kunyangwe mukomana aitenga 10,000 aive mugovani.Saka isu tinofanirwa kubatanidza iyi mamiriro, uye isu takabatanidza zvinoenderana.Uye isu takabatanidza kuti tive nevanogovera zvikuru.Uye isu takaona kuti kugadzira iyo yekusvika, zvaive zvichiwedzera kuoma kuendesa chero chirongwa kana chero chiitiko chechiratidzo kusvika kumagumo kushandiswa kwaive kunetsa kudarika nematatu aya.Saka isu tine izvozvi - mazhinji eiyi --yechitatu-Tier vaparidzi vashandura kuita yechipiri chiteshi.Uye izvi zvakagoverwa - zvakananga kune vatengesi kana vashandisi vekupedzisira.Uye isu takawedzerawo akati wandei ekugovera chiteshi kwairi kuti ripe kune vatengesi nevashandisi.Saka aya ndiwo magadzirirwo akaitwa chiteshi.Ehe.Tine vanogovera vakasiyana kune mazhinji emakemikari.Zvakare ndiyo shanduko huru yatiri kuita.Pakare, muparidzi mumwe aizoita ese machemistri.Uye aingotarisa nekutengesa 1 kana 2 chemistries nekuti aifara nebhizinesi rakawanda kudaro.Uye mamwe emakemikari atingaite, asi kwete kune inodiwa kana kuti tune yairi kukura mumusika.Saka tiri -- takaita shanduko zhinji pano.Inenge shanduko yekuchinja inotangwa, kupera.Uye ine simba.Zvichaenderera mberi kwemakore anotevera.Ini handisi kuona chinhu chinopedzwa mubhizinesi.Asi chikamu chikuru chakanyatsogadziriswa uye chakaitwa.Kuita kuti kambani irambe ichifamba nekukura kwakanaka, kumhanya kwakanaka uye mari yakanaka.Saka tiri mugwara chairo, uye hatina -- taita gadziriso dzakafanira [zvinoda].
Ritesh, kururamisa uku hakungozotibatsira chete kukura, asi izvo zvichatibatsira mukuvandudza kusvika mumucheto nekuti 1 muganho wese, isu tichangocheka.Saka izvo zvichatibatsira mukuvandudza kwema margins zvakare kuenda kumberi, hazvidi kuti margin yese iuye muhomwe yedu.Asi isu tinogona kupfuudza imwe margin kumusika zvakare.Asi izvozvo zvichatibatsira kuwedzera mavhoriyamu edu.
Saka hazvisi izvo kuti 7%, 8%, Tier 1 yaive ichitora muganho.Saka 7%, 8% kuvandudzwa muEBITDA level.Asi 7%, 8% -- imwe muzana, tinogona kuchengeta isu, uye isu tinoenda kumusika.Saka kusvika pamwero iwoyo, chigadzirwa chedu chichave chakachipa.Asi ndizvo -- isu tiri kuona, ichave yakakura, mukana mukuru, pamwe 1 kota pasi pemutsara.Saka diki mhedzisiro ichave iripo muQ2 nhamba zvakare yatakambotaura kare zvakare kuti - munaGunyana, tichapedzisa shanduko yedu yezvimiro.Uye kubva muna Gumiguru zvichienda mberi, tichange tadzokera kune yakajairika kukura uye nepamusoro-muganho pane zvatiri kuendesa nhasi.
Changamire, mubvunzo wangu ndewekuti munguva yakaoma, tiri kuratidza nezve 28% rudzi rwekukura kwevhoriyamu muchikamu chepombi.Nepo bhizinesi rekunamira rine -- mihoro yave yakati sandara.Saka kana uchingogona kubata mwenje pasi, kudiwa uku kuri kubva kupi?Nekuti kana tikatarisa mamwe makambani ari muchikamu chako kana muzvikamu zvine hukama, tinoona kuti kune akawanda matambudziko avari kutarisana nawo, tichitarisa kune isina kusimba yekuda mamiriro.Saka kana iwe uchikwanisa kukanda kumwe kujekesa nezve musika mamiriro.Uye zvakare mubhizinesi rekunamira, nei iyo mari yaive flat flat?Ndinoreva kuti ndizvo here zvaitarisirwa?Kana kuti pane kumwe kwatakapotsa?
Saka senge -- kutanga, kuuya kuchikamu chepombi.Saka kudiwa kwepombi kwaive kwakanakira indasitiri.Iyo haina kuganhurirwa kune Astral chete.Ndine chokwadi chekuti mumwe mutambi akarongeka achakurawo munguva yakaoma iyi.Saka kwaive kukura kwese kwepombi.Kunyanya, zvakaoma zvikuru kunzwisisa chikonzero chaicho chekukura.Asi ini ndinofunga shanduko iri kuitika kubva kune isina kurongeka kuenda kunzvimbo dzakarongeka.Saka icho chinogona kuva chimwe chezvikonzero zvikuru, zvatiri kufanoona.
