Aug 10, 2019 (Thomson StreetEvents) -- Okulotshiweyo Okuhleliwe kwe-Astral Poly Technik Ltd ikholi yenkomfa yezinzuzo noma isethulo ngoLwesihlanu, Agasti 2, 2019 ngo-12:30:00pm GMT
Ngiyabonga.Sawubona, nonke.Egameni le-ICICI Securities, siyanamukela nonke ku-Q1 FY '20 Earnings Conference Call ye-Astral Poly Technik Limited.Sinabo abaphathi abamelwe nguMnu. Sandeep Engineer, uMqondisi Ophethe;kanye noMnu. Hiranand Savlani, i-CFO yenkampani, ukuze baxoxe ngokusebenza kwe-Q1.
Siyabonga, Nehal bhai, futhi ngiyabonga, nonke, ngokujoyina le kholi yemiphumela ye-Q1.Imiphumela ye-Q1 inawe futhi ngithemba wena -- wonke umuntu udlule ezinambeni.
Ngizokufingqa ngokwenzeka ngempela ku-Q1 ebhizinisini lamapayipi kanye nebhizinisi lokunamathisela.Ukuqala ngokunwetshwa kweGhiloth, eyayiqediwe futhi isitshalo saseGhiloth sisanda kuzinza.Futhi ku-Q1, imboni ye-Ghiloth manje isingu-60% -- isebenza ngo-60%.Ukuthunyelwa kuqalwa enyakatho, futhi sivule nokuthunyelwa empumalanga kusuka esitshalweni sase-Ghiloth.Imboni yaseGhiloth nayo iyanwetshwa.Sinothayela, manje osesikhumulweni sase-Ghiloth esingamamilimitha angu-800 ububanzi, esivukile futhi sisebenza kusukela ngenyanga edlule.
Siqala futhi ukukhiqizwa kweminye imikhiqizo yamapayipi evela embonini ye-Ghiloth, ikakhulukazi emkhakheni wezolimo, umkhakha wamakholomu kanye naku-CPVC, umkhakha wokufafaza umlilo.Ngakho imboni ye-Ghiloth izonwetshwa, nakulo nyaka lapho amakhono ehlose ukusebenza ngendlela esebenza kahle kakhulu.
Embonini yakwa-Hosur, imboni -- futhi indawo entsha enwetshiwe iyasebenza, amathani angu-5,000 engeziwe ayasebenza.Futhi amanye amakhono nemishini iyeza futhi izosebenza ngokuphelele kule kota.I-Hosur iphinde yamukela i-corrugator kule nyanga, nayo ezosebenza kule kota.Ngakho-ke ukwanda kuyaqhubeka eHosur.Amapayipi kathayela azoqalwa e-Hosur.Futhi manje sinendawo yokugcina impahla engamamitha-skwele angu-3 lakh -- esondla imakethe eseningizimu, nayo esizinze ngokuphelele futhi iyasebenza ukuze yondle yonke imakethe yaseningizimu.
Sithole umhlaba owabelwe uhulumeni wase-Odisha e-Odisha.Umhlaba uthathwe yithi.Izinhlelo ze-Odisha etshaliwe empumalanga sezilungisiwe futhi sezilungile, futhi sizobe siqala umsebenzi wokwakha kule kota.Ngakho-ke sizobe sesilungile ngomthamo we-Odisha ngezimali ezilandelayo, ezizosebenza futhi emalini elandelayo.
U-Rex uphinde wathola umshini omusha e-Sitarganj noma ipayipi likathayela kule kota, nawo osebenzayo futhi waqala ukuphakela imakethe.Konke lokho -- lowo mshini wenza ingxenye enguthayela ifike ku-600 mm.
Ngakho-ke manje ngepayipi likathayela, i-Astral ingahlinzeka kusukela enyakatho iye enyakatho -- nezimakethe ezisenyakatho, kuze kufike e-Uttaranchal kanye nezimakethe -- phezulu enyakatho, eduze ne-Himalayas.USitarganj uzokwenza lokhu.I-Ghiloth nayo inothayela ukuze ihlinzeke ngeDelhi nezindawo ezizungezile kanye nengxenye yePunjab, Haryana.I-Hosur inomshini ozobe uhlinzeka ngamapayipi kathayela emakethe eseningizimu.Futhi kakade, kukhona ukunwetshwa, futhi imishini yokulinganisa iyeza embonini ye-Rex, nayo ezoqhubeka nokukhula.
U-Rex udlule ezinseleleni ezithile kule kota, ikakhulukazi i-SAP yaqaliswa.Ukuhlanganiswa ne-Astral kwenzeka.Ngakho-ke kufanele sihambe futhi sishintshe ama-oda kanye nencwadi yoku-oda kusuka ku-Rex kuya ku-Astral.Ezinye zezinkontileka nazo bezidinga -- zidinga ukubuyekezwa.Ngakho-ke kule kota, sibhekane nalezi zinselelo ezi-2 e-Rex, lapho silahlekelwe khona ukuthengisa okusebenzayo okucishe kube yinyanga.
Ku-Q3 ne-Q2, zonke lezi zinselelo sezinqotshiwe.Umthamo omusha wengeziwe ebhizinisini likathayela.Futhi izinombolo zizoqhubeka zikhula ku-Q2 naku-Q3 yebhizinisi likathayela, okuyibhizinisi elisha le-Astral.
Siphinde -- siphinde sathola umhlaba e-Sangli, lapho sizokwandisa umthamo ngonyaka ozayo nakulo nyaka embonini ye-Sangli, yamapayipi kathayela namanye amapayipi ahlukahlukene, enziwa yi-Astral e-Ahmedabad nezinye izimboni nazo zizokwakhiwa. I-Sangli izophakela le makethe ye-Central India kusukela kuleyo ndawo.
I-Astral iphinde yaqhubeka nokushintsha indlela yayo yokwenza ibhizinisi ezingxenyeni ezihlukene.Manje sinabasabalalisi cishe esizinda se-PAN India semikhiqizo yethu yezolimo, emikhiqizweni yethu yekholomu, emikhiqizweni yethu ye-casing, imikhiqizo yamapayipi kagesi, yemikhiqizo yamapayipi.Ngisho nasemkhiqizweni wamapayipi, sinezigaba ezi-2.Uphiko lwe-PAN lunakekela amaphrojekthi.Ihambisana ngqo namaphrojekthi kanye nomkhiqizo omusha.Esinye isigaba sibhekene nesiteshi sokudayisa.
Uhlelo lwethu lwamapayipi olunomsindo ophansi nalo luyakhula futhi luzuza isabelo esihle semakethe ohlelweni lokudonsa amanzi.Siphinde sithole amaphrojekthi ngokulinganayo epayipi lethu le-PEX, elethulwe ezinyangeni ezimbalwa emuva emakethe.Futhi njalo, lawa maphrojekthi eza inyanga nenyanga ebhizinisini le-PEX.Ngakho-ke ibhizinisi le-PEX likhula kancane kancane futhi lizinza emakethe yaseNdiya.
Isifafazi somlilo sihamba ngesivinini esihle, siyakhula, futhi sithola amaphrojekthi amahle endaweni yokuchela umlilo, futhi -- namuhla, -- enye yezinselelo ezinkulu kahulumeni zokubhekana nezinkinga zezingozi zomlilo ezenzekayo. ezweni lonke, ngokuletha imikhiqizo yesimanje ebhizinisini.
