Nov 4, 2019 (Thomson StreetEvents) -- Yakagadziridzwa Transcript yeAstral Poly Technik Ltd yekufonera musangano kana mharidzo Chishanu, Gumiguru 25, 2019 na9:30:00am GMT.
Madzimai nevarume, zuva rakanaka, uye tinogamuchirwa kuAstral Poly Technik Limited Q2 FY '20 Earnings Conference Call inotambirwa neInvestor Capital Services Limited.(Operator Instructions) Ndapota cherechedza kuti musangano uyu uri kurekodhwa.Ini zvino ndinopa musangano kuna VaRitesh Shah.Ndinokutendai, uye kwamuri, changamire.
Thanks, Aman.Zvinofadza kugamuchira Astral yekota yemusangano wekufona.Tinesu VaSandeep Engineer, Managing Director, Astral Poly;uye VaHiranand Savlani, Chief Financial Officer.Changamire, ini ndichakukumbirai kuti mutange nekutaura kwekutanga uye kutumira kuti tingaite chikamu cheQ&A.Ndatenda.Kwauri.
Tinokugamuchirai mose kune yedu Q2 mhinduro uye zvakare panguva yemwenje, Diwali.Saka chekutanga kutanga, tinokushuvirai gore Idzva rinofadza uye ribudirire uye Diwali Anofara.
Wese munhu anofanira kunge akapfuura nenhamba dzeQ2 nemhedzisiro.The -- rega nditange nebhizimusi redu rePipe.Bhizinesi rePipe rave richiita zvakanaka kubva kumakota ekupedzisira e2.Iri munzira yekukura kwepamusoro.CPVC yanga ichikura pamwe nePVC yave kukura zvakaenzana.Muchikamu chino chekupedzisira, sekuziva kwemunhu wese kuti, kune basa rekurwisa-kurasira paCPVC uye rakabatsirawo Astral kuti isangokura mumatunhu akasiyana, asi kuwedzera kune vanobatana chiteshi zvakare mumatunhu akasiyana.PVC zvakaenzana yaive nedambudziko rayo rekukwira kwemitengo pamwe nekukura nekuti vazhinji vevatengesi vepurasitiki vaive nemamiriro ezvinhu ekusaendesa chigadzirwa nenguva sebundle reCPVC nePVC.Zvatinofanoona kubva kumwedzi mitanhatu kubva zvino, kuti tichave tichiramba tichikura mune ese CPVC uye PVC zvikamu zveese chigadzirwa mutsara Astral inogadzira.Kunyanya muchikamu cheCPVC, muchikamu chekupedzisira, takaitawo zvakanaka pabhizinesi redu reMoto Sprinkler.Takaita mapurojekiti akati wandei.Misika mitsva mitsva yatanga iko zvino kushandisa CPVC mumoto sprinkler.Isu takawedzerawo huwandu hwemavharuvhu muCPVC mukota yekupedzisira uye ichave ichienda kumusika kubva muchikamu chino.Saka taita kuwedzera mukugadzira valve, CPVC.Chirimwa chiri kuGhiloth kuchamhembe chave, munguva pfupi pfupi yenguva, chasvika pakukwanisa kushandiswa kunosvika 55% -- 65%.Saka icho chiratidzo chakanaka kwazvo, uye takatanga kushanda pamichina yekuwedzera sezvinodiwa mugore rinouya paGhiloth plant.Chirimwa chiri kumaodzanyemba, kuwedzera kwapera.Tatanga kugadzira pombi yeborewell column kubva kuchirimwa chekumaodzanyemba kuti tiendese kumusika wekumaodzanyemba: Tamil Nadu, Karnataka, Kerala uye chikamu cheAndhra Pradesh neTelangana uye kunyange chikamu kumaodzanyemba kweMaharashtra.Ndiyo imwe yebudiriro huru kukura muchikamu chino, icho -- apo tiri kukura nekukurumidza.Isu takapedzawo mhando yezvigadzirwa zvePVC, izvo zvatisiri kugadzira pachirimwa chekumaodzanyemba, kunyanya chigadzirwa chepombi: iyo chena PVC.Saka ndiko kuwedzera muchirimwa chekumaodzanyemba.Maodzanyemba ane gap rakakura re 3 lakh square feet plus, iro rave kushanda zvizere, riine mutsara wechigadzirwa chiripo kubva ipapo.Isu tichawedzerawo kushanda kwakakodzera muchirimwa chekumaodzanyemba, chinova -- chirongwa chichatanga munguva pfupi mumwedzi mishoma inotevera, uye mugore rinotevera, tichange tichigadzira zvese zvinokurumidza kufamba zveCPVC nePVC kubva. chirimwa chezasi chiri kuHosur.Saka Hosur ikozvino inzvimbo hombe yeAstral, uye Astral icharamba ichiwedzera nzvimbo yayo kuHosur yekumaodzanyemba.
MuAhmedabad, chiyero chinodiwa kuwedzera kuri kuitika kuSantej.Isu tave kuenda kune zvimwe zvemazuva ano zvechirimwa uye otomatiki yechirimwa.Ahmedabad chirimwa, chakakodzera, kurongedza zvese otomatiki izvozvi.Saka isu tine michina inogadzirisa mafittings uye kunyange kurongedza zvakafanira.Saka isu takaita otomatiki yekukodzera kurongedza, uye iko zvino tave kuenda kune otomatiki yekurongedza pombi zvakare.Saka zvichange zvichitibatsira kuti tisangokura nekukurumidza, asi zvakare kuchengetedza pane akawanda maficha.
Zvakangofanana pachirimwa paDholka, takawedzera simba redu rekugadzira mavharuvhu, kukwanisa kwedu kugadzira zvigadziro zvegranite.Agri fitting range ikozvino yapera zvachose.Iyo mhando yeagri, chero inowanikwa nevakwikwidzi mumusika Astral ina.Uye takatanga basa rekugadzira chirimwa chemazuva ano kuti chingogadzira huwandu hwakakwana hwezvikamu zvemaindasitiri nepombi dzemvura -- mavharuvhu epombi.Uye chirimwa ichi chichange chave kushanda zvakare gore rinouya.Saka pane chirongwa chekuwedzera chinoenderera chiri kuitika kune ese zvirimwa zvepombi muIndia neAstral.
Basa re solar -- padenga rezuva, iro ratakanga tapa kune imwe kambani richapedzwa mumwedzi unotevera.Saka isu ticha -- zvese zvidyarwa zvedu zvichave nedenga redenga masisitimu anoshanda mumwedzi kana kupfuura.
Nyika yatakawana kuOdisha, uye basa ratanga, zvirongwa zvekuvaka zvakamiswa.Mapurojekiti akamiswa.Ivhu rine -- makondiro anofanirwa kurongeka, saka tatanga kuenzanisa ivhu.Uye munguva pfupi, mukati memwedzi mishoma inotevera, tichatanga basa rekuvaka paOdisha.Uye gore rinouya, yedu inotevera yepakati yemari kana kusati kwapera kwemari inotevera, chirimwa cheOdisha chichave chakanyatsoshanda.
Kunze kweizvozvo, iyo yakaderera ruzha drainage system, yatinotengesa kumusika weIndia yatipawo kukura kwakanaka, kwete mumusika weIndia chete, asi kune kunze kwenyika zvakare.Uye isu tave kutenderwa nemapurojekiti mazhinji pano -- mupasi rose, kuMiddle East, muchikamu cheSingapore.MuUS, kune musika, watiri kuzovhura munguva pfupi.MuAfrica, tanga tichitumira kunze chigadzirwa ichi.Chigadzirwa chePEX, chatakatangisa, PEX-a.PEX-a ndiyo PEX-yepasi rose uye tekinoroji yepasi rose muPEX, iyo iripo, yanga ichiita zvakanaka.Isu tanga tichiwana mapurojekiti akasiyana muPEX.Isu tanga tichipa PEX nguva dzose muAstral brand pasi petekinoroji tie-up nekambani yekuSpain.Zvizhinji zvezvigadziriso zvavo zvino zvatinogadzira muIndia uye zvinobva kuIndia kubva kumiti yedu pachayo kana kubva kune vatengesi vendarira.Uye isu tinenge tichitarisa padhuze pamuchina uye tekinoroji paPEX-a kugadzira, iyo inofanirwa kushanda zvakare muAstral mukuuya 1 kusvika 1.5 makore.Saka tichange tichigadzira PEX kugadzirwa kwechivanhu muIndia, tichigadzira PEX-a, iyo inogadzirwa pasi rose nemakambani mashoma nekuti zvakaoma zvikuru kugadzira ine tekinoroji yepamusoro, uye sePEX, PEX inowanikwa muPEX-a. , b uye c, asi PEX-a ndicho chigadzirwa chekupedzisira muPEX, icho Astral ichaunza nekuendesa kumusika weIndia uye kugadzira mukati - ichagadzira muIndia munguva pfupi kubva zvino zvichienda mberi.