Uye kuwedzera, kunyanya kuuya kudivi reAstral, takaita zvakawanda kugadzirisa.Ndinofunga VaEngineer vakatotaura muchidimbu kuti tichawedzera geography.Isu tiri kuwedzera network yemutengesi.Isu tiri kuwedzera huwandu hwechigadzirwa.Tiri kuita basa rakawanda rekuisa chiratidzo.Saka zvinhu zvose izvi zviri kuita kuti ukure.
Uye zvechokwadi, idzi ndidzo nzvimbo dzekukura zvakanyanya, zvakanyanya, zvakaoma kutaura kuti rudzi urwu rwekukura-nzvimbo dzepamusoro-soro ruchaenderera mberi kwenguva ipi.Asi kubva nhasi, kana tiri kutaura musi wa2 Nyamavhuvhu, iyi ndima yepamusoro ichiri kuenderera.Saka zvakanyanya, zvakaoma kwazvo kupa nhungamiro yekuti tichaenderera mberi nendima yepamusoro munzvimbo dziri kuuya.Asi kubva nhasi, kukura kuri kuuya zvakanyanya.Saka zvakaoma zvikuru kunzwisisa musika.Zvino kuuya ku...
Saka iyo - yangu - yakangodaro -- saka mubvunzo wangu wanga uri wekuti vamwe vatambi vakura zvakanyanya muchikamu chepombi pombi, nepo pombi dzanga dzisina kunaka kwavari.Tichiri kwatiri, chikamu cheagri idiki uye chakawanda -- uye kukura kwakawanda kwabva kuchikamu chepombi.Saka ndangovhiringika zvishoma, sei [tsanangudzo].
Hazvina kudaro, chete agri ari kukura.Ndinofunga zvimwe -- ndeipi kambani yauri kutaura iyo imwe haina kukura.Ini handina nhamba yemamwe makambani neni, asi ndine chokwadi chekuti mamwe makambani ari kukurawo nekuti haangogumiri pakudiwa kweagri chete.Nekuti mamwe makambani haasi munzvimbo yeruzhinji ane divi repombi, saka zvinogona kunge zvisiri kuwanikwa kwenhamba.Asi kana zvisina kudaro, isu tiri maonero ekuti nzvimbo yepombi yebhizimisi iri kukura nokukurumidza zvikuru.Saka ndoda, handina nhamba newe.Kana muinayo, please share it to me, ndinogona kupinda nenumber iyoyo futi.Zvinenge zvichindibatsirawo.Asi zvakazara, kukura kuripo.Iyo iri mudivi repombi zvakare pamwe neagri size.Agri side zvirokwazvo kukura kwepamusoro.Saka ndicho chikonzero zvakare.
Kechipiri, kuuya kune mumwe mubvunzo wako wekunamatira divi.Adhesive, hapana chatakapotsa pamusika.Tiri kukura mudivi rezvitoro.Imhaka yekuchinja kwemaitiro, uku kukura kwakaderera uye izvo zvatakatungamira kare kuti tiri kuita maitiro.Sezvatakaita gore rapfuura muAstral, takadzikisa muganho wechikwereti.Isu takagadzirisa muganho wechikwereti kune mumwe nemumwe uye wese mugovera.Takabatanidza munhu wese kuchiteshi chemari.Saka gore rakapera, takatadza kukura.Asi ikozvino nekururamisa uku gore rino, munogona kuona, kuri kutibatsira nenzira huru, uye kutenderera kwekuunganidza kwavandudza zvakawanda kwatiri.Chinhu chimwe chete, kugadzirisa kwemaitiro kuri kuitika mudivi rekunamatira zvakare.Uye imwezve chikamu, mhando yakafanana yekukura kwakaderera ichave iripo.Asi isu tine chivimbo chekuti kubva paQ3 zvichienda mberi, inonamira ichave -- zvakare ichadzoka munzvimbo yekukura kwepamusoro.
Changamire, mubvunzo wangu ndewekuti, kugadziridzwa uku kwekugovera sisitimu yatiri kuita mukunamatira, ingangoita rudzii rwekudyara rwatinofungidzira mune izvi?