Ngakho-ke sekukonke, ukubiza ibhizinisi lamapayipi, i-Astral inikeze izinombolo ezinhle, ukukhula okuhle ku-Q1.Izitshalo zethu zihamba ngendlela ehleliwe, njengesakhiwo -- esibekwe kuwe njengoba kuxoxwe ngakho emhlanganweni wethu womhlaziyi -- njengoba kwethulwe emhlanganweni womhlaziyi, futhi sihamba ngendlela efanele emakethe.Futhi sizoqhubeka sikhula ezingeni lesiqondiso esisinikezile kukho kokubili ukukhula kwebhizinisi, ukukhula kwamathani kanye nokwandisa i-EBITDA yethu kanye nokugcina i-EBITDA.
Ukuza e-Resinova, njengoba sasiqondise, sidlula oguqukweni lwesakhiwo sisuka ohlelweni lwe-3-Tier lokusabalalisa siye ohlelweni lokumaketha lwe-2-Tier.Okuningi kwalokhu kulungiswa kuphothulwe ku-Q1 futhi kwasungulwa futhi kuqhubeka kahle nezimo zezabelo zemakethe.Ukulungiswa okumbalwa kusazokwenziwa, okuzoqedwa ku-Q2.Futhi i-Q2 ukuya phambili, sizobona ukukhula okuhle kwekota ngekota kuleli bhizinisi.
Senze ukulungisa okufanayo lapha futhi ukuze kube nokusabalalisa kwemikhiqizo ekhethekile, ikakhulukazi ukhuni kanye nomkhiqizo weglue omhlophe, ukuhlukaniswa kwamakhemikhali okwakha, uphiko lwesondlo, futhi kokubili okudayisa namaphrojekthi.Ngakho-ke lawa maqembu kanye nalesi siteshi sokusabalalisa, esisivuselelayo siqala ukusimama, sihamba emgudwini ofanele, izikhombisi-ndlela ezifanele.Futhi sizobe sinikeza izinombolo nemiphumela ngokwesiqondiso, futhi njengoba i-EBITDA izonwetshwa futhi inakekelwe njengokwesiqondiso.
Ngokuza ku-BOND IT e-UK, e-US, bobabili benze kahle kakhulu.I-UK yenza ukukhula okunamadijithi amabili.I-EBITDA inwetshiwe.Ngokufanayo, i-US eyadlula ezinseleleni eziningi ngemuva kokutholwa isixazululwe kahle.Akutholi ukukhula e-United States kuphela, kodwa ngisho nathi manje sesithengisa umkhiqizo e-UK Futhi -- nokuthi sethule i-RESCUETAPE e-India, futhi kuyimpumelelo enkulu kithi.Sesithengise cishe iziqukathi ezi-3 ezinyangeni ezi-4 ezedlule, futhi ezinye iziqukathi zisendleleni yokuzophakela imakethe yaseNdiya.Ngakho-ke i-RESCUETAPE e-India izoba yimpumelelo enkulu.Futhi ibhizinisi lase-UK nelase-US lizoqhubeka likhula ngale mikhiqizo.Futhi sengeza imikhiqizo embalwa emakethe yase-United States ezothengiswa, ezokhiqizwa embonini yase-UK.
I-Kenya nayo yenza kahle kakhulu kusukela kumakota ambalwa edlule.Izinombolo ziyakhula zombili futhi amamajini ayakhula.Futhi silindele ukuthi leyo nkampani nayo isebenze njengokuqondiswa kanye nezinombolo ezinhle futhi iphume kukho konke ukulahlekelwa yile mali kusukela ngekota nekota.
Isimo semakethe sinezinselelo zaso ezivela emazingeni ahlukahlukene.Kodwa futhi, ukwengeza i-Astral kuzohambisana nezinombolo zayo, ngokukhula kwayo, nemajini yayo kanye nokwandisa kwayo -- kokubili ebhizinisini lamapayipi nezinamatheliso ngekota-on-quarter yale mali.Futhi engeza imikhiqizo eyengeziwe, engeza inethiwekhi yokusabalalisa eyengeziwe, engeza amaphuzu amaningi okulethwa, engeza amakhono engeziwe futhi wengeze amakhemikhali ezinto zokunamathisela kanye nezigaba zemikhiqizo emisha zizokwengezwa engxenyeni yamapayipi futhi kule Q2, Q3 kanye ne-Q4.
Ngalokhu, sizothatha okwengeziwe ngebhizinisi ku-Q&A yethu, isikhathi sokuphendula imibuzo.Ngakho-ke bengizodlulisela ucingo kuMnu. Savlani ukuze akudlulisele ezinambeni.
Sawubona, nonke.Siyakwamukela ocingweni lwezinombolo ze-Q1.Uma izinombolo zikuwe, ngiphinda ngiphinda izinombolo ezimbalwa, bese sizogxumela kuseshini ye-Q&A.
Inombolo emele yodwa, inombolo yepayipi ikhule isuka ku-INR 344 crores top line to INR 472 crores top line, ibhalise ukukhula kwe-37%.Ukukhula ngo-37% kungenxa yokuthi izinombolo zihlanganiswe ne-Rex.Ngakho ngonyaka odlule i-Q1, u-Rex wayengekho.Ngakho kule kota, uRex ukhona.Ngakho-ke ngenxa yalokho, kukhona ukweqa okukhulu okubonayo ku-37%.Ngakho-ke uRex wayelethe ama-INR 40 crores kulo mugqa ophezulu.Ngakho-ke uma sisusa inombolo ye-Rex kule nombolo ezimele yodwa, lapho-ke ukukhula kwebhizinisi lokusebenzisa amapayipi okuzimele kucishe kube ngu-26% ngokwemibandela yenani.
Mayelana nesikhathi sevolumu, u-Rex wayelethe umthamo wokuthengisa wamathani angama-metric angama-2,973.Uma ngisusa leyo nombolo emugqeni ophezulu wokudidiyelwa, ibhizinisi elizimele lodwa lebhizinisi lethu lamapayipi lilethe ukukhula kwevolumu engamathani angama-28,756 metric, okusondele cishe ekukhuleni kwevolumu ngo-28%.Ngakho-ke amanani amanani angama-26% futhi ukukhula kwevolumu kungu-28%.
Ngokuqondene ne-EBITDA, ungabona ukuthi i-EBITDA ikhule isuka ku-INR 61 crores yaya ku-INR 79 crores, cishe ukukhula okungama-28%.Ngakho-ke manje sesibonile izinombolo zihlanganiswa, kunzima ngathi ukuhlukanisa i-EBITDA ye-Rex, ngakho-ke sizoba --ngeke sabelane ngaleyo nombolo ngoba kunzima kakhulu manje ukukhipha i-EBITDA ehlukene. inombolo Rex.
I-PBT ikhule ngo-38% isuka ku-INR 38 crores yaya ku-INR 52 crores, kanye nohlobo olufanayo lwama-38% lomthelela wokukhula ukusuka kuma-INR 24.7 crores kuya ku-INR 34.1 crores.Futhi uma ubona ukukhula kwevolumu ehlanganisiwe, ngonyaka odlule, ikota efanayo yayingamathani ama-metric angama-24,476.Kulo nyaka, ngamathani angu-31,729 metric, okusondele cishe ku-41% ukukhula kwevolumu kumthamo wokuthengisa.