Tiri kutarisawo mamwe matekinoroji matsva mumapombi ane madziro ane marata maviri, ayo atichaburitsa mumwedzi iri kuuya.Michina yepombi ine madziro ine makora maviri yava kushanda.Isu tinowedzerwa kusvika pakakwirira nekuisa mumwe mutsetse muSitarganj muUttaranchal kuti tipe kuUttaranchal nemapurojekiti mazhinji kuchamhembe.Tine muchina unoshanda kuGhiloth, uri muchina muhombe, unogona kusvika 1,200 mm mudhayamita.Uye isu tine imwe corrugator, ichave ichishanda kubva mwedzi unouya kuHosur.Saka kunze kweSangli, tichave tichigadzira mapaipi ane marara muHosur neGhiloth, ari 2 Astral zvidyarwa.Uye Sitarganj yanga yatove chirimwa uko kuwedzera kwehuwandu uye huwandu hwakapedzwa.
Sangli zvakare -- sarudzo dzakawanda dzakaitwa kuti dziwedzere.Zvimwe zvezvisarudzo zvakaitwa.Mimwe yemichina ine -- yakaodha uye iri munzira.Isu tave kutowedzera nekuisa muchina wekumhanya-mhanya mumapaipi ane marara anoshandiswa kudhiza tambo.Takatowana nzvimbo iri pedyo nenyika yedu, kwatichange tichitora purogiramu yekuwedzera kwepombi yakasvibiswa, iyo inogona kushandiswa pakufambisa mvura yemvura, iyo inokwira kusvika ku2,000 mm dhayamita.Chirongwa ichi chiri kuenderera mberi, uye tichange tichiomesa nechando chirongwa chimwe chetecho mumwedzi mishoma iri kutevera kubva zvino.
Saka kunyangwe bhizinesi ratakapinda gore rapfuura riri munzira yekuwedzera, kukura uye kuunza matekinoroji matsva.Pakazara, mubhizinesi rePiping, Astral yakachengetedza hunyanzvi hwayo hwetekinoroji, ichiunza zvigadzirwa zvitsva, zvigadzirwa zvemazuva ano, kuendesa kumusika, zvichiita kuti zvigadzirwe uye kuunza zvimwe zvigadzirwa zvetekinoroji uye zvigadzirwa zviri nani, asi neakanakisa matekinoroji aripo mumusika. yepasirese uye inochipa nzira yekuiendesa kumutengi weIndia.Ndizvo zvatanga tichiita, uye ticharamba tichizviita.Uye tiri kukura kumberi ikoko.
Iyo - imwe nhau yakanaka ndeyekuti kune kukura kwakanaka uye kuwedzera kunyangwe chirimwa chiri kuKenya, Nairobi.Uye Nairobi, Kenya, chirimwa chiri EBITDA chakanaka.Kurasikirwa nemari kwave kusisina.Uye isu tichaona kukura kwakanaka uye purofiti yakanaka mukuuya 1 kusvika kumakore maviri kubva pachirimwa chimwe chete.Uye kuchave nekuwedzera kuri kuitika muNairobi nevatinoshanda navo ikoko.
Pakazere, mamiriro epombi, kunyanya nekusungirirwa kwezvinhu zveCPVC uye mamiriro ePVC uye mutsara wechigadzirwa uye kusvika uye kusikwa kwetiweki, iyo Astral iri kuita uye iri kuramba ichiita ichabatsira Astral kuzvichengeta pakukura. nzira yezvikamu zvinouya uye makore anouya zvakare.
Kuuya kune bhizinesi reAdhesive.Sezvatakanga tatotaurirana kuti tiri kuita shanduko yenetwork system yedu.Shanduko iyoyo yapera zvachose, zvese.Shanduko itsva iripo.Shanduko itsva yakagadzikana.Kubva pamwedzi 1 yapfuura iri kugadzikana.Tiri kuona kukura.Tiri kuona zviratidzo zvakanaka izvozvo.Isu tiri kuona kuwanda kwakawedzera.Tiri kuona magadzirirwo atakaita bhizinesi reAdhesive muzvikamu.Huni: kune timu yakasiyana, yakasiyana musoro.Maintenance: kune timu yakasiyana, yakasiyana musoro.Kuvaka Makemikari: kune timu yakasiyana uye yakasiyana musoro.Uye izvi zvese zvinounza mhedzisiro, uye ndinovimbisa kuti makota anouya, pachave nemhedzisiro, yakanaka kwazvo, kudivi rekukura uye nedivi rekuvandudza kwemargin, chero gadziriso dzakanakisa dzatinowana.
Panguva imwe cheteyo, takanga tatotaura nezve shanduko iyi uye izvi -- tapedza shanduko yese zvine hushamwari, zvine hungwaru, pasina nyaya, pasina zvikwereti zvakaipa, pasina chero nyaya kubva kumusika.Uye izvi zvichatibatsira kutora iyo Adhesive bhizinesi kune yechipiri nhanho.Isu tiri kutowedzera huwandu pano.Isu tatova nehukuru, saka tichange tichiisa zvigadzirwa zvitsva.Takatoparura yedu RESCUETAPE muIndia, iri kuita zvakanaka, inobva kuUnited States.Isu tine ResiQuick, iyo zvakare iri munzira yekukura, uye kukura chaiko kuri kuitika ikoko.Takatanga hutsinye hwekushambadza misika, izvo zviri kutibatsirawo.Saka zvakazara, bhizinesi riri padivi rakanaka rekukura uye remangwana rebhizinesi.
Kuuya kune bhizinesi reAdhesive muUK, riri kuitawo zvakanaka ipapo.BOND IT yanga ichiita yakanakisa nhamba dzekukura uye manhamba emahombekombe, ayo andinofunga kuti Hiranand bhai achagovera.Saizvozvo, kushanda kweUS kuri zvakare muEBITDA yakanaka uye kune -- hapana kurasikirwa kwemari kuri kuitika kubva mumwedzi mitanhatu yapfuura.Saka izvo zvakare zviri kupa mhedzisiro, yakanaka kwazvo.
Saka zvakazara kuti zvipfupise, mabhizinesi ari kuita zvakanaka, Pipe pamwe neAdhesives.Isu tine yakanaka bandwidth ye manpower, yatakawedzera.Takaenda nemapurogiramu evatengesi, maplumbers, vavezi, izvo zvino zviri kushanda pamapurogiramu uye zvinotungamirirwa ne teknolojia.Isu tiri kuzviwedzera isu pachekinoroji kumberi mubhizinesi.Makemikari echigadzirwa, bandwidth yechikwata, manpower zviwanikwa, isu tiri kuramba tichiwedzera yakakosha manpower sosi nekuti isu tinovada nekukura.Iyo tangi yekufunga iri kukura uye kukura kubva mumwedzi mitanhatu yapfuura, asi funga tangi yave yakakura, uye isu tine yakanaka sosi yevashandi, iyo iri kutibatsira munzira yekukura.
Saka tinokuvimbisa kuti -- muzvikamu nemwedzi iri kuuya kuti uenderere mberi munzira iyi yekukura uye nekupa kukura kwakanaka uye nhamba munzvimbo dziri kuuya.Ndichapa kuna VaSavlani kuti vakutorei munhamba, tobva tapinda nemubvunzo nemhinduro.
Masikati akanaka, mose.Ndatenda, Ritesh, nekutambira iyi con call.Uye inofara Dhanteras kune vese vatori vechikamu, uye ndinoshuvira iwe Diwali inofadza uye inofadza Gore Idzva mberi.