Saka zvine musoro, pane -- hapana mari inodiwa.Unonzwisisa kuti tiri kugadzirisa sei.Saka izvozvi, pane 3 akaturikidzana mubhizinesi.Saka imwe, pamusoro peiyo layer ndeye stockist;tevere nhanho yechipiri, mugoveri;uye muchikamu chechitatu, pane mutengesi.Saka ikozvino tiri kubvisa stockist kubva kuhurongwa nekuti zvisingaite, ivo vari kutora pakati pe6% kusvika 8% rudzi rwemariji kubva kwatiri.Saka takafunga kuti regai tiite zvakanangana nemutengesi -- muparadzi.Saka mutengo wedu uchava mudiki -- uchakwira nekuti tichavhurawo madhipatimendi mashoma, uye tichange tichitsigira vese vanogovera kubva mudhipatimendi.Uye vese vemastock vaifarira kwatiri, vese vanoenderera semugovera.Asi ivo vachange vachiwana iyo invoice nemutengo wekugovera, kwete pamutengo westockist.Saka pane -- hapana mari inodiwa muhurongwa uhu.Chete iyo imwe layer yatiri kubvisa kubva musystem.Uye kusvika pamwero wakati, isu tiri kuwedzera madhipatimendi kusvika padanho iro, diki rekuchengetedza rinogona kukwira.Zvikasadaro, handifungi kuti mari yakawanda inodiwa pane izvi.
Changamire, asi mune iyi nyaya, hatione here kuti pamwe kurasikirwa [kunzwisisa] kwekutengesa panguva ino yekuchinja kwechinguva kungatopfuura H1 FY '20 kwatiri?
Kwete, handifungi kudaro nekuti vazhinji vevanogovera vedu vanesu chete.Uye vashoma ve stockist vachaendererawo nesu.Saka handifunge kuti ticharasikirwa nekutengesa.Ehe, muchikamu cheshanduko, ichave iripo nekuti isu tiri kubvisa hekatori yestockist.Saka izvozvo zvichadzoka kwatiri.Saka kusvika pakadaro, hongu, ichava kurasikirwa kwekutengesa, asi kwete kurasikirwa kwekutengesa kusvika kumagumo-mushandisi.Ndiyo chete stock iyo yakarara muhurongwa iyo inoderedza.Uye ndizvo zvauri kuona muzvikamu zviviri zvekupedzisira kuti nhamba dzeResinova hadzisi kusvika padanho, izvo zvaimbova 15%, 20% mhando yekukura kwemutsara wepamusoro.
Asi zvakanyanya, iri kuwana musika.Tiri kuwana musika nenzira huru.Uye ndinokuvimbisa kuti mushure meQ2 neQ3, iwe uchaona shanduko iyi, sezvo Q1 ine -- mibairo mikuru.
Kunyangwe kota ino, nhamba yakaderera iri - chimwe chechikonzero ndechekuti vhoriyamu iripo nekuti kukosha kwadzikira, nekuti mitengo yese yemakemikari inodzika.Kunyangwe iwe uchinhonga VAM, kunyangwe iwe uchinhonga -- iyi epoxy, ingave iwe uchifunga nezvesilicon, kudonha kwakanyanya kuripo mumutengo wezvigadzirwa.Saka isu tinofanirwa kudzikisa mutengo wechigadzirwa chekupedzisira zvakare.Saka kukura kwevhoriyamu kuchiripo.Asi izvo - asi kukwezva kwezviwanikwa kuri kuitikawo zvakafanana kubva kuhurongwa.Saka vese varipo.Saka kukura kwevhoriyamu, hapana kurasikirwa kwakawanda.Asi hongu, kukosha kwedivi, isu tese takarasikirwa nekuti isu tadzikisa mutengo zvakare.
Asi mukunamira, takaita zvese.Saka hapazove nechero CapEx inoitika mune izvo sebhizinesi (risinganzwike).At least kuuya gore rino and even next year, paizongove nepadiki.
Uye isu takaisa zvese zvinodiwa kuti tive nemakemistri ese, kugona, kutsigirwa, zvese zviri munzvimbo.Saka divi rekudyara pabhizinesi iroro raizove risiri.Uye kuwedzera kwemusika kuchave kunorema kwazvo.Uye tichave tichishanda nesimba kuti tiite chero chakanyanya kudiwa kudivi iro kugadzira brand mumusika wechigadzirwa chese uye chemistry yese yatinogadzira.
Sandeep bhai, mibvunzo mishoma.Imwe, indasitiri yese ichabatsirika here kubva muchirongwa ichi cheJal se Nal (sic) [Nal se Jal scheme] cheHurumende yeIndia?Uye pane here nzira iyo Astral inogona kutora chikamu mune izvozvo?Uye inomhanyisa chimiro chedu chekukura padivi repombi?