Ukuza ohlangothini olunamathelayo lwebhizinisi, njengoba kushiwo ocingweni lokugcina ukuthi manje phambili ngeke sabelane ngenombolo yekota ngayinye yokuhlakanipha kwenkampani, nenkampani engaphansi.Ngakho-ke sinikeze inombolo ehlanganisiwe yebhizinisi lokunamathela.Imali engenayo ikhule isuka ku-INR 141 crores yaya ku-INR 144 crores, cishe ukukhula okungu-2.3% kukhona.Futhi i-EBITDA igcinwa ku-14.4% efanayo, ibhaliswe ukukhula kwe-2%.
Ngakho inombolo ye-Resinova yayiphansi noma iphansi engxenyeni yokugcina.Futhi iyunithi yase-UK isinikeze cishe amadijithi aphindwe kabili, u-10% kuya ku-12% uhlobo lokukhula komugqa ophezulu.Kodwa-ke, lezi zinombolo zezinkampani ezingaphansi zizotholakala kuwebhusayithi yethu minyaka yonke.Yonke imibiko yonyaka izoba khona kuwo wonke amagatsha ekupheleni konyaka.
Manje njengoba sifika enombolweni ehlanganisiwe, lo mugqa ophezulu ukhule ngo-27% ukusuka ku-INR 477 crores kuya ku-INR 606 crores.I-EBITDA ikhule ngo-22.78% isuka ku-INR 81 crores yaya cishe ku-INR 100 crores, kanti i-PBT ikhule isuka ku-INR 53 crores yaya ku-INR 68 crore, lokho okungama-27.34%, kanti i-PAT ikhule ngo-27% isuka ku-INR 37 crores yaya ku-INR. 48 million.
Njengoba uSandeep bhai eseshilo kakade, izinombolo ze-Rex bezingaphansi kwesikulindele ngoba cishe sesilahlekelwe inombolo yenyanga engu-1 ngoba cishe zingu-13, 14 izinsuku zika-April, salahlekelwa ngenxa yokuqaliswa kweSAP ngoba lokho kwakudingeka ukuze sibe nokucaca okwengeziwe izinombolo kanye nohlelo oluqinile lwe-MIS, olulandelwa yi-Astral emabhizinisini ayo ayisisekelo.Ngakho sikusebenzise lokho.Ngakho lokho kuthinteka kakhulu ngoba ukuqaliswa kwenkampani encane kuhlale kuyinselelo enkulu.Ngakho-ke ngenxa yalokho, kuthathe isikhathi esiningi kunathi -- ebesikuhlelile.Ngakho-ke ngenxa yalokho, kufanele silahlekelwe ukuthengiswa.
Futhi into efanayo, ngekwata efanayo, sithathe i -- sithole umyalelo wenkantolo ephakeme mayelana nokuhlanganiswa.Ngakho-ke ngenxa yalokho nayo yonke le miyalo yokusebenzisa imali -- zonke izinkampani zokwakha, sithemba ukuthi izolungiswa ngoba kufanele siguqule inombolo ye-GST nakho konke njengenombolo ye-Astral GST.Ngakho-ke wonke ama-oda ashintshiwe kanye nabo.Ngakho lokho kuphinde kwasiphuca isikhathi esingamasonto ambalwa.Ngakho cishe ukuthengiswa kwenombolo yenyanga eyi-1 silahlekelwe ngenxa yalezi zizathu ezi-2: ukuqaliswa kwe-SAP kanye nokuqaliswa kwalo myalelo wokuhlanganisa.
Phumulani, nonke, ngicabanga ukuthi u-Sandeep bhai useke wakhuluma mayelana nomkhiqizo ngamunye kanye nezitshalo ezingeziwe ezigcwele amandla nakho konke.Ngakho-ke manje, sizovele siye esimisweni semibuzo nezimpendulo.Ngibona kakhulu.
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [2]
Futhi okokuqala, ukuhalalisela okuningi ngokusinika isethi yezinombolo ezinhle kangaka.Okokuqala, njengoba ubusuzinikeze zonke izinombolo zevolumu.Ngakho-ke u-26% wokukhula kokuthengisiwe kanye no-28% wokukhula kwevolumu yepayipi, ungakwazi -- ukuchaza kabanzi usuka kuphi -- iyiphi ingxenye othole ngayo ukukhula okuphezulu kangaka?
Sithole ukukhula -- I-Astral ngokuyinhloko iyinkampani esekwe ngamapayipi, ehlinzeka ngamaphrojekthi engqalasizinda.Futhi sithole ukukhula cishe kuzo zonke izimakethe zebhizinisi lethu lomkhakha wamapayipi.Siphinde sakhulisa amakhono ethu ebhizinisini lethu lezolimo.Kodwa noma kunjalo uma kuqhathaniswa nomncintiswano, sibancane kakhulu ebhizinisini lezolimo, kodwa sithole ibhizinisi elihle emkhakheni wezolimo, nawo ohlangothini lokukhula.Kodwa ukukhula kwethu okukhulu kuvela ebhizinisini lethu lengqalasizinda yokufaka amapayipi amanzi.Futhi ukukhula kwethu okukhulu kuvela engxenyeni ye-CPVC.
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [4]
Ukunwetshwa kwendawo, ukwakhiwa kwethu kophawu lokuqwashisa ngokufinyelela, sisebenza kanzima ekwandiseni isiteshi sokusabalalisa edolobheni elincane kakhulu.Siphinde sisebenze kanzima ukuze sidale ukunwetshwa kokufinyelela kwezitolo.Manje sesinophiko oluhambisanayo lwamaphrojekthi.Ngakho-ke ngingasho ukuthi ukunwetshwa kwezindawo kuyingxenye yakho, kodwa ngesikhathi esifanayo, umkhiqizo kanye nokudalwa kwemakethe kusisizile ukuthi siqhubeke nesivinini sokukhula.
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [6]
Kulungile.Okwesibili, emaphethelweni epayipi, ngaphambili, sasibone u-17%, 18% we-margin.Kusukela kumakota ambalwa okugcina, sibona -- ebangeni elizungeze [enye] 15%, 16%.Ngakho-ke singacabanga ukuthi lokhu kuyinto entsha evamile yokuhlukaniswa kwamapayipi e-Astral?
Ngakho-ke njenge-Praveen, umkhawulo uyashintshashintsha ngoba izinselelo zemakethe zikhona, njengokuguquguquka kwempahla eluhlaza kukhona.Kule kota futhi silahlekelwe ku-inventory ngoba, njengoba wazi, ukuthi intengo ye-PVC yehle ngekota edlule.NgoMashi, lawiswa kakhulu.Futhi ngo-April, futhi, yehla.Ngakho ngenxa yalokho, salahlekelwa okuthile.Ku-PVC, kunzima kakhulu ukulinganisa inombolo, kodwa cishe bekuyi-INR 7 crores kuya ku-INR 8 crores uhlobo lwesilinganiso senombolo enzima engikunikeza yona.Ngakho-ke lokho futhi kungesinye sezizathu zokuthi ukwehla okuncane kube khona emkhawulweni wepayipi.Kodwa uma kungenjalo, asiboni -- inkinga enkulu.Ngakho-ke ngicabanga ukuthi u-15% wohlobo lokugijima uzogcinwa.