Iye zvino ese ane manhamba muruoko, saka ini ndichakurumidza kuenda kuburikidza nenhamba, uye isu tichatarisa zvakanyanya pachirongwa cheQ&A.Saka senge pane yakasanganiswa hwaro, kana ukaona nhamba dzeQ2, kukura kwemari kuri kutenderera 8.5%, asi kukura kweEBITDA kuri 24.16%.Uye kukura kwePBT ndeye 34.54%.Kuenderera mberi, isu tiri kupa chirevo chekuti kambani yedu yave kutarisa zvakanyanya kumberi, uye margin ichave nani pane yekumusoro mutsara kukura.Uye nekuda kwemutero uyu, kusvetuka kwePAT kungangoita 82%, zvakanyanya nekuda kwekudzikiswa kwemutero wekambani wakaziviswa ne - nguva pfupi yadarika neHurumende yeIndia.
Zvino kuuya kudivi rechikamu.Kukura kwepombi mukota yekupedzisira yaive ingangoita 14% mukukosha mazwi uye ingangoita 17% muhuwandu hwemashoko.Maverengero andakaita 17% ndinogona kukutsanangurirai kuti gore rapfuura takanga tisina huwandu hwehuwandu hweRex.Saka gore rino, tine nhamba dzeRex.Saka tabvisa panhamba yedu yese nhamba yeRex.Gore rapfuura nhamba yaingove yakamira-yega nhamba yeAstral pombi, kwete iyo Rex nhamba.Saka kana ukabvisa iyi 2,823 metric tonne kubva panhamba, yatakaburitsa, iyo 34,620.Kana ukabvisa 2,823, iri kubuda kuita 31,793.Kana ukashanda pa27,250, ingangoita, ichave 17%.Zvakangofanana pahafu yegore, kubva pahuwandu hwekutengesa huwandu hwe66,349, kana tikabvisa hafu yegore Rex nhamba, vhoriyamu nhamba ye5,796 metric tonne, inosvika ku60,553 metric tonne.Kana iwe wakashanda pahuwandu hwegore rapfuura vhoriyamu ye49,726, ichave chaiyo 22% vhoriyamu kukura ex-Rex neiyi nhamba yeRex, isu takatoburitsa.
Saka kukura kweEBITDA mubhizinesi rePiping kwaive kwakatenderedza 36%.Kukura kwePBT kwaive 56%, uye kukura kwePAT nekuda kwekubatsira uku kwemutero, kwaive kusvetuka kukuru, 230%, kubva INR 30 crores kusvika INR 70 crores.
Iye zvino tichiuya kuAdhesive side yebhizinesi, kukura kwemari kwaive kwakashata ne6% muQ2.Izvi zvinodaro nekuti takataurirana mukutaurirana kwedu kwekupedzisira kuti tiri kushandura chimiro.Saka nekuda kweizvozvo, isu tinoziva kudzosa hesitori kubva kune vanogovera - ndine hurombo, kubva kune stockist.Saka ndosaka ichiratidzwa sekudzoka kwekutengesa, uye ndosaka mutsara wepamusoro uchiratidza zvakaipa.Asi kana ukabvisa kudzoka kwekutengesa, inhamba yakanaka.Uye ndicho chimwe chechikonzero chekuti hesiti yakakwira kunze kwePiping side nekuda kwekudzoka kwezvinhu mukota yekupedzisira.
EBITDA yaivewo nekuda kweiyo yakaipa nekuti isu tinofanirwa kutora kurasikirwa pakudzoka nekuti patakabhuka kutengesa iyo nguva purofiti yaivepo.Patakatora kudzoka takaverenga valuation maererano nemutengo.Saka kusvika pamwero iwoyo, margin yanyura.Saka nekuda kweizvozvo, iyo EBITDA isina kunaka ne14%.Asi zvakazara, kana tikaburitsa mhedzisiro iyi, iyo EBITDA nhamba zvakare yakanaka uye iyo yepamusoro mutsara kukura kwakanaka zvakare.Uye kubva pano zvichienda mberi, tiri kuona kuti ikozvino tave kutopedza.Ndinogona kutaura ingangoita 95% yebasa raitwa nekuti zvimwe zvinhu zvisina basa zvinogona kubuda mukota ino, asi zvikasadaro tapedza.Saka kubva pano zvichienda mberi, tiri kuona kuti panofanirwa kuve nekuwedzera kwemargin zvakare uye panofanirwa kuve nekukura kwemutsara wepamusoro zvakare mudivi reAdhesive rebhizinesi.
Iye zvino mamiriro ezvinhu ose ePipe neCPVC nePVC, sezvakatsanangurwa naVaEngineer, ane utano hwakanaka, uye haangogumiri kuAstral chete.Vese vatambi vakarongeka muindasitiri iyi vari kuita zvakanaka.Saka tiri kufanoona kuti kota inouya inofanira kunge iri kukura kune hutano.Asi hongu, pasi, mamiriro acho haasi makuru kudaro.Saka tinofanira kugara takangwarira uye tinofanira kungwarira.Saka ndosaka tisingadi kufungidzira zvisingaite manhamba uye zvese zvekukura.Asi zvakazara, mamiriro acho akanaka.Tiri kuona mamiriro akanaka pasi, kunyanya muchikamu chepombi.Panogona kuve nechikonzero chekuchinja kubva kune isina kurongeka kuenda kudivi rakarongeka.Uye panogona kuve nechikonzero chekumwe kushushikana pane akarongeka mutambi zvakare muchikamu chepombi.Saka izvo zviri kupawo kune vese varipo vakarongeka vatambi pamusika.
Musika uzere nematambudziko, asi mukati mezvipingamupinyi izvi zvakare, sezvakataurwa mukota yapfuura kuti, tarisiro yekambani yedu iri pamhando yepepa rekuenzanisa uye iyo iwe yaunogona kuona zvakanyanya mukota ino zvakare.Kunyangwe paine zvimhingamipinyi zvakawandisa pakuunganidza uye kushaikwa kwemari pamusika, takaedza kumhanyisa kutenderera kwedu kwekuunganidza.Uye iwe unogona kuona gore rapfuura, Gunyana, muunganidzwa waive -- yaigamuchirwa yakanakisa yaive ingangoita INR 280 crores.Zvakare, kuti gore rino, iri INR 275 crores, saka inenge yakazara nhanho pane kudonha, zvisinei, iyo kambani yakakura kusvika kumusoro mutsara ne17%.Saka tiri kupinda mumusika nokungwarira.Isu hatidi kutarisa kukura chete, asi chinangwa chikuru chekambani yedu ndechekuenda kudivi repepa remari uye kunyanya kudivi rinogamuchirwa.Inventory divi zvakare, kana iwe uchiona, hapana kuwedzera kwakawanda mune hesera.Gore rapfuura, yaive INR 445 crores.Gore rino iINR 485 crores.Saka ingangoita 9% kuwedzera mune hesera, zvakare kukura kweanenge 17%.Uye kuwedzera kudiki muzvinyorwa kwaive zvakanyanya nekuda kwekudzoka kwakaitika mubhizinesi reAdhesive.Uye zvakare isu taitarisira kudzokororwa kwemutengo muCPVC kumberi nekuda kweiyo anti-dumping basa.Saka isu takatenga iyo CPVC yakakwira zvishoma pane yedu yakajairika kuti titore mukana wekukwira kwemutengo mumusika kuitira kuti titore mukana wevhoriyamu munzvimbo dziri kuuya zvakare.
Sezvakatsanangurwa naVaEngineer, basa rekuwedzera riri kuenderera mberi zvakanaka.Uye iwe unogona kuona muchikamu chino zvakare, isu tawedzera gumi nemashanu,700 metric tonne muhuwandu.Saka huwandu hwedu, hwaive gore rapfuura, 174,000 metric tonne, iyo yakawedzera kusvika kunosvika mazana maviri nemakumi maviri ezviuru zvemetric tonne.Saka kuwedzera kuri kuenderera mberi ne -- yakatsetseka nzira, uye tiri kuona kuti kumwe kuwedzera kwesimba kuchaitika muhafu yechipiri zvakare, kunyanya muHosur.
Parizvino tichiuya kudivi rechikwereti, isu tine hutano hwakanyanya, uye chikwereti chemubhadharo wemari chingangoita INR 170 crores nekuti isu tine chikwereti chakakwana cheINR 229 crores.Uye isu takagara pamari yekupoterera -- ingangoita INR 59 crores.Saka mambure echikwereti angangoita INR 170 crores, inova chikwereti chisingakodzeri mubalance sheet.