Chokwadi.Astral ichaita basa guru mubhizimusi iri riri kuuya rekugovera mvura.Pachave nezvigadzirwa zvakawanda zvichabatsira -- hurumende nezvirongwa zvezvivakwa zvekugovera mvura muno.Kune zvimwe zvakawanda zvigadzirwa zvatiri kutotarisa kune tekinoroji kumberi.Kwaitwa misangano yakasiyana siyana iyo ichadiwa nezvivakwa zvehurumende zvekutakura nekugovera mvura.Saka hongu.Astral iri kushanda nesimba pane izvi.Kuongorora zvigadzirwa zvitsva zvine hupfumi, zvirinani uye nekukurumidza ku [kuisa] kune aya marudzi emapurojekiti.Zvakare maererano, kushanda pakukwanisa kwayo, kuwedzera mitsara yechigadzirwa inoda kunge iri muzvikamu zviripo, zviripo zvigadzirwa portfolio.Uye zvakare tiri kushanda pamitsetse yezvigadzirwa nemakambani anobva kuUnited States, kwatakatowana chigadzirwa chizere ne2, 3 midziyo yekuchengetedza mvura.Chigadzirwa chacho chinogona kuiswa pasi pevhu.Tinogona kuchengetedza mvura, kuishandisa zvakare kana kuisazve mvura kuMadera.Saka hongu.Ichi ndicho chikamu, chiri pachangu -- pamusoro pezvandinokoshesa.Uye basa rakawanda riri kuitika kubva kumagumo edu pachikamu ichi.Uye ini ndinoona ramangwana rakanaka, rakakura mune ino chikamu mumakore anotevera.Uye isu hatizove kumashure kwemumwe munhu muchikamu ichi.Isu takatoita JV nekambani iyi.Kutanga kuunza uye kutengesa, wozogadzira muIndia.Kuchengetedza mvura kuri pamusoro pemutsara wedu.Uye mvura -- Jal se Nal (sic) [Nal se Jal scheme] zvakare mapurojekiti ari pamusoro pepfungwa dzangu.
Zvakanaka kunzwa izvozvo.Sandeep bhai, iwe wakataura nezveimwe JV, ndinofunga, saka iwe unogona kungoisa mamwe emamwe mavara pane izvozvo?Ndoreva...
Zvakanaka.Ndazviwana.Ndine izvozvo.Uye iwe wakataura nezvezvishoma zvigadzirwa zvitsva sePEX nemoto sprinkler, column uye casing.Zvino ingave saizi yeiyi vhoriyamu parizvino uye yakasanganiswa?Ndizvo zvakaita chigadzirwa chitsva chiri kubuda, kana ndichifanira kutaura izvozvo?Uye kukura kwakadini kwayaigona uko -- ngatitii, makore mashanu pasi pemutsara?Ndinofungidzira chimwe chinhu chingaunza mavara pane icho chingave chinobatsira chaizvo.
PEX chigadzirwa chitsva.Iwe unotoziva nezvePEX, cross-yakabatana polyethylene.Inoshandiswa munyika dzese dzakasimukira neCPVC yekushandisa pombi yemvura, yemvura inopisa uye inotonhora.Pamapurojekiti ekutanga muIndia, mamwe acho anoshandisa CPVC, vamwe vacho vanosarudza kushandisa PEX.Saka kuti tisave neizvi mupotfolio yedu, takatopinda nezvakawanda -- tekinoroji yazvino yePEX-a mumutsetse wechigadzirwa ichi.Parizvino, kuverengera musika wenguva yemberi kwakakurumidza.Chigadzirwa chacho chakanyanya -- munhanho yepedyo, ichizvigadzira pachayo.Asi ini ndinogona kungokanda mwenje mumwe chete watinawo -- mukutanga kwechigadzirwa ichi, mukati memwedzi ingangoita 5 kusvika 6, tiri kuwana avhareji yekutengesa INR 10 lakhs, INR gumi nemashanu lakhs pamwedzi yePEX mumapurojekiti ayo vanopa mazano vanoda PEX uye vanosarudza PEX.
Uye ikozvino kuyera chigadzirwa chako pamoto sprinkler, hongu, musika uyu uri kubuda.Soko iri rakanga richiri pedyo nedanho.Ichi chigadzirwa chiripo pamusika kubva angangoita gumi, 15 -- 10 makore kusanganisa kubva kuAstral.Nekuda kwezvikonzero zvakasiyana, nekuda kweakasiyana masisitimu emvumo, izvi zvanga zvisiri kushandiswa nenzira huru muchikamu ichi.Asi maitikiro ari kuita nyaya dzemoto idzi, tsaona dziri kuitika uye segwaro reNFPA, chigadzirwa ichi chinogona kushandiswa muzvivakwa zvese izvi zviri kuitika izvi kana nekuda kwemoto, vanhu vari kufa.Kuchengeteka kunodiwa zvino muchivako chose.Uye ini ndinoona chigadzirwa ichi chichiputika uye kukura nekukurumidza mumakore anotevera, zvakanyanya -- mugore 1 kana makore maviri, uchaona chigadzirwa ichi chiri kukura nekukurumidza.