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [8]
Ngoba ngekota edlule, Q1 -- Q4 FY '19, ube nezindleko zesikhathi esisodwa zama-INR 12 crores.Ngakho-ke futhi, njenge-INR 7 crores, INR 8 crores ye-off-off, ngingakholwa, lokho i-inventory?
Yebo.Ikota edlule nayo ibiyinkinga efanayo ngoba intengo ye-PVC yehle ngo-7%, 8% kuleyo kota ngokwayo, kodwa nakho bekukhona.Futhi ngaphezu kwalokho, sichitha ku-IPL nakuzo zonke lezi zinto.Ngakho futhi kwakuyisizathu...
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP we-Equity Research & Analyst Research [10]
Yebo.Izinto ezifanayo zenzeke kule kota -- ngenxa yalokho.Kodwa ngokwesilinganiso, ungacabanga ukuthi u-15% uwuhlobo lwemajini oluzinzile lwesikhathi eside, ebesijwayele ukulisho ngaphambilini cishe u-14%, 15%.
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [12]
Ngakho-ke -- njengokuthi asilandeli okuningi ngasohlangothini lwe-VAM ngoba asiyisebenzisi kakhulu i-VAM ebhizinisini lethu.Ngakho-ke angicabangi ukuthi kuzosithinta kakhulu.Ngakho asikho...
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [14]
Siyi -- izinkuni ingxenye entsha yethu, futhi sethule kabusha wonke ulayini womkhiqizo wokhuni ezinyangeni ezimbalwa ezedlule.Futhi sakha kuleli bhizinisi.Ngakho uma kuqhathaniswa nama-epoxies ethu noma amakhemikhali okwakha neminye imikhiqizo ehlukahlukene [Ngiyazi, ama-acrylics], ukhuni alukabi lukhulu kangangokuthi amanani e-VAM azosithinta.
UPraveen Sahay, Edelweiss Securities Ltd., Uphiko Locwaningo - Umsizi we-VP ye-Equity Research & Analyst Research [18]
Ngakho sinombuzo olandelayo ovela kulayini ka-Ritesh Shah ovela ku-Investec Capital (sic) [Investec Bank plc].
Sandeep bhai, ubonise ku-Rex, sibe nokubuyekeza okuthile kuzinkontileka.Ungakwazi yini ukucacisa ukuthi ngabe ibibheke embonini yabasebenzisi bokugcina?Noma bekubheke ohlangothini lwempahla eluhlaza?
Kubasebenzisi, empeleni, ngoba inkampani ihlanganiswe kusuka ku-Rex kuya ku-Astral.Ngakho bonke laba basebenzisi, kufanele sisondele futhi siguqule izinkontileka ngokufanele.
Ngakho-ke ngaphansi -- lezi zinkontileka zazisegameni lika-Rex, futhi bezisebenzisa inombolo ye-Rex GST sezizonke.Ngakho-ke, kufanele siyiguqule egameni le-Astral nangenombolo ye-Astral GST.
Lokho sesivele sikuqalile.Ngakho-ke si-- ngaphambilini, besifuna endaweni e-1 noma engu-2.Ngakho manje sizohlela imithombo eyengeziwe.
Kulungile.Kuyasiza lokho.Sandeep mnumzane, uma ungasisiza siqonde kangcono, ukhombe ukusuka ku-3-Tier ukuya ekusatshalalisweni kwe-2-Tier yokuthengisa okunamathelayo.Uma ungakwazi ukunikeza okunye ukunambitheka lapha?Njengokuthi, ingabe ngabasabalalisi abafanayo abazo -- bahlinzekele amakhemistri ahlukene?Noma ingabe sinabasabalalisi abahlukene bamakhemikhali ahlukene?Uma unganikeza umbala obanzi ngezinombolo ezithile ngapha.
Ngokuyisisekelo, lapho sithola i-Rex, banenani elikhulu labasabalalisi.Ngisho nomfana othenga i-10,000 wayengumsabalalisi.Ngakho-ke kufanele sisihlanganise lesi simo, futhi sihlanganise ngokufanele.Futhi sihlanganise ukuze sibe nabasabalalisi abakhulu kakhulu.Futhi sithole ukuthi ukudala ukufinyelela, bekuya kuba nzima kakhulu ukudlulisa noma isiphi isikimu noma yimuphi umsebenzi wokufaka uphawu kuze kube sekugcineni ukusetshenziswa bekuya kuba nzima kancane ukudlula kulezi zendlalelo ezi-3.Ngakho manje -- iningi lalaba -- abasabalalisi beSigaba sesithathu baguqulele esiteshini sesibili.Futhi lezi zisatshalaliswa -- ziqondiswe ngqo kubathengisi noma abasebenzisi bokugcina.Futhi sengeze inombolo enkulu yeziteshi zokusabalalisa kuyo ukuze ihlinzekele abathengisi nabasebenzisi.Ngakho le yindlela isiteshi esibunjwe ngayo kabusha.Yebo.Sinabasabalalisi abahlukene bamakhemistri amaningi.Futhi lokho kuwushintsho olukhulu esilwenzayo.Ngokusemthethweni, umsabalalisi oyedwa wayezokwenza wonke amakhemikhali.Futhi wayezogxila kuphela futhi adayise amakhemistri angu-1 noma ama-2 ngoba wayejabule ngalelo bhizinisi elingako.Futhi amanye amakhemikhali esingayenza, kodwa hhayi ngendlela edingekayo noma ngendlela ekhula ngayo emakethe.Ngakho siyi -- senze izinguquko eziningi lapha.Cishe umjikelezo woshintsho uyasungulwa, uyaphothulwa.Futhi inamandla.Kuzoqhubeka iminyaka ezayo.Angiboni lutho oluphothuliwe ebhizinisini.Kodwa ingxenye enkulu isungulwe kahle futhi yenziwe.Ukugcina inkampani ihamba ngokukhula okuhle, ijubane elihle nemali enhle.Ngakho-ke sisendleleni efanele, futhi asenzi -- senze izilungiso ezifanele [ezidingekayo].
Ritesh, lokhu kulungiswa ngeke kusisize nje kuphela ekukhuleni, kodwa lokho kuzosisiza ukuthi sithuthukele emaphethelweni ngoba 1 yonke imajini, sizovele siyinqamule.Ngakho-ke lokho kuzosisiza ekuthuthukiseni ama-margin nawo ukuya phambili, akudingekile ukuthi yonke imajini ingene ephaketheni lethu.Kodwa singase sidlulisele enye imajini emakethe futhi.Kodwa lokho kuyosisiza ukuba sikhulise imiqulu yethu.
Ngakho akukhona ukuthi i-7%, 8%, i-Tier 1 yayithatha imajini.Ngakho-ke i-7%, i-8% ithuthuka ezingeni le-EBITDA.Kodwa u-7%, 8% -- iphesenti elithile, singase siligcinele thina, bese sidlulela emakethe.Ngakho-ke kulelo zinga, umkhiqizo wethu uzoshibhile.Kodwa lokho -- siyabona, lokho kuzoba inzuzo enkulu, enkulu, mhlawumbe ikota engu-1 phansi komugqa.Umthelela omncane uzoba khona enombolweni ye-Q2 futhi esesivele sixhumane nayo ngaphambili ukuthi -- ngoSepthemba, sizoqedela ushintsho lwethu lwesakhiwo.Futhi kusukela ngo-Okthoba kuye phambili, sizobuyela ekukhuleni okuvamile kanye nesilinganiso esiphezulu kunalokhu esikulethela namuhla.