Ndine mibvunzo mishoma yaSandeep bhai kusvika mutsara wemubvunzo waungana.Changamire, mubvunzo wekutanga uri pane kumwe kutengesa.Iwe wakaratidza kugovera rejig yatiri kuita.Saka changamire, ndokumbirawo mupewo ruzivo nezve shanduko mumabasa ekutonga nekuwedzera kutsva kwatakaita.Uye chechipiri, tinoona riini kukura kwemari makumi matatu muzana paQ-on-Q?Ndiwo mubvunzo wangu wekutanga.Mumwe mubvunzo ndewekuti, kana iwe uchigona kuratidza saizi yemusika yemavharuvhu, zvibhorani -- borewell pombi?Uye chekupedzisira, chero chigadziriso chakanyanya pane chigadzirwa chinotangwa kubva ku[ADS] yatakanga tataura nezvayo kare?
Kuuya kuAdhesives, iyo bandwidth yevashandi, kunyanya sezvawakabvunza kuti isu tichazodii - kusikwa kwekusvika kwatokwana.Isu takanga taenda nenzira yekuchengeta vagovanisi vakakura kwazvo uye nekuisa chiteshi chedu chekugovera pasi pavo, saka chiteshi chedu chakange chatogadzirwa uye chichishanda, uye isu takawedzera nhamba dzakati wandei -- muhuwandu hushoma hwevashambadziri vatsva mudunhu rega rega.Uku kwaive kuita kweinenge mwedzi misere kusvika kupfumbamwe.Handiti zvakaitika nehusiku.Isu takatotanga shanduko kubva muna Ndira-Kukadzi wegore rino 2019, uye takaipedza mwedzi wadzoka.Nhasi, kuiswa kwemachaneli uye network yekugovera kune yega yega nyika kwave kuda kupera.Asi zvakadaro, ine simba, iyo yekuwedzera uye yekubvisa inoramba ichiitika nguva dzose.Zvakadaro zvinoitika muPipe nehukuru hwakakura kudaro.Uye tine vatungamiriri venyika vatovepo.Tine dunhu uye tine vanhu vadiki vanoshanda mumusika wekutengesa, varipo.Tine misoro, iri pakati pavo nevakuru vehurumende varipo.Uye network yemanpower yatovepo.Chete padanho reHR, isu takapinza uye tiri mubishi rekupinza vakuru vashoma pamatanho ese.Zvimwe zveizvi inductions zvichaitika mukuuya mazuva gumi kusvika gumi nemashanu kusvika pamwedzi.Hatikwanise kuburitsa chero ruzivo urwu kubva pari zvino.Asi nzira yakarurama yekururamisa, nzira yakarurama yekudzidzira uye chiyero chakanaka uye hutano hwakanaka uye ruzivo rwakarurama, izvo zvinodiwa kuti indasitiri ifambise bandwidth yevashandi iri kuwedzera uye ichawedzerwa mumazuva mashomanana kubva ikozvino.
Kupinda munhamba yako ye30% kukura, izvo zvandisingazoti hazviiti, asi panguva imwe chete ndingati titange tadzokera kune iyo 15%, 20%.Ngatidzikame pachedu.Imi mese munoziva kuti pane zvinonetsa pamusika kumberi kwekutenderera kwemari.Aya madenderedzwa anononoka zvishoma kubva kumakona ese.Uye saka tinoda kukura, asi kwete kukura nezvikwereti zvakakura mumusika.Tinoda kukura nemugero wakakodzera wekugovera, uko kutenderera kwemari yedu kwakachengeteka uye kunoitika sezviri kuitika mumusika wepombi pamwe nemusika wekunamatira nemamwe makambani.
Saka hongu, kurota kwatiri kuti tipinde munhamba idzi dze30 plus, asi zvichatitorera nguva kubva zvino.Uye isu tinoda kusataura pane izvi, inguva yakadii yazvichatora.Asi ichocho chingava chinangwa chedu chokuzadzisa.Asi ini ndinokuvimbisa kuti Adhesive ichapa kukura kwakanaka uye nhamba dzakanaka mumwedzi iri kuuya nekota inouya.
Kuuya kubhizinesi reValve.Bhizinesi revhavha rakakura pasi rose chaizvo.Kune makambani mashoma anogadzira mavharuvhu.Uye handisi kungotaura nezvemavharuvhu, ayo andinoda kupinda mazviri ndeye pombi dzemvura.Bhizinesi reMavharuvhu rakakura zvakanyanya muindasitiri pane pombi dzemvura.Uye tarisiro yedu ndeyokupinda kwete kwete chete pombi dzevharuvhu, asiwo mukugadzira mavharuvhu anodiwa kuindasitiri senge mavharuvhu ebhora, butterfly mavharuvhu uye nezvimwe zvakasiyana.Saka idanho rinotora makore maviri kusvika matatu kuwedzera huwandu uhu hwose.Iyi inzira inoda hunyanzvi hwepamusoro.Iyo nzira inoda hunhu hunoziva zvidzoreso, zvidzoreso zvemhando, kutarisa zvinodzora.Saka bhizinesi reValve chimwe chinhu chinogona kubatwa sebhizinesi repasi rose.Uye isu tinenge tichiendawo mubhizinesi reValve kusvika saizi yakakwira kusvika ku12-inch uye kunyange yakakwira -- mavharuvhu makuru.Saka ndizvo zvakaita chirongwa chedu.Uye ini handikwanise kuverenga nhamba, idzo dzinouya, asi ini ndinogona kuverengera kuchave nekukura kwakanaka, nhamba dzakanaka uye nguva dzose mavharuvhu pasi rose, munoona, kuendesa mariji arinani pane mapaipi uye kunyange mafittings.Saka ndicho chinangwa chedu muValves.
Bhizinesi reBorewell kana Column Pipe, tanga tichikura pamwero wakanaka muvharuvhu (inaudible) ADS.Ehe, isu tinotokora iyo ad hoc kana zvasvika kune ADS.Iyo column, tanga tichikura zvakanaka, ndosaka -- ndosaka takawedzera huwandu, izvo zvatakamanikidza kuendesa kumusika mwedzi mishoma yadarika, uye taifanira kurasikirwa nekurongeka kana nguva yedu yekuendesa yaive gumi. kusvika 15 mazuva.Saka tiri kuzadza gap iri.Uye tiri kuita kuti ive nharaunda nekuti maodzanyemba imusika muhombe wepombi dzeborewell.Saka tiri muHosur.Mari yedu yekufambisa uye nguva yedu yekuita kuti chigadzirwa chiwanikwe chinogona kudzikiswa.Saka ndizvo zviripo.Iye zvino tichiuya kuADS, isu tatova icho chigadzirwa pano, asi tiri kushanda pachikamu ichi chekukohwa mvura, chinonzi [basa] mvura.Uye iyi ndiyo nyaya kwete yeIndia chete asi nyika nhasi.Pasina mubvunzo takawana mvura yakanaka.Saka vanhu vanozokanganwa kwenguva yakati, asi chaizvo kana wawana mvura yakanaka unofanira kuwana goho rakanaka zvakare.Saka kutaura chokwadi, regai ndibude nemimwe yemifananidzo iyi pakukohwa mvura uye nemarongero atiri kuita.Tichange tichikuzivisai izvi -- pamusoro peizvi mune imwe runhare runotevera kana mukupera kwegore.Asi hongu, tiri kushanda panyaya iyi.Uye iyi yakamira, handikwanise kuibata sechikamu chepombi.Iyo yakatwasuka yekukohwa mvura, uye iyo pachayo iri nyaya hombe.Uye kana tangove netsika yakasimba pane izvi, taizodzoka, asi hongu, tiri kushanda neADS pamutsetse wechigadzirwa ichi.
Uye isu tichadzoka kwauri pane zvatiri kuita uye ndezvipi zvirongwa zvedu uye kuti tiri kuzviburitsa mune pamwe 1 kana 2 makota, uye tobva takuzivisa iwe kuti tichazviendesa sei kumberi kubva ipapo pakukura. kuronga uyezve -- nemisika.Saka izvo zvinopedzisa mhinduro yangu.Ndatenda.