Mukana wakakurisa mumutsara wechigadzirwa ichi, Astral inotakura uye makwikwi ndee -- Astral inogadzira chigadzirwa chega chega, chimwe nechimwe chakakodzera mumba nehunyanzvi hwayo, nechayo -- nemvumo yakafanana muIndia.Saka isu takawanda, tinodhura zvakanyanya kupfuura makwikwi ayo -- muchikamu chechigadzirwa ichi.Uye zvakadaro, tinogona kutengesa chigadzirwa pamari yakanaka zvakare.Saka ini ndinoona musika wakakura, ramangwana rakanaka rechigadzirwa ichi, kunyanya icho [chisingaonekwe].
Uye Sandeep, mubvunzo wekupedzisira, padivi pombi.Chero -- zvatiri kuona kuti iwe unoramba uchiisa mari muvashandisi vakasiyana.Iri muchirimwa chitsva kana chigadzirwa chitsva kana mall nyowani.Uye izvi zvino wedzera yedu margin profile.Pane shanduko yemaitiro here kana kuti [kumberi kwekikweki] kumucheto kwatingatarisira kubva papombi kuenda kumberi?
Ini ndinofunga isu taiwanzotaura kuti, 14%, 15% mhando yemuganho imhando yakagadzikana yemargin.Asi iyo nzira mukana urikuuya weAstral wezvigadzirwa zvitsva kana pamwe kune zvigadzirwa zviripo uye zvese, saka ikozvino miganho iri kuwedzera kudivi repamusoro.Saka isu tinofanirwa kuona - isu tinofanirwa kutarisa mamiriro emusika.Uye isu tinovimba kuona - uye chechipiri, kwakawanda kugadzirisa kwemukati kwatiri kuita maererano nekugadzirisa.Senguva yekupedzisira zvakare mumusangano wemuongorori, takatsanangura zvakadzama kuti ikozvino kwese kwese isu tiri kugadzira verticals uye musoro wega wega uri kugadzwa muchikamu chimwe nechimwe.Saka -- uye nekuwedzera kweiyo geography yechirimwa, senge -- iko zvino kuchamhembe kwave kutosimuka uye kushanda nesimba re60% mugore rekutanga.Ndinogona kutaura, kubudirira kukuru.Saka zvimwe chete gore rinouya, kumabvazuva uku kuchave kushanda.Saka nhasi, iwe unoona kutengesa chigadzirwa kubva kuAhmedabad kuenda kumusika wekumabvazuva, isu tiri kuunza gumi kusvika gumi neshanu muzana.Uye tingave sei tichikwikwidzana mumusika iwoyo.Asi zvakadaro, tirimo mumusika iwoyo.Saka kana tinenge tavepo, ipapo pane mikana yakakura yekuti tinogona kuwana musika wakanaka mugeography zvakare.Uye kwete chete mugove wemusika, asi miganho yakanaka zvakare nekuti kana iwe uchinge wave pane imwe nzvimbo chirimwa, padyo ne[chiteshi], saka izvi zvichatibatsira munzira huru uye kutibatsira mukuwedzera muganho wedu.Asi panguva ino, ini handisi kuda kuwedzera nhungamiro yedu yemuganho nekuti iyo nharaunda yakaoma.Matambudziko mazhinji ari kuitika pamusika.Yakawanda yekusagadzikana iri kuitika mune ino mbishi zvinhu.Kuwanda kwekusagadzikana kuri kuitika kudivi remari.Saka hatidi kusvetukira mukati tichiti tichange tichiwedzera maringe edu neimwe pesenti.Asi kuwedzera inzwi kunonyanya kukosha kwatiri.Uye nekukura uku kwevhoriyamu yepamusoro, kana tichikwanisa kuchengetedza rudzi urwu rwemuganho iyo pachayo kubudirira kukuru pasi pemamiriro atiri kushanda mumusika weIndia.Saka chengeta chigunwe.Kune akawanda headroom aripo ekukura.Headrooms aripo kuti awedzere margin.Nekufamba kwenguva, isu tichavhura chimwe nechimwe uye zvese.Uye iyo trajectory iri munzira yakanaka, ndinogona kutaura.Asi panguva ino, kuiverenga ichave yakanyanya, yakaoma kwazvo kwatiri.
(Operator Mirayiridzo) Tine mubvunzo unotevera kubva kumutsara weTejal Shah kubva kuReliance Nippon Hupenyu Inishuwarenzi.
Ini ndinongoda kunzwisisa, pane shanduko yemaitiro mugero rekugovera, iro rawatora kubva kuTier 3 kuenda kuTier 2 kugovera.Paunenge uchitsanangura, pane inventory yekunyora-shure yawatora.Ndapota ungatitsanangurira -- kunzwisisa kuti -- izvi zvinoverengerwa sei?
Saka rega ndikugadzirise, inventory nyora-off, hausi kuti tatora.Saka hapana chekunyora-shure nekuda kwekuchinja kwechimiro ichi, chekutanga.Kechipiri, hesitori, chero yakamisikidzwa neiyo Tier 1 level mugovani, saka isu tinofanirwa kuiwana - kubvisa kubva pane iyo hesitori nekuti isu tinofanirwa kuitengesa kumusika.Kana asingakwanisi kuitengesa, isu tichatora kwaari, tichitengesa pamusika.Hakusi kudzima.