Mnumzane, umbuzo wami uthi esikhathini esinzima, sikhombisa uhlobo lokukhula komthamo ngo-28% engxenyeni yamapayipi.Ngenkathi ibhizinisi lokunamathisela linayo -- imali engenayo ibiphansi.Ngakho-ke uma ukwazi ukuthinta ukukhanya, sivelaphi lesi sidingo?Ngoba uma sibheka ezinye izinkampani ezisesigabeni sakho noma ezingxenyeni ezihlobene nazo, sibona ukuthi ziningi izinselelo ezibhekene nazo, sibheka isimo sesidingo esibuthakathaka.Ngakho-ke uma ungaphonsa okugqamile mayelana nesimo semakethe.Futhi nasebhizinisini lokunamathisela, kungani imali engenayo yayiyisicaba?Ngisho ukuthi bekunjengokulindelekile?Noma siphuthelwe kwenye indawo?
Njengokuthi -- okokuqala, ukuza esigabeni samapayipi.Ngakho ukufunwa kwamapayipi bekukuhle ngokuphelele embonini.Ayikhawulelwe ku-Astral kuphela.Nginesiqiniseko sokuthi omunye umdlali ohleliwe naye uzokhula kulesi sikhathi esinzima.Ngakho kwaba ukukhula jikelele amapayipi.Ikakhulukazi, kunzima kakhulu ukuqonda isizathu esiqondile sokukhula.Kodwa ngicabanga ukuthi uguquko lwenzeka ezindaweni ezingahlelekile kuya kwezihlelekile.Ngakho lokho kungaba ngesinye sezizathu ezinkulu, esizibonayo.
Futhi futhi, ngokuza ngqo ohlangothini lwe-Astral, senze izilungiso eziningi.Ngicabanga ukuthi uMnu Engineer useke wachaza ukuthi sizokwandisa igeography.Sandisa inethiwekhi yomthengisi.Sandisa ububanzi bomkhiqizo.Senza umsebenzi omningi wokumaketha.Ngakho zonke lezi zinto zinesandla ekukhuleni.
Futhi-ke, lezi yizindawo ezikhula kakhulu kakhulu, okunzima kakhulu ukusho ukuthi lolu hlobo lokukhula kwendawo ephakeme luzoqhubeka ngasiphi isikhathi.Kodwa kusukela namuhla, lapho sikhuluma ngomhla ka-2 Agasti, le nsimu ephakeme isaqhubeka.Ngakho-ke, kunzima kakhulu ukunikeza isiqondiso sokuthi sizoqhubeka kangakanani insimu ephakeme ezindaweni ezizayo.Kodwa kusukela namuhla, ukukhula kuphezulu kakhulu.Ngakho kunzima kakhulu ukuqonda imakethe.Manje kufika ku...
Ngakho-ke -- okwami -- ngakho-ke umbuzo wami wawuwukuthi abanye abadlali bakhule kakhulu engxenyeni yamapayipi ezolimo, kuyilapho amapayipi abengawalungeli kangako.Ngenkathi kithi, ingxenye ye-agri incane kakhulu futhi ingaphezulu -- futhi ukukhula okuningi kuvela engxenyeni yamapayipi.Ngakho-ke ngididekile kancane, kungani [incazelo].
Akunjalo, yi-agri kuphela ekhulayo.Ngicabanga okunye -- iyiphi inkampani oyikhulumayo enye engakakhuli.Anginazo ezinye izinkampani enginazo, kodwa nginesiqiniseko sokuthi nezinye izinkampani ziyakhula ngoba azikhawulelwe ekufuneni agri kuphela.Ngoba ezinye izinkampani azikho esizindeni somphakathi esinohlangothi lwamapayipi, ngakho-ke lokho kungase kube ukungatholakali kwenombolo.Kodwa ngaphandle kwalokho, sinombono wokuthi uhlangothi lwamapayipi ebhizinisi lukhula ngokushesha kakhulu.Ngakho-ke okungenani, anginayo inombolo nawe.Uma unayo, ngicela ungihlanganyele, ngingadlula nakuleyo nombolo.Kuyoba usizo nakimi.Kodwa sekukonke, ukukhula kukhona.Isohlangothini lwamapayipi kanye nosayizi we-agri.Uhlangothi lwe-Agri luwukukhula okuphezulu.Ngakho leso futhi isizathu.
Okwesibili, ukuza komunye umbuzo wakho wohlangothi lokunamathela.I-Adhesive, asinalutho esiphuthelwe emakethe.Siyakhula ohlangothini lwezitolo.Kungenxa yoshintsho lwesakhiwo, lokhu ukukhula okuphansi futhi esikuqondise kusenesikhathi ukuthi sikwenza ngokwesakhiwo.Njengalokho esakwenza ngonyaka odlule e-Astral, sehlise umkhawulo wesikweletu.Simise umkhawulo wesikweletu womsabalalisi ngamunye.Sixhume wonke umuntu kwezezimali zesiteshi.Ngakho ngonyaka odlule, siphuthelwe ukukhula okuthile.Kodwa manje ngalokhu kulungiswa kulo nyaka, uyabona, kuyasisiza kakhulu, futhi umjikelezo wokuqoqwa usuthuthuke kakhulu kithi.Into efanayo, ukulungiswa kwesakhiwo kwenzeka ohlangothini lokunamathela futhi.Futhi enye ingxenye yesine, uhlobo olufanayo lokukhula okuphansi luzoba khona.Kepha sinethemba elikhulu lokuthi kusukela ku-Q3 kuye phambili, okunamathelayo kuzo -- nakho kuzobuyela endaweni ekhula kakhulu.
Mnumzane, umbuzo wami uthi, lokhu kulungiswa kabusha kwesistimu yokusabalalisa esikwenzayo kuma-adhesives, cishe hlobo luni lokutshala imali esicabanga ukuthi lukhona kulokhu?
Ngakho-ke, akukho -- akukho mali edingekayo.Uyaqonda ukuthi sikwenza kanjani ukulungisa.Ngakho-ke njengamanje, kunezendlalelo ezi-3 ebhizinisini.Ngakho-ke oyedwa, phezulu kwesendlalelo yi-stockist;bese kuba izinga lesibili, umsabalalisi;futhi ezingeni lesithathu, kukhona umthengisi.Ngakho-ke manje sesisusa isitokofela ohlelweni ngoba kungenasidingo, basusa phakathi kuka-6% kuya ku-8% uhlobo lwemajini kithi.Ngakho-ke sicabange ukuthi masenze ngqo nomthengisi -- umsabalalisi.Ngakho izindleko zethu zizoba zincane -- zizokhuphuka ngoba sizovula namadepho ambalwa, futhi sizobe sisekela bonke abasabalalisi abavela edepho.Futhi bonke amasheya ababenesithakazelo kithi, bonke bayaqhubeka njengomsabalalisi.Kodwa bazobe bethola i-invoyisi ngentengo yokusabalalisa, hhayi ngentengo yesitoko.Ngakho-ke akukho -- akukho ukutshalwa kwezimali okudingekayo kulolu hlelo.Yileso sendlalelo esisodwa kuphela esisisusayo ohlelweni.Futhi ngokwezinga elithile, sengeza amadepho kulelo zinga, ukugcinwa kwempahla encane kungase kukhuphuke.Uma kungenjalo, angicabangi ukuthi kudingeka ukutshalwa kwezimali okuningi kulokhu.