Makorokoto pakukura kwakasimba kwePipe.Changamire mubvunzo wangu wekutanga ndewekuti, panguva ino nenguva, tinochengeta here FY '20 nhungamiro yedu?Ndinoziva kuti maererano nekukura kwevhoriyamu isu tine mhando yekuwandisa-muchikamu chekutanga pane izvo zvatakanga taronga pakutanga kwegore pa15%.Asi ini ndiri kukubvunza iwe kubva pakuona kwekaviri-digit kukura muAdhesives?Uye zvakare ndaida kunzwisisa kuti chii chiri kuitika muRex maererano nekuti tiri kudzosa miganho kumashure maererano neyakatsiga-mamiriro mazinga atakanga taisa angangoita gumi nematatu% kusvika 14%?
Ndatenda, Sonali, nemibvunzo yako mitatu, pavari mumubvunzo mumwe.Saka chekutanga, tichiuya kudivi rePipe, Pipe, hongu, tataura 15% mhando yekukura kwevhoriyamu uye hafu yekutanga takaunza ingangoita 22% vhoriyamu.Saka hongu, tiri pamberi pekutungamira kwedu.Asi musika uzere nematambudziko.Asi kubva nhasi, zvinoita sekunge tiri kunyatso kuyambuka gwara redu.Zvakawanda sei zvatichayambuka, nguva ichataura, asi chokwadi chepasi kuti ikozvino mamiriro emusika akanaka.Saka tine tariro, chengeta zvigunwe, tichave tichipfuura kutungamira kwedu kwekutanga kwe15%.
Zvino kuuya kumubvunzo wechipiri waRex wako.Saka Rex ari kuita zvakanaka.Asi hongu, kukura kwevhoriyamu hakusati kwatora zvakawanda nekuda kwezvikonzero zvakawanda, kunyanya chero chatingataure, asi iyo nzvimbo yeSangli yakazara.Nezuro wacho kwakanayawo mvura zhinji ipapo uye mvura yaipinda munzvimbo dzefekitari zvakare.Uye kunyangwe mwedzi wapfuura zvakare, yaive mhando yemamiriro ezvinhu.Saka ticha -- zvino ndinofunga kugadzirisa nyaya dzese idzi.Uye ikozvino tawedzera huwandu kune yedu - kune imwe chirimwa zvakare cheRex chigadzirwa.Saka izvo zvichatibatsira kumberi kwezvinhu, uye izvo zvichatibatsira kukudza vhoriyamu muchikamu chiri kuuya.Asi hongu, pamucheto wepamberi, tadzoka.Tiri kuita muganho une hutano muchikamu ichocho zvakare.Izvo hazvina kuita se6% yemhando yemargin, yaunoona mugore rapfuura, asi isu tiri kuyambuka iyo-madhiji maviri muchikamu muRex zvakare.
Mubvunzo wako wechitatu waive une chekuita neKunamira.Adhesive, zvakare isu tiri - takatotaurirana mumashoko ekutanga kuti tiri kushanda nesimba pane izvozvo.Uye chero kururamisa kwataida kuita, ndinofunga zvinenge zvaitwa.Ndakatoti 95% yecorrection yaitwa.Zvidiki zvinogona kusiiwa, izvo zvinogona kupedzwa muchikamu chino.Saka tine tariro, iwe uchaona iyo Adhesive nhamba ichadzoka zvakare.Kuchiri mangwanani kutaura kuti tichave tichiunza kukura-madhiji maviri pagore rakazara, asi hongu, zvechokwadi, hafu yechipiri ichave yakapetwa kaviri kukura muAdhesive.Tichaedza nepatinogona napo kuvhara kushomeka muQ4, uye takaronga hurongwa zvakare hwekukura kwepamusoro muQ4, asi chengeta zvigunwe nekuti tiri kushanda pamativi akawanda.Sezvo uye kuti nguva ichasvika rini, tichavhura maitiro atiri kuita uye nzira yatiri kuita.Saka isu tine tariro yakanaka, ndinogona kutaura saizvozvo, asi zvakaoma kutaura panguva ino kuti pane gore rose tichakwanisa kuendesa kukura kwenhamba mbiri kana kwete.Asi tiri kuedza nepatinogona napo.Tichaona kuti nzira yatinogona kuendesa zvakanyanya.
Zvakakwana, changamire.Panyaya yeCapEx, INR 125 crores kusvika INR 150 crores.Ndiyo nhamba yatinofanira...
Hongu, ndinofunga tichangogumira kune iyo nhamba.Uye ndinofunga takaita zvingangoita INR 80 crores kana zvakadaro muhafu yekutanga, INR 75 crores, INR 80 crores.Saka tinenge tava mugwara.
Kuyenzerana.Changamire, uye mubvunzo wangu wekupedzisira, zvimwe kubva pakuona kweindasitiri.Changamire, sezvamakataura mukutaura kwekutanga kuti mukati mezvikamu zvishoma zvapfuura tanga tichiona kukura kwakanaka kwemapombi, kunyanya kumberi kwevhoriyamu zvakare.Saka changamire, mungatibatsirewo here kunzwisisa kuti ndeapi masekete ari kuita zvirinani pane mamwe?Uye tiri kuwana kupi traction?Ndeapi maapplication angangove akanyanya kupa mukuwedzera kwevhoriyamu iyi?Ndizvo chete kubva kudivi rangu.
Muchikamu chepombi dzemvura, CPVC pamwe nePVC iri kukura zvakanaka.Saka pane kukura ikoko muchikamu cheplumbing.Zvakare, kune kukura kuri kuitika muzvigadzirwa zvitsva kwatiri zvakare.Kunyanya chikamu cheindasitiri yezvivakwa chiri kukura kwatiri mukudiwa kwemapombi eCPVC nePVC.
Chinhu chimwe chandaida kuwedzera kunze kwekukura kweRex, chaunofanira kuziva, ndechekuti zvigadzirwa zveRex zvinogara zviri pakukura -- kukura kwakaderera mumonsoon.Nokuti zvigadzirwa zvose, izvo Rex anogadzira ndezvemvura uye tsvina, iyo inogara ichiiswa pasi pevhu.Saka unofanira kuchera makomba uye kuisa mapaipi aya.Pasi rose izvi zvinoitika.Kana ukaenda kuEurope, unoenda kuGermany, unoenda kuUnited States, kwose kwose.Kune ese aya mabasa emumigwagwa uye aya mabasa emvura, kunyange muUnited States, anotorwa mumwaka wezhizha.Saka ikozvino iwe uchaona kukura kwakanaka kweRex chigadzirwa kusvika Kurume.Nokuti panguva ino, monsoon yakanga yakareba.Mvura yakaramba ichinaya kwenguva yakati rebei, ndokusaka mabasa mazhinji ezvivakwa aya, ayo ari kuitirwa kushandisa pombi idzi, akange ave kuda kumira.Saka ndanga ndichida kujekesawo pachinhu ichi.
Chokwadi changamire, izvi zvinobatsira.Changamire, uye pamwe, sekuwedzera kweizvi, ndaida kutarisa, tiri kuona here nhungirwa dzakasvibira mukuvaka dzichidzoka?Nekuti iwe wakataura kuti chikamu chepombi chiri kuita zvakanaka kwatiri.Saka ndanga ndichida kunzwisisa, ndiko kuda kutsva kwatiri kutaura pamusoro pekuda kwekutsiva?
Kwete. Izvo zvose zvinotsiva uye zvitsva.Retail level, iri kukura zvakare uye nhanho yemapurojekiti zvakare iri kukura.Asi ini handidi kupinda zvakadzama mukuongorora, izvo zvamuri nani, imi mose makagara kune rimwe divi.Ndeapi kushaya simba mune yese indasitiri muchikamu chepombi, icho chiri kuzobatsira Astral kuenderera mberi nenzira yekukura.Saka ini ndinofunga iwe unoziva zvese zvakagara kune rimwe divi nezve mamiriro eindasitiri, mamiriro epolymer, uye ese aya mamiriro akaiswa pamwechete achange achibatsira kanenge chikamu cheAstral pombi kuchengetedza nzira yekukura mberi.
Mibvunzo miviri.Imwe pane iyi CPVC, uye ichi zvakare chaive chimwe chechikonzero chekuwedzera kwakakura kwemahombekombe mukota ino.Unoona kushomeka kweCPVC kuve kwekupedzisira kwenguva yakareba sei?