Changamire, ndizvo here -- changamire, nekukanganisa mu -- kumashure mumabhuku edu, pane here kuverenga kwatinofanira kuita nezvazvo?
Zvakanaka.Uye changamire, chechipiri, pane chikamu chisina kugoverwa chikamu cheINR 311 crores.Mungatibatsirewo here kunzwisisa kuti izvi zvinorevei?
Ini ndinofunga izvo zvakanyanya nekuda kwekukwereta kwe - zvikwereti uye zvese.Uye zvandinofunga, pamwe -- kunyanya imhaka yekukwereta, asi ndinofanira kuona nhamba.Uye ndinofunga -- mukakwanisa kundifonera mangwana, ndinogona kukupai nhamba chaiyo.Handina kana chinhu neni.
Chokwadi, changamire.Uye changamire, mumwe mubvunzo wekupedzisira, dai ndaigona kupinza mukati, maererano nemubhadharo wevashandi.Changamire, pane kuwedzera kwe19% quarter-on-quarter.Ndapota ungakanda rumwe ruvara pane izvozvo?
Hongu, hongu.Saka ndizvo zvinonyanya zvikonzero zviviri: Chimwe ndechekuti isu tichawedzera vashandi vanopedza mubhizinesi rekunamatira, saka ndicho - icho.Chechipiri, iyo yakajairika increment iripo.Uye chechitatu, ichi chiri chikamu chakaderera, saka nekuda kweiyo muzana mazwi, inotaridzika zvakanyanya.Asi kana iwe - kunyangwe ikozvino pagore, kana iwe ukaona iyo Q4, inogara yakakura.Chikamu chekutanga chinopa zvakatenderedza 17%, 18% yemutsetse wepamusoro.Uye chikamu chekupedzisira chakapa zvakatenderedza 32% yemutsetse wepamusoro.Saka nekuda kweizvozvo, mwaka wauri kuona, iyo inhamba yepamusoro muQ1.Asi pagore rega rega, ndine chokwadi chekuti hazvizove zvakakwirira zvakadaro.Uye panguva imwecheteyo, kune mutsara wepamusoro kukura, zvakare iwe unogona kuona 27% mukota ino.
Changamire, pamubvunzo wapfuura, maratidza kuti pane zvinhu zvakatengwa, izvo zvakadzorerwa.Changamire, munokwanisa here kuverenga mari yacho pano?
Saka izvi zviri kuitika kubva pakupedzisira -- ingangoita 2 quarter.Saka ndinofanira kutarisa kuti, ingani -- nhamba.Uye kota iyi ichave nhamba diki muQ3 -- 2 zvakare.Saka zvakaoma kutaura.Asi zvakazara, kazhinji, kunzwa kwangu kwemudumbu kuchiti, ndingangove ndakakanganisa pahuwandu chaihwo, ndiri -- ndiregererei, asi kazhinji, paavhareji, vagoveri vepamusoro vakabatwa - vakabata INR 40 crores kusvika INR 50 crores of inventory.Saka pakupedzisira, INR 40 crores kusvika INR 50 crores ichadzoka muhurongwa, uye ipapo tinenge tichitengesa.Saka zvakazara, ichave iyo rudzi rwenhamba kwegore rakazara.
Zvakanaka.Uye Sandeep bhai, wakaratidza kuti zvinhu zvanga zvakajairwa kubva muna Gumiguru zvichienda mberi, kana isu tiri kushandura chimiro chekugovera.Saka changamire, tine chivimbo chakadii pakuwedzera ...
Isu tine chivimbo 100%.Zvese zvave kuda kuitwa.Uye Astral, chero chayakapa -- yakapihwa nhungamiro yakajeka mukati imomo.
Isu hatisi kuedza kuita chero chinhu pasina kujeka kwakakwana uye zvese zvinoitwa.Ndine 110% chivimbo, uye zvinhu zviri kufamba nenzira yakanaka.Ini, zvakare, ndinoiratidza muchimiro chenhamba, uye icharatidzwa muchimiro chenhamba.
Uye ini pachangu, ndiri kutyisa bhizinesi rese rekunamira ne-- ndichipa 70%, 80%.Ndine chivimbo chakapetwa pamusoro pazvo.