Mnumzane, kodwa kulokhu, asiboni yini kusengaphambili ukuthi cishe ukulahlekelwa [umuzwa] wokuthengisa phakathi nalolu shintsho lwesikhashana kungaba ngaphezu kwe-H1 FY '20 kithi?
Cha, angicabangi kanjalo ngoba iningi labasabalalisi bethu banathi kuphela.Futhi abambalwa bamasheya nabo bazoqhubeka nathi.Ngakho-ke angicabangi ukuthi sizolahlekelwa ukuthengisa.Yebo, esigabeni soshintsho, izoba khona ngoba sisusa i-inventory ye-stockist.Ngakho lokho kuzobuyela kithi.Ngakho-ke kulelo zinga, yebo, kuyoba ukulahlekelwa ukuthengisa, kodwa hhayi ukulahlekelwa ukuthengisa ezingeni lomsebenzisi wokugcina.Yisitokwe kuphela esilele ohlelweni esizoncipha.Futhi yilokho okubonayo ezigabeni ezi-2 zokugcina ukuthi izinombolo ze-Resinova azikho ezingeni, lokho ngaphambili okwakuwu-15%, u-20% uhlobo lokukhula komugqa ophezulu.
Kodwa ngokuyisisekelo, ithola imakethe.Sizuza imakethe ngendlela enkulu.Futhi ngiyakuqinisekisa ukuthi ngemva kwe-Q2 ne-Q3, uzobona lolu shintsho, njengoba i-Q1 ine -- imiphumela emihle.
Ngisho nale kota, inombolo ephansi -- esinye sezizathu ukuthi umthamo ukhona ngoba inani lehlile, ngoba zonke izintengo zamakhemikhali ziyehla.Ukuthi ucosha i-VAM, noma ngabe ukhetha i- -- le epoxy, noma ngabe ucabangela i-silicon, ukwehla okukhulu kukhona enanini lempahla eluhlaza.Ngakho kufanele sehlise nentengo yokugcina yomkhiqizo futhi.Ngakho ukukhula kwevolumu kusekhona.Kodwa lokho - kodwa ukukhanga kwempahla nakho kuyaqhubeka ngokufana ohlelweni.Ngakho bobabili bakhona.Ngakho ukukhula kwevolumu, akukho ukulahlekelwa okuningi.Kodwa yebo, ohlangothini lwenani, sonke silahlekelwe ngoba sehlise intengo futhi.
Kodwa kuma-adhesives, senze konke.Ngakho-ke bekungeke kube khona noma iyiphi i-CapEx eyenzeka kulokho njengebhizinisi (elingezwakali).Okungenani okuza kulo nyaka ngisho nangonyaka ozayo, bekuzoba khona kancane.
Futhi sibeke konke okudingekayo ukuze sibe nawo wonke amakhemistri, amakhono, ukwesekwa, yonke into isimi ngomumo.Ngakho uhlangothi lokutshalwa kwezimali kulelo bhizinisi lungaba lula.Futhi ukunwetshwa kwemakethe kuzoba nzima kakhulu.Futhi sizobe sisebenza kanzima ukwenza noma yini edingekayo kulolo hlangothi ukuze sakhe umkhiqizo emakethe kuwo wonke umkhiqizo nawo wonke amakhemikhali esiwenzayo.
Sandeep bhai, imibuzo embalwa.Okokuqala, ingabe imboni iyonke izozuza kulolu hlelo lwe-Jal se Nal (sic) [uhlelo lweNal se Jal] lukahulumeni waseNdiya?Futhi ingabe ikhona indlela i-Astral engabamba ngayo iqhaza kulokho?Futhi isheshisa ukukhula kwethu ohlangothini lwamapayipi?
Impela.I-Astral izobamba iqhaza elikhulu kuleli bhizinisi elizayo lokusabalalisa amanzi.Kuzoba nemikhiqizo eminingi ezosiza -- uhulumeni kanye nemiklamo yengqalasizinda yokusabalalisa amanzi lapha.Miningi eminye imikhiqizo esesivele siyibheka phambili kwezobuchwepheshe.Sekubanjwe imihlangano eyahlukene ezodingwa yimiklamo yengqalasizinda kahulumeni yokuthwala nokusatshalaliswa kwamanzi.Ngakho yebo.I-Astral isebenza kanzima kulokhu.Ukuhlola imikhiqizo emisha eyongayo, engcono futhi esheshayo [ukubekelwa] lolu hlobo lwamaphrojekthi.Futhi ngokufanele, ukusebenza ngomthamo wayo, ukwengeza imigqa yomkhiqizo okudingeka ibe sezingxenyeni ezikhona, amaphothifoliyo omkhiqizo akhona.Futhi sisebenzela imigqa yomkhiqizo nezinkampani ezivela e-United States, lapho sesivele sithole umkhiqizo ogcwele iziqukathi ezi-2, 3 zokongiwa kwamanzi.Umkhiqizo ungabekwa ngaphansi kwenhlabathi.Singawonga amanzi, siwasebenzise kabusha noma sishaje amanzi eMadera.Ngakho yebo.Lena ingxenye, ekweyami -- phezulu ohlwini lwami olubalulekile.Futhi mningi umsebenzi owenziwayo kusukela ekugcineni kwethu kule ngxenye.Futhi ngibona ikusasa elihle, elihle kule ngxenye eminyakeni ezayo.Futhi ngeke sibe ngemuva kwanoma ubani kulesi sigaba.Sesivele senze i-JV nale nkampani.Okokuqala ukuletha nokudayisa, bese ukukhiqiza eNdiya.Ukongiwa kwamanzi kuphezulu emugqeni wethu.Futhi amanzi -- Jal se Nal (sic) [Nal se Jal scheme] nawo amaphrojekthi afika engqondweni yami.
Kuhle ukuzwa lokho.Sandeep bhai, usho nge-JV eyodwa, ngiyacabanga, ungavele ubeke eminye imibala eyengeziwe kulokho?Ngisho...
Kulungile.Ngiyitholile.Ngikutholile lokho.Futhi usho mayelana nemikhiqizo embalwa emisha efana ne-PEX nesifafazi somlilo, ikholomu kanye ne-casing.Manje ungakanani usayizi wale volumu njengamanje futhi uhlanganisiwe?Ingabe lokho kufana nomkhiqizo omusha osafufusa, uma kufanele ngisho lokho?Futhi ingakanani usayizi eyayingaba lapho -- ake sithi, iminyaka emi-5 phansi komugqa?Ngicabanga ukuthi okuthile okungaletha imibala kulokho kungasiza kakhulu.