Wona chaizvo, ndiri -- handifanire kutaura nezvechinhu chehurumende.Saka regai hurumende isarudze panyaya iyi.
Zvakanaka.Asi rudzii rwenhamba yekufungidzira inofanirwa kupihwa iyo -- ndinoreva kuti yakawanda sei yeCPVC [stock] inobva kuChina neKorea?
Ehe.Ini ndaisazopinda munhamba iyoyo futi nekuti data rekupinza riripo.Asi zvine musoro, hapana ari kuunza kubva kumwedzi miviri, 3 yapfuura nekuti hazvigoneke.Kana iwe ukaunza kunze, unopedzisira wabhadhara 90% yebasa.Chaizvoizvo, mutengo wake wekutenga kunze uri kuwedzera kudarika mutengo wekutengesa wechigadzirwa.
Tarisai, unogona kuita manhamba ekuti kana mukomana achizounza kunze kwenyika, abhadhare 90% yemutero uye pamusoro peiyo 10% muzana pamutero wetsika uye nezvimwe zvese zvinonetsa wobva wagadzira chikamu, wozotengesa, ndofunga ini - - ari kuzoita kurasikirwa mukutengesa mapaipi iwayo.Zvino kana wasvika kunhamba dzeChina neKorea.Kana iwe ukaenda munhoroondo, ivo vaipa India 30% kusvika 40% yeCPVC.40% yezvido zvako zvepamwedzi zvinobuda kunze kweketani yese, zviri pachena kuti zvichagadzira kushomeka.Iyo 40% inobuda kunze kweketani haisi kuzozadzikiswa nevagadziri ve3.Kubva mazviri, imwe chete inoenda mumuenzaniso wekupa rezinesi.Zvakare, pane -- pane--- chinomanikidza ipapo.Ipapo mamwe maviri ane misika yepasi rose zvakare yekuzadzisa.Havana chete musika wekuIndia.Saka zvine musoro, izvi -- pachave nekushomeka kunoramba kuchiitika paCPVC mumamiriro ezvinhu haagadzirise kana kudzikamisa izvo.Saka hatizivi kuti mwedzi mitanhatu, gore 1, makore 1.5, inguva yakawanda sei ichatora kudzikamisa uye kugadzirisa mamiriro acho ezvinhu.Asi nhasi uno kuunza kubva kuChina uye kubva kuKorea hazvigoneki kune chero munhu kunze kwekunge afunga kuve mumusika uye kuita kurasikirwa uye achingopa zvinhu.Anotora runhare kuti abvise mari uye achiri mumusika.Ndiko kufona kwega, kwandisingakwanise kutaura nezvake.
Asi Maulik, nhoroondo inotaura kuti pese panotorwa matanho ekurwisa kurasira chero hurumende muIndia kazhinji anotora makore matatu.Saka -- asi zvakadaro hazvigone kuenderera mberi ne90% yerudzi rwebasa, izvo zvisingaite zvachose.Asi hongu, anti-dumping inofanira kuenderera mberi kweanenge makore matatu.
Uye chechipiri, hurumende ine mutsara wenguva wemwedzi mitanhatu, asi nhoroondo yapfuura yakataurawo kuti haisi nguva yakasungwa.Zvinogona kutotora 6 -- 1 gore zvakare kana makore 1.5 zvakare.Haikwanise kuve mutsara wenguva kuti uuye kusarudzo, asi -- haisi -- inguva yakasungwa, asi unogona kunzwisisa kuti ine sarudzo zvakare yekuenderera mberi nekuferefeta kwayo uye kutora nguva.Hatizivi nezvazvo.Saka isu hatisi nzira kana kusakwanisa kana kwete kunyange zviremera kukuudza nezvazvo.
Zvakanaka.Uye mubvunzo wechipiri, ndinogara ndichikubvunza, uye izvi zvine chekuita nemusika usina kurongeka.Saka zvichienzaniswa neyekupedzisira patakataura na (isinganzwike) ine misika mikuru isina kurongeka [inonyura] mberi nekuda kweakasiyana-siyana nyaya dzemari kana chero chaunoda?Uye ikozvino CPVC iri kuzokuvadza zvakare vamwe vevatambi vasina kurongeka.
Sezviri pachena, vasina kurongeka vachava nezvinetso zvavo vamene.Uye musika usina kurongeka unochengeta mapolymer akasiyana uye neCPVC.Rinenge rine matambudziko aro.Uye nekutenderera kwemari kuri kudererawo mumusika.Saka haisi pamberi imwe chete.Iwe unogona kufungidzira kune akawanda mauto akarwiswa panguva imwe chete.Saka tinogona kutaura kuti ingori kutanga kwerwendo, kureba kuenda, nekuti munoziva kuti saizi isina kurongeka munyika ino ingangoita 35%, 40%.Saka INR 30,000 crores ye[chidimbu] indasitiri, 35%, 40% inoshanda kuve INR zviuru gumi zvemacrores, INR zviuru gumi nezviviri zvemaindasitiri.Saka zvichatora nguva yazvo.Asi nhasi, mamiriro ezvinhu ndeekuti, havasi vanhu vasina kurongeka chete vari kutambura, kunyangwe vatambi vakarongeka vari kusangana nematambudziko mazhinji.Saka zvakanyanya kuoma kutaura maererano, kana kuverengera maererano nezana, asi hongu, pasi, zvinhu zviri kuchinja, asi hazvisi zvakanyanya kuoneka zvakajeka nekuti musika wese mamiriro zvakare anononoka.Saka kuenda kumberi, ndinofunga izvi -- zvichave zvakanyanya uye zvinogona kuoneka zvakajeka, pamwe zvishoma zvishoma pasi pemutsara, zvakanyanya, zvakaoma kutaura rinhi.Asi hongu, makore mana kusvika mashanu anotevera, tiri kuona kuti shanduko yakakura inofanira kuitika kudivi rakarongeka.
Zvakanaka.Uye mubvunzo wekupedzisira kwauri, Hiranand bhai.Sorry kana ndashaya number iyoyo.Chii chaive mupiro weRex mumari yekota ino?Kana -- uye chii CapEx yatakaita kwehafu yekutanga?Uye chii chingava chikamu chechipiri?
Saka senge, ndinofunga, INR 75 crores, INR 80 crores isu takashandisa muhafu yekutanga muCapEx.Uye mune izvo, michina mishoma yaienderana neRex, iyo Sandeep bhai akange atotsanangura kuti 1 muchina muGhiloth uye 1 muchina muSitarganj uye mumwe ndinofunga INR 50 crores kana zvakadaro -- INR 50 crores kusvika INR 60 crores CapEx inogona. uuyewo muchikamu chechipiri, zvimwe zvishoma zvakare.Isu tiri kuisa ingangoita yekuwedzera INR 20 crores padenga rezuva zvakare, uko isu takatsvaga mubhadharo weiyo INR 20 crores ichave ingangoita 33% pagore.Saka isingasviki 3 makore payback iripo kune iyo mhando yekurongeka.Saka takagovera INR 20 crores yedivi resolar.Iyo bhenefiti yauchawana munhamba yeQ4 nekuti tiri kunanga kupedzisa - chimwe chikamu chinogona kupera muna Mbudzi uye zvimwe zvese zvichapedzwa muna Zvita.Saka Q1 - Q4 zvichienda mberi, iyi bhenefiti inoenderana nezuva icharatidzwa muhuwandu, uye iwe uchaona kuti kudzikisira kwakawanda kuchavepo mumutengo wemagetsi.Nekuti 100% isu tiri kuenda kuzvidyira.Uye chimwe chikamu chichaenda kuGhiroti - ichi chirimwa chekumabvazuva uye nemimwe michina ichaiswa muHosur zvakare.Saka inenge INR 50 crores kusvika INR 60 crores yatakaronga, pamwe kunge INR 10 crores plus/minus inogonawo kuitika.
Ini handina nhamba chaiyo izvozvi nekuti yakabatanidzwa neAstral, asi inofanirwa kunge iri kumwe kunenge INR 37 crores kana zvakadaro.Pamwe ndiri kufungidzira kuti, pamwe INR 1 crore kana INR 2 crores pano nepapo.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [29]
Yakanaka kwazvo seti yenhamba, kune iyo makorokoto.Mubvunzo wangu wekutanga ndewekuti huwandu hwese hwawakanga wapa pombi hunosvika zviuru zviviri nemazana maviri nemakumi maviri nematatu, saka huwandu hweRex hwakadii izvozvi?