Unofanira kuvimba nesu.Zvatiri kuita ndezvenguva refu, uye iwe uchaona nhamba uye kukura kusvika pakusikwa, chemistry yega yega inofamba.Panguva imwecheteyo, isu tiri kushanda pane yakawanda chemistry yekuwedzera.Takapedzisa huwandu hwese hwemakemikari ekuvaka.Tine R&D centre yakatenderwa izvozvi neHurumende yeIndia.Saka isu tine yakanyanya-ye-ye-art R&D centre.Mamwe machemistries achange apera uye achiendesa kune yedu UK plant, basa riripo.Saka hazvisi izvo kuti tiri kungoita zvinhu nekuti izvi neizvo hazvina kufamba zvakanaka kana izvi zvakatadza, asi isu tiri kuitira zvinhu - kuwedzera musika nekukura.Uye iwe uchaona muhuwandu.
Ndinoreva chaizvo, izvi zvese mabhenefiti enguva refu.Saka isu hatifanirwe kuongorora zvese (zvisinganzwike) zve1 quarter kana 2 quarter.
Isu taifanirawo kupfuura nemumatambudziko mazhinji akadai mubhizinesi repombi.Uye isu tagara tichipfuura nepakati pavo, tichipa musika kujeka kwakazara uye kuvimba kwakazara uye kuendeswa panguva yega yega yatakaita sarudzo huru, shanduko huru, shanduko zvachose kubva kune sosi kuenda kune imwe sosi muCPVC.Uye takazvishandira nechivimbo.Uye ini ndiri kukuudza, ticha-- takashanda pazviri nechivimbo.Uye handikwanise kutaura -- panguva ino, asi ndiri kukuvimbisai, muchazviona muchimiro chenhamba kubva -- kubva pachikamu chino zvichienda mberi, ndiri kukuudzai.Uye Q3, Q4 ingave iri mumhando huru dzinobhururuka.
Izvi zvinobatsira chaizvo, Sandeep bhai.Changamire, mubvunzo unechekuita.Izvi zvinokanganisa sei mari yekushanda kubva pa3-layer kuenda kune 2-layer?Saka ini handizive, imarii kugoverwa padanho restockist?Kana ku...
Izvo hazvizokanganisa mari yekushanda nekuti kunyangwe pano zvakare mazhinji acho ari -- isu tauya nawo ari pamari uye anotakura kana kuti matenderedzwa mazuva gumi nemashanu kusvika makumi matatu.Kunyangwe isu tiri kutaura nevemabhanga kuitira mari yechannel.Isu tine mupiro wakanaka kwazvo kubva kune rimwe bhangi kuti utitsigire pamari yechiteshi.Saka isu tiri 100% kuchengetedza mari yedu yekushanda yakasimba uye kuita shanduko dzese sezvinodiwa.
Saka tiri kushanda kumativi ose.Iyo haina kuganhurirwa kune chete 3-Tier kune 2-Tier chinhu.Asi zvakafanana, isu tiri kushanda kune mamwe akafanana.Uye Astral zvakare isu takatora nguva yakawanda kumisikidza mhando uye kuenda kune kudzikisira mumazuva anogamuchirwa, tobva taenda kuchiteshi chemari uye zvese.Uku kuenderera mberi kwekuita, kutaura nemubhangi, kuvapinza muBoard uye kunyengerera kune - mushambadzi kuti auye kunzira yekubhadhara mari, achiwana zvibvumirano zvese panzvimbo nemugovera wega wega.Ichi chiitwa chakareba kwazvo.Hazvigone kuitika mu1 kana 2 quarter.Isu tinogara tichiudza vatengesi vedu kuti ndapota chengetai moyo murefu nekuti kupera kwezuva, isu hatisi pano kwe1, 2, 3 kana 4 kota.Tiri pano kwemakore.Uye unofanira kuchengeta mwoyo murefu.Uye nekushivirira uku - kunyangwe Resinova patakatora, ndine chokwadi chekuti vanoisa mari vakaodzwa mwoyo kwazvo kwegore rekutanga kana 1.5 makore nekuti investor anotarisa kubva pamutengo wemasheya.Kana iyo manejimendi yekuona, kana iwe uchiona, isu hatitarise iyo stock mutengo wekutarisa.Isu tinogara tichiona kuti idzi ndidzo shanduko dzehurongwa izvo zvichabatsira sangano kwenguva refu.Uye isu tinogara tichiti, "Vese vatengesi, chengetai moyo murefu uye isai mari ye5-year point of view."Ndine chokwadi mune ino 5-gore kutonga, chero zvigadziriso zvinodikanwa kune chero chinhu, zvichashandurwa kuita nhamba inobatsira.Zvakafanana zvakaitika kuRex zvakare.Patakawana Rex, EBITDA yakadonha kubva pa14%, 15%, 16% yakajairika EBITDA yeRex.Takadzika kusvika kunyange 3% mhando yeEBITDA.Uye chikamu chekupedzisira, unoona zvakatenderedza 6%, 7% kana 8% mhando yeEBITDA.Iye zvino wauya kune maviri-manhamba emhando yeEBITDA.Saka izvi - zvese zvinhu zvinotora nguva nekuti -- uye dzimwe nguva tinotadza mukufungidzira kwedu zvakare.Isu tinofunga kuti tichaita kururamisa mu2, 3 makota kana pamwe 4 makota.Zvinogona kutora 6 quarter zvakare.Saka zvakanyanya, zvakanyanya kuoma kana tichiita zvinhu zvinoshanda, dzimwe nguva zvinotora nguva uye isu tinogona kuenda mukutonga kwedu zvakare.Pakupera kwezuva, isu tiri vanhuwo.Uye isu tiri kutora kudonha nehunyanzvi.Saka tinogara tichikumbira kumunhu wese kuti, "Musatarise, ndapota, 1 kota kana 2 makota. Rambai nemoyo murefu. Kana zvinhu izvi zvango -- zvagadziriswa, zvinoshanduka kuita nhamba pano."