I-PEX iwumkhiqizo omusha kakhulu.Usuvele uyazi nge-PEX, i-polyethylene exhumene.Isetshenziswa kuwo wonke amazwe athuthukile nge-CPVC ekusetshenzisweni kwamapayipi, kokubili kwamanzi ashisayo nabandayo.Kumaphrojekthi aphambili e-India, amanye awo asebenzisa i-CPVC, amanye awo ancamela ukusebenzisa i-PEX.Ngakho-ke ukuze singabi nalokhu kuphothifoliyo yethu, sesivele singene ngobuningi -- ubuchwepheshe bakamuva be-PEX-a kulo mugqa womkhiqizo.Okwamanje, ukulinganisa imakethe yesikhathi esizayo kusesekuseni kakhulu.Umkhiqizo muhle kakhulu -- esimweni esiseduze, uyazenzela.Kodwa ngingaphonsa ukukhanya okukodwa esinakho -- ekwethulweni kwalo mkhiqizo, cishe ezinyangeni ezi-5 kuye kweziyi-6, sithola ukuthengiswa okumaphakathi kwama-INR 10 lakhs, INR 15 lakhs ngenyanga ye-PEX kumaphrojekthi lapho ochwepheshe bafuna i-PEX futhi bancamela i-PEX.
Futhi manje ukuze ulinganise umkhiqizo wakho kumshini wokufafaza umlilo, yebo, le makethe iyathuthuka.Le makethe yayisasesimeni esiseduze.Lo mkhiqizo ukhona emakethe kusukela cishe eminyakeni eyi-10, 15 -- 10 kanye ne-Astral.Ngenxa yezizathu ezahlukahlukene, ngenxa yezinhlelo ezahlukahlukene zokugunyaza, lokhu bekungaqali ukusetshenziswa ngendlela enkulu kule ngxenye.Kodwa indlela lezi zehlakalo zomlilo ezenzeka ngayo, izingozi ezenzekayo futhi ngokomhlahlandlela we-NFPA, lo mkhiqizo ungasetshenziswa kuzo zonke lezi zakhiwo lapho kwenzeka khona lezi zigameko noma ngenxa yomlilo, abantu bayafa.Ukuphepha kuyadingeka manje kuzo zonke izakhiwo.Futhi ngibona lo mkhiqizo uqhuma futhi ukhula ngokushesha kakhulu eminyakeni ezayo, umkhawulo -- onyakeni ongu-1 noma iminyaka emi-2, uzobona lo mkhiqizo ukhula ngokushesha kakhulu.
Inzuzo enkulu kulo mugqa womkhiqizo, i-Astral iwuphethe futhi umncintiswano uthi -- I-Astral yenza wonke umkhiqizo, wonke owufaka endlini ngobuchwepheshe bawo, ngowabo -- ngemvume efanayo e-India.Ngakho-ke sibiza kakhulu, sibiza kakhulu kunomncintiswano -- kule ngxenye yomkhiqizo.Noma kunjalo, singawuthengisa umkhiqizo ngenani elihle futhi.Ngakho-ke ngibona imakethe enkulu, ikusasa elihle lalo mkhiqizo, ikakhulukazi [okungabonakali].
Futhi uSandeep, umbuzo wokugcina, ohlangothini lwepayipi.Noma yini -- esikubonayo ukuthi utshala imali ngokuqhubekayo kuma-opharetha ahlukahlukene.Isesitshalweni esisha noma emkhiqizweni omusha noma ezitolo ezinkulu ezintsha.Futhi lokhu kukhulisa iphrofayili yethu yemajini.Ingabe lukhona uguquko lwesakhiwo noma ngokuyisisekelo [uphawu lwangaphambili] emaphethelweni esingalulindela epayipini ukuya phambili?
Ngicabanga ukuthi besivame ukusho ukuthi, u-14%, u-15% uhlobo lwe-margin wuhlobo oluqhubekayo lwe-margin.Kepha ithuba liza le-Astral ngemikhiqizo emisha noma mhlawumbe lemikhiqizo ekhona nakho konke, ngakho-ke manje amamajini ayanda ohlangothini oluphezulu.Ngakho-ke kufanele sibone -- kufanele sibheke isimo semakethe.Futhi sithemba ukubona -- futhi okwesibili, izilungiso eziningi zangaphakathi esizenzayo ngokuya nge-logistic.Njengokugcina futhi emhlanganweni womhlaziyi, sachaza ngokuningiliziwe ukuthi manje yonke indawo sidala ama-verticals futhi wonke amakhanda ayaqokwa esigabeni ngasinye.Ngakho -- kanye nokunwetshwa kwendawo yesitshalo, ngakho-ke -- manje inyakatho isivele iphezulu futhi isebenza ngomthamo ongu-60% ngonyaka wokuqala.Kuyimpumelelo enkulu, ngingasho.Ngakho-ke into efanayo ngonyaka ozayo, le mpumalanga izosebenza.Ngakho-ke namuhla, ubona ukuthengisa umkhiqizo usuka e-Ahmedabad uya emakethe yasempumalanga, sithola uhlobo lwenani elingu-10% ukuya ku-12%.Futhi singaba kanjani ukuncintisana kuleyo makethe.Kodwa noma kunjalo, sikhona kuleyo makethe.Ngakho-ke uma sesilapho, khona-ke kukhona amathuba aphezulu okuthi singathola isabelo esihle semakethe nakuleyo geography.Futhi hhayi kuphela isabelo semakethe, kodwa amamajini amahle futhi ngoba uma uzobe usembonini yendawo, eduze [nechweba], ngakho-ke lokhu kuzosisiza kakhulu futhi kuzosisiza ekwandiseni umkhawulo wethu.Kodwa okwamanje, angifuni ukukhulisa umhlahlandlela wethu we-margin ngoba leyo ndawo inzima.Ziningi izinselelo eziqhubekayo emakethe.Kuningi ukuguquguquka okwenzekayo kulolu hlangothi lwempahla eluhlaza.Ukuguquguquka okuningi kwenzeka ohlangothini lwemali.Ngakho-ke asifuni ukugxumela sithi sizobe senyusa umkhawulo wethu ngamaphesenti athile.Kodwa ukukhula kwevolumu kubaluleke kakhulu kithi.Futhi ngalokhu kukhula kwevolumu ephezulu, uma sikwazi ukugcina lolu hlobo lwe-margin ukuthi ngokwalo impumelelo enkulu kakhulu ngaphansi kwezimo esisebenza kuzo kule makethe yaseNdiya.Ngakho gcina umunwe cross.Kukhona ama-headroom amaningi atholakalayo okukhula.Ama-headroom ayatholakala ukuze kunwetshwe imajini.Ngokuhamba kwesikhathi, sizovula yonke into.Futhi i-trajectory isendleleni enhle, ngingasho.Kodwa kulesi sigaba, ukucacisa kuzoba nzima kakhulu kithi.
(Iziqondiso Zokusebenza) Sinombuzo olandelayo ovela kulayini ka-Tejal Shah ovela ku-Reliance Nippon Life Insurance.
Ngingathanda nje ukuqonda, kunoshintsho lwesakhiwo esiteshini sokusabalalisa, osithathile ekusatshalalisweni kweTier 3 kuya kuTier 2.Ngenkathi uchaza, kukhona i-inventory yokubhala emuva oyithathile.Sicela usichazele -- ukuqonda ukuthi -- kushiwo kanjani lokhu?