Zvakanaka.Rex, ndinofanira kutarisa.Kwegore rapfuura, yanga iri zviuru makumi maviri nezviviri chimwe chinhu uyezve imwe zviuru zvishanu, zviuru zvishanu tichazowana, saka ingangoita zviuru makumi matatu metric tonne.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [31]
Saka kupera kwegore kuchave mamwe 5,000, 7,000 metric tonnes achawedzerwa, asi gore rinotevera kusvetuka kukuru kuchawedzerwa nekuda kwekumabvazuva.Saka pakutanga, takatungamira kuti kana kumabvazuva kwapera.Kugona kwedu kuchaita 2,50,000 metric tonnes.Ndinofunga zvinogona kuva zvishoma zvakare.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [33]
Uye paChisimbiso nhamba dzeIT, changamire.Unogona here kupa mamwe mavara pane izvo zvakare, senge -- nekuti yakazara Adhesives isu tinogona kuona, asi sei paChisimbiso IT kuita kwekota?
Saka kuita kwese kweSeal IT kwaive kwakanaka.Vakaendesa kukura kwemari nguva dzose kunosvika 5%, 6% mukota ino.Uye panguva yerupiyamu, ini handinyatso kunyatsoziva iyo nhamba, asi nguva dzose mari yaive yakatenderedza 5%, 6% rudzi rwekukura, uye vakaendesa iyo-madhiji maviri EBITDA margin zvakare.Saka takatarisa kuUK mamiriro, kana kukura kweGDP kusingaite 1%, gore rino isu tiri kutarisira kuti ivo vanofanirwa kunge vachiunza zvishoma-madhiji maviri kukura kwatiri uye kaviri-manhamba EBITDA muganho zvakare.EBITDA divi, ivo vari kugara vachivandudza.Uye nemupiro weiyi RESCUETAPE ichawedzera, ipapo kuwedzera kwemargin kuchave ikoko munzvimbo dzinouya.Ndizvo zvatiri kunanga.Saka ikozvino Resinova atotanga kutengesa RESCUETAPE.Uye munguva pfupi, tiri kuzovhura iyo RESCUETAPE muAstral chiteshi chedu zvakare.Saka aya ndiwo chaiwo, akanyanya-ekupedzisira-ekupedzisira magidhi zvigadzirwa.Saka kana mupiro mudiki uchiwedzera, ipapo EBITDA ichapfura kumusoro.Saka chengeta chigunwe chakayambuka iyo iri kuuya kota, iyo Chisimbiso IT inofanira kuendesa nhamba yakanaka.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [35]
Saka ini ndinofunga izvozvi, vari kuita zvingangoita USD 700,000 kusvika USD 800,000 kota muUS dollar mazwi, izvo zvichawedzera mukota inouya.Saka chinangwa chedu ndechekuti angangoita USD 1.5 miriyoni, ivo vanofanirwa kusvika mune pamwe 1 gore kana 1.5 makore pasi pemutsara, zvishoma.
Praveen Sahay, Edelweiss Securities Ltd., Dhipatimendi Rokutsvagisa - Mubatsiri VP weEquity Research & Research Analyst [37]
Ehe.Ini ndinofunga kumusoro-kwe-art R&D uye application centre.Zvirongwa zvaive zvatovepo.Uye isu taiva -- nekuda kweCapEx cycles yatakanga taisa iyo, asi ikozvino tinenge tichitanga basa.Ikozvino tichange tichive neimwe yepasirese state-of-art centre yeR&D mubhizimusi rePolymers.Iyo Adhesive ine R&D nzvimbo yayo.Uye ipapo, isu tiri kuisawo nzvimbo yekunyorera apo pane imwe chete kuenda, vashoma mazana maviri nemakumi mashanu kusvika mazana matatu ekupedzisira-vashandisi vanogona kudzidziswa.Vanachipangamazano vanogona kuunzwa uye nehunyanzvi kutsanangura chigadzirwa.Kudzidziswa kwemaoko kunogona kuitwa.Panogona kuve neauditorium yekuti vanhu vafambe nemuzvinhu.Uye panguva imwecheteyo, tinogona kuita kosi zvakare inomhanya ipapo.Saka izvi zvichave -- basa richatanga munguva pfupi.Tine ivhu riri pedyo nechirimwa chedu [plantage].Tine zvirongwa zvakagadzirira.Tine zvese zviri panzvimbo.Ndinofunga tichazarura -- uye tichatanga chirongwa ichi.
Uye chechipiri, ini ndakatotaura kuti isu tave kupa tarisiro kune renewable simba zvakare.Kubva pane zvakatipoteredza maonero zvakare yakanakira nyika zvakare.Uye panguva imwecheteyo, yakanakira kambani zvakare nekuti kubhadharwa kwerudzi urwu rwekudyara kunokurumidza.Kufanana nedenga remba, ndakatotaura kuti iri less than 3 years payback.Uye tiri kuronga kugovera imwe mari kudivi iro, pamwe gore rinouya nekuti tiri kutarisira kuyerera kukuru kwemari mugore rinotevera.Ndatokutsanangurira kuti chikwereti chedu hachisi INR 170 crores.Uye kukura kuri kuita bhizinesi uye nzira yekuyerera kwemari kukambani, tinovimba gore rinouya tiri kutarisira kusvetuka kukuru mukuyerera kwemari.Saka isu tinokwanisa kugovera imwe mari mudivi rinodzokororwa, kunyanya yekuzvishandisa.Hatidi kutengesa imwe unit kune grid.Chero zvatichaita iyo CapEx, iyo ichave yekuzvidyira.Saka kunze kwedenga remba zvakare, isu takashanda kuti mubhadharo ungangoita makore matatu kusvika 3.5 chete.Saka ihwo hutano hunodzoka muchikamu ichocho zvakare.Saka tichauya nenhamba chaidzo muchirongwa kana tichinge tavhara gore rino uye isu [tichadyara] kubuda kwedu kwemahara kwemari, izvo zvinowanikwa kwatiri.Muanalyst tichasangana gore rinouya, panguva iyoyo, tichakupai nhamba.
Ehe.Changamire, ndine mibvunzo miviri.Imwe ndeyekuti, munhu anofanira kutarisa sei kubata kwevanosimudzira mukambani?Ndiyo--ndiyo imwe, kana uchikwanisa kutsanangura zvishoma ipapo?Uye chechipiri, kana munhu akatarisa mari yekushanda pamabhizinesi-asina kumira-mira, ayo anozoratidza kumwe kutengesa, yakakwira zvishoma kubva munaKurume kubva pamazuva makumi mapfumbamwe kusvika kumazuva zana negumi nemaviri.Munhu anofanira kutarisa sei mutsara wemaitiro pamusoro apa?
Saka Ritesh, isu takatojekesa kutaurirana kwekutanga kuti hesiti uye zvese muAdhesive side uye zvese zvakwira zvakanyanya nekuda kwekudzoka kwekutengesa kwakaitika.Saka izvo zvichagadziriswa muQ4.Uye ndinovimba, kamwe -- urombo, Q3, nekuti Q3, hapazove nebalance sheet pane yeruzhinji domain, asi isu tichagovera ese makiyi manhamba muQ3 con call.Saka kana iyo nhamba yeQ4 ichinge yabuda, yakazara gore rekuyeresa, iwe uchaona kuti pachave nekudonha kwakanyanya muyero yezvinyorwa zvakare nekuti aya ndiwo epamusoro ezvinyorwa, izvo zvisiri - isu tiri kuronga kugara nesu nekuda kwe mutengo uyu unokwira muCPVC kumberi uye nekuda kwekudzoka uku kwezvinhu muAdhesive side.Ndicho chikonzero iwe uri kuona inventory yakakwirira.Asi zvakadaro zvichienzaniswa nekukura kwakaitwa nekambani muhafu yekutanga, haina kukwirira.Saka handifunge kuti pachave nekushushikana mukati -- [iyo, handiti]?Ingave Adhesive side kana iyo Pipe divi mune yekushanda capital kutenderera.