Chechipiri, rega ndive pachena kuti ndakatarisa kumusika mamiriro uye mamiriro emari.Kupa zvikwereti uye kutengesa zvinhu ndicho chinhu chekupedzisira chatave tichiita kubva pamakore maviri apfuura, kunyangwe mumapombi uye mabhizinesi anonamira.Uye isu hatingazoisa pangozi chero kukura pamubhadharo wekupa zvinhu pazvikwereti zvakakura kumusika uyu kana kuwedzera mitsara yechikwereti kana kufanotaura nhamba idzi.Izvi ndizvo - isu tiri - chekutanga chekutanga ndechekuchengetedza izvi.Uye kuchengetedza zvese izvi mukutarisa, isu tiri kuita zvinhu zvese izvi uye kuenderera mberi, handiti?
Sekutaura kwakaita Hiranand bhai, tinopfuura nemumatambudziko muRex.Isu tiri, zvakare, mukukura munhamba mbiri.Saizvozvowo, mumapombi, tinopfuura nemumatambudziko akadaro.Uye isu hatina dambudziko mukunamira.Yakapfuura matambudziko ese aya uye kukura uye muganho.Zvakadaro, hatisati tambove nemuganho wedu usina kunaka.Ndicho chimwe chezvinhu zvikuru zvatakatarisira uyezve shanduko dzese.
Kunyangwe pombi, zvakare kana iwe uchiona, kune yakakwirira kukura dhairekitori.Isu dzimwe nguva tinonetseka kudivi iro zvakare.Tinogara tichitaura neboka redu kuti, "Mari yedu yakachengeteka here?"Nekuti imwe nguva, kana iwe ukawana kukura kwepamusoro kubva kune chero muparadzi kana chero geogirafi, isu tinove nekuchenjerera nekuti ino haisi nguva yakanaka mumusika, kuve wakatendeseka kwazvo, nekuti musika wakaoma.Mumamiriro ezvinhu akadaro, kuchengetedza kunaka kwepepa rekuenzanisa ndiro dambudziko guru kwatiri.Saka isu tinogara tichitarisa kaviri neanogovera wedu, kaviri-tarisa nechikwata chedu.Kuburikidza neruzivo rwemusika wedu, tinounganidza ruzivo.Kuti kungave kuri kudiwa kwechokwadi kana kuti mumwe munhu ari kutora hesitori yepamusoro uye ipapo chimwe chinhu chinokanganisa, saka tinotamba zvakanyanya, zvakanyanya kungwarira.Uye ndicho chikonzero isu - gore rapfuura, takaderedza mazuva echikwereti zvakare.Uye iwe unogona kuona muhuwandu hwebalance sheet zvakare.Saka isu tinofanirwa kuva -- ndinobvumirana naSandeep bhai kuti nemutengo wechikwereti kana nemutengo wezvinotambirwa kana bharanzi remhando, hatidi kuita bhizinesi.Tichafara kuita bhizinesi diki diki, asi isu tinoda kuchengetedza kuti pepa redu rinofanirwa kuramba rakagwinya.Isu tinofara kana akati wandei -- kana 3% akaderera kukura, asi isu hatidi kubayira nemhando yepepa remari.
Madzimai nevarume, ndiwo waive mubvunzo wekupedzisira.Ini zvino ndinopa musangano kune manejimendi kuti vavhare mhinduro.Changamire, kwamuri.
Ndatenda zvikuru, Sandeep bhai naHiranand bhai nekuva mutori wechikamu pakufona.Ndokutenda zvikuru.
Ndatenda, Nehal, uye ndinokutendai wese anotora chikamu nekujoinha iyi con call.Uye kana paine chakasiiwa, ndiripo nhasi.Uye mangwana zvichienda mberi, tese tiri kuenda kuEurope.Saka ndapota, kana uine chero mubvunzo wasara kunze, unogona kundifonera pafoni yangu.Ndinogara ndiripo kuti ndipindure mubvunzo wako.Ndokutenda zvikuru.
Nguva yekutumira: Aug-28-2019