Kechipiri, nekuda kwekushomeka kwemari mumusika, tiri kuwana mutero wakanaka padivi rekubhadhara mari.Saka dzimwe nguva, iwe uchaona kuti mamwe mazuva ekukwereta achauya, asi ndiro zano rekambani rekuti kana isu tichiwana kuderedzwa kwakanaka pamari, isu hatina dambudziko nemari.Uye vemabhangi vakagadzirira kutipa mari pa6.5% nhasi.Saka isu tichave takasununguka kutora mukana iwoyo nekuvandudza EBITDA yedu.Saka ini handisi kuona chero dambudziko munzvimbo kusvika kune chero nhanho mukushanda capital kutenderera.
Zvino kuuya kumubvunzo wako wekusimudzira kubata.Yatova paruzhinji.Chero Sandeep bhai akatengesa, izvo zvakare zviri munharaunda yeruzhinji.Uye hapana shanduko kunze kweiyo.
Changamire, mubvunzo wangu uri pakuti panogona kuve nekuwedzerwa here kubva kune vanosimudzira?Ndiri kungo kumbira kuti ndione kuti hapana kuchinjika.
Zvechokwadi, zvachose 0 mumwedzi mitanhatu kusvika ku12 inotevera, zvishoma, zvachose 0. Nehunyanzvi, tiri kutaurirana.
Changamire, mungataure here kuti PVC neCPVC resin mitengo dzakafamba sei panguva yeQ2?Uye maitiro avakaita kusvika parizvino muQ3?
Saka seQ2, vese vaive parwendo rwepamusoro.Saka CPVC yakwirawo nekuda kweiyo anti-dumping basa.Uye zvakafanana, PVC yaivewo padanho repamusoro muQ2.Uye Q3 zvichienda mberi, PVC yatanga kudonha zvino.Yekutanga kucheka yaive INR 3 pakg neReliance mumwedzi waGumiguru.Uye CPVC, isu hationi kuchave nekudonha mumutengo, asi zvakanyanya kana zvishoma, ikozvino kubva pano zvichienda mberi, inofanira kuchengetedzwa.Isu hatisi kuona kukwira kumusoro kudivi reCPVC mumusika.
Yakanyanya kushomeka nzvimbo inowanikwa mumadonhwe uye pamwe INR 1 kana INR 2, inogona -- yakawanda, inogona kunge yakachekwa, asi zvinopfuura izvo isu hatizvione.Nekuti ikozvino mwedzi wemwaka uchatanga.
Kutenderera chaiko.Nekuda kwe monsoon uye nguva yemafarosi, pane kuderera zvishoma mune zvimwe zvinodiwa.Uye handisi kuona mamwe madonhwe, chaizvo.Zvakare, ichakwira kumusoro.
Zvakanaka, chokwadi.Uye changamire, mumapaipi enyu, EBITDA yakashumwa muQ2, pane here chikamu chezvekuwana?Uye kana hongu, unogona kuenzanisa zvakafanana?
Zvakanaka.Saka yakawanda yeEBITDA margin kunatsiridzwa kwauya zvakanyanya nekuda kwekushandisa leverage mabhenefiti uye Rex EBITDA yanga ichivandudza.Ndiyo kiyi yekutora, handiti?
Ehe, 2 zvinhu, rex kuvandudzwa zvakare uye iwe unogona kutaura kugadzirisa kwekuziva.Nekuti isu tawedzera mutengo weCPVC ne8%.Saka ndicho chikonzero chikuru mune izvozvo.Haisi kungogumira kuBhizinesi rePipe.Kunyangwe iwe ukaona iyo Adhesive bhizinesi zvakare, kune zvakare gross margin yavandudza.Kana iwe ukabvisa - kana iwe ukabvisa iyo nhamba kubva mukubatanidzwa - ivo vanoenda kune iyo Standalone Pipe bhizinesi, uchaona paine kuvandudzwa muAdhesive bhizinesi gross margin zvakare.Asi chaizvo, haina kuratidzwa muEBITDA nekuti pakanga paine kudonha mumutsetse wepamusoro.Saka nekuda kwaizvozvo, mari yangu yese yakwira.Uye ingave mari yemushandi, ingave iri mari yekutonga, ingave imwe mari yekushandiswa.Asi ikozvino kana hafu yechipiri ichinge -- kukura kwevhoriyamu kuchatanga uye kukura kwemutsara wepamusoro kunotanga kuuya, ipapo hupfumi hwese hwehukuru huchave huripo.Saka ndine chivimbo chekuti muchikamu chiri kuuya, bhizinesi reAdhesive richange richive nekukura kwakanaka kweEBITDA nekuti gross yakawedzera muhafu yekutanga, asi haina kuratidzwa mu -- shanduko muEBITDA nekuda kweiyo yakaderera base. nekuda kwekukura kwemutsetse wepamusoro.
Ndatenda zvikuru nemhinduro dzako uye makorokoto nenhamba yakanaka uye ndinoshuvira iwe nechikwata chako Diwali ine mufaro mukuru.
Makorokoto nokuda kwenhamba dzakanaka.Saka mubvunzo wangu uri maererano -- pane here hutsva hutsva hweCPVC pombi inouya muindasitiri?
Ini handizvizive ini.Pamwe mutambi aripo anogona kunge ari kuwedzera huwandu, asi zvakanyanya -- ini handisati ndaziva kuti mutambi mutsva ari kuwedzera.Vanhu vazhinji vari kutaura, asi handifunge kuti ndine nhau dzakatendeseka neni dzekuti mumwe munhu arikuuya nehunyanzvi hwakanyanya kana chii.Mutambi aripo anogona kunge ari kuwedzera huwandu.
Zvakanaka.Uye changamire tiri kuona chero rudzi rwekutanga chiratidzo chekubatsirwa kubva kuhurumende, mishoni yeHar Ghar Jal?
Zvichakadaro, iyo policy iri kuitwa padanho rehurumende.Havana kuzivisa gwaro rekupedzisira remitemo kana chimwe chinhu, maitirwo avanoda kuita, asi iwoyo unogona kuve mukana wakakura kwazvo.Asi kubva nhasi, handifunge chero nhamba iripo nesu.Kana muine varume, ndokumbirawo mugoverane neni.Asi ndinofunga kuti vachiri kushanda.
Zvakanaka.Uye changamire, pekupedzisira, nezve kutsiva misika.Saka chii chingave chiri mukana mumisika yekutsiva?
Saka zvakadaro kutsiva kuri kuitika.Nekuti kana iwe ukaona chero chivakwa, chiri pazasi - iyo CPVC yakatanga munyika muna 1999, saka angangoita makore makumi maviri kana zvakadaro.Iwe unotora chero chivako makore gumi nemashanu pamwe chete, ichange iine pombi yesimbi chete mumvura inopisa yekushandisa.Saka mukana uchiripo.Zvimwe zvitsva kune bhizinesi iri.
Saka chingave chikamu chei changamire, chichiripo, chisati chatsiviwa?Pane here (isinganzwiki)?
Zvakaoma kwazvo kuwana iyo nhamba nekuti hapana tsvakiridzo iri kuitwa pamusika wekutsiva nemumwe wevanoongorora mamiriro ezvinhu.At least handina number dzakatendeseka dzandinga taure newe.
Madzimai nevarume, ndiwo waive mubvunzo wekupedzisira.Ini zvino ndinopa musangano kuna VaRitesh Shah kuti vape mhinduro.Ndinokutendai, uye kwamuri, changamire.
Hongu, ndatenda, Aman.Hiranand changamire, Sandeep bhai, mune chero mazwi ekuvhara?Tinogona kuvhara iyo post.
Ndatenda, Ritesh, zvakare nekutitsigira.Uye ndinokutendai kune vese vatori vechikamu nekutora chikamu mukufona, uye ndinokushuvirai mese Diwali inofara uye neGore Nyowani pamberi.
Ndatenda mose, uye ndinotarisira zvakare kubatana nemi mushure memwedzi mitatu kubva zvino.Uye ivai neDiwali yakanaka uye mazororo anofara zvakare.Ndatenda, munhu wese, uye ndinokutendai, Ritesh.
Madzimai nevarume, vakamirira Investec Capital Services inopedzisa musangano uyu.Maita basa nekubatana nesu, uye munogona kuzodzima mitsara yenyu.
Nguva yekutumira: Nov-04-2019