Ngakho-ke ake ngikulungise, susa uhlu lwamagama, awusho ukuthi sithathile.Ngakho-ke akukho mpendulo ngenxa yalolu shintsho lwesakhiwo, okokuqala.Okwesibili, i-inventory, noma yini ehambisana ne-Tier 1 level distributor, ngakho-ke kufanele siyithole -- sikhiphe leyo mpahla ngoba kufanele siyidayisele imakethe.Noma uma engakwazi ukuyidayisa, sizobe sesiyithatha futhi siyidayisa emakethe.Akukona ukucisha.
Mnumzane, ingabe -- mnumzane, ngephutha -- emuva ezincwadini zethu, ingabe kukhona ukubala okufanele sikwenze ngalokho?
Kulungile.Futhi mnumzane, okwesibili, kunesibopho sengxenye esingabelwe se-INR 311 crores.Sicela usisize siqonde ukuthi lokhu kuhlobanisa nani?
Ngicabanga ukuthi lokho kungenxa yokuboleka -- imali mboleko nakho konke.Futhi engikucabangayo, mhlawumbe -- ikakhulukazi kungenxa yokuboleka, kodwa kufanele ngibone inombolo.Futhi ngicabanga -- uma ungangishayela kusasa, ngingakunikeza inombolo eqondile.Anginazo izinto nami.
Impela, mnumzane.Futhi mnumzane, umbuzo wokugcina, uma ngingangena, mayelana nezindleko zabasebenzi.Mnumzane, kunokwenyuka ngo-19% kwekota ngekota.Ungakwazi ukuphonsa umbala othile kulokho?
Yebo Yebo.Ngakho-ke lokho ikakhulukazi yizizathu ezi-2: Esinye ukuthi sizokwandisa imali yabasebenzi ebhizinisini lokunamathisela, ngakho-ke yilokho - lokho.Okwesibili, ukukhuphuka okuvamile kukhona.Futhi okwesithathu, lokhu kuyikota ephansi, ngakho ngenxa yalawo magama iphesenti, kubukeka kuphezulu kakhulu.Kodwa uma -- ngisho namanje minyaka yonke, uma ubona i-Q4, ihlale inkulu.Ikota yokuqala yenza cishe u-17%, u-18% womugqa ophezulu.Futhi ikota yokugcina inikele cishe ngama-32% omugqa ophezulu.Ngakho-ke ngenxa yalokho, isizini oyibonayo, leyo inombolo ephezulu ku-Q1.Kodwa ngonyaka, ngiyaqiniseka ukuthi ngeke kube phezulu kangako.Futhi ngesikhathi esifanayo, kukhona ukukhula komugqa ophezulu, futhi ungabona u-27% kule kota.
Mnumzane, embuzweni owandulelayo, uveze ukuthi sekukhona i-inventory, ethengwe yabuyiswa.Mnumzane, ungakwazi ukulinganisa inani lapha?
Ngakho-ke lokhu kwenzeka kusukela ekugcineni -- cishe amakwata ama-2.Ngakho kufanele ngihlole lokho, ukuthi -- inombolo engakanani.Futhi le kota izoba yinombolo encane ku-Q3 -- 2 futhi.Ngakho kunzima kakhulu ukusho.Kodwa sekukonke, imvamisa, umuzwa wami wamathumbu uthi, ngingahle ngibe nephutha ngenani eliqondile, ngi -- ngiyaxolisa, kodwa ngokuvamile, ngokwesilinganiso, laba basabalalisi abaphezulu babanjwa -- babambe cishe ama-INR 40 crores kuya ku-INR 50 crores yokusungula.Ngakho ekugcineni, ama-INR 40 crores kuya ku-INR 50 crores azobuya ohlelweni, bese sizobe sithengisa.Ngakho-ke sekukonke, kuzoba lolo hlobo lwenombolo unyaka ogcwele.
Kulungile.Futhi Sandeep bhai, ubonise ukuthi izinto bezijwayelekile kusukela ngo-Okthoba kuye phambili, njengoba sishintsha isakhiwo sokusabalalisa.Ngakho mnumzane, siqiniseka kangakanani ekwandiseni...
Siyazethemba 100%.Konke sekucishe kwenziwa.Futhi i-Astral, noma yini eyinikezile -- inikezwe isiqondiso esisobala esiphelele lapho.
Asizami ukwenza lutho ngaphandle kokucaca okuphelele futhi konke kwenziwa.Ngizethemba ngo-110%, futhi izinto zihamba ngendlela eyakhayo.Nami, empeleni, ngiyibonisa ngendlela yenombolo, futhi izobonakala ngendlela yenombolo.
Futhi mina ngokwami, ngethusa lonke ibhizinisi lokunamathisela -- ngikunikeza u-70%, 80%.Ngiqiniseka kabili ngakho.
Kufanele uthembele kithi.Esikwenzayo kungokwesikhathi eside, futhi uzobona izinombolo nokukhula kufinyelela ekudalweni, wonke amakhemikhali ahambayo.Ngasikhathi sinye, sisebenzela ukwengezwa kwamakhemikhali amaningi.Saqedela lonke uhla lwamakhemikhali okwakha.Manje sinesikhungo se-R&D esigunyaziwe nguHulumeni wase-India.Ngakho sinesikhungo se-R&D esisezingeni eliphezulu.Amanye amakhemistri azobe esephelile futhi athunyelwa embonini yethu yase-UK, umsebenzi usaqhubeka.Ngakho akukhona ukuthi sizokwenza izinto ngoba lokhu nalokhuya akuhambanga kahle noma lokhu akuhambanga kahle, kodwa senza izinto -- sandise imakethe nokukhula.Futhi uzobona ngezinombolo.
Empeleni, lezi zonke izinzuzo zesikhathi eside.Ngakho-ke akufanele sibuyekeze konke (okungazwakalayo) kwekota engu-1 noma amakota angu-2.
Kwadingeka futhi sidlule ezinseleleni eziningi ezinjalo ebhizinisini lamapayipi.Futhi sihlala sidlula kuzo, uma kubhekwa ukucaca okuphelele kwemakethe kanye nokuzethemba okuphelele futhi sihanjiswa kuzo zonke izikhathi lapho senza khona izinqumo ezinkulu, izinguquko ezinkulu, izinguquko ngokuphelele kusuka emthonjeni kuya komunye umthombo ku-CPVC.Futhi sikusebenzele ngokuzethemba.Futhi ngiyakutshela, sizo -- sikusebenzele ngokuzethemba.Futhi angikwazi ukusho -- kulesi sikhathi, kodwa ngiyakuqinisekisa, uzokubona ngendlela yezinombolo kusukela -- okungenani kusukela kule kota kuqhubeke, ngiyakutshela.Futhi i-Q3, i-Q4 ingaba nemibala emihle endizayo.
Kuyasiza kakhulu lokho, Sandeep bhai.Mnumzane, umbuzo ohlobene nje.Ngabe lokho kuba nomthelela kanjani emalini esebenzayo isuka ku-3-layer iye ko-2-ungqimba?Ngakho-ke angazi, yimalini ukusatshalaliswa ezingeni lesitoko?Noma ku...
Ngeke kuphazamise imali yokusebenza ngoba nalapha futhi eziningi zazo -- esizilethe ngemali ewukheshi noma amabhayisikili ayizinsuku eziyi-15 kuye kwezingama-30.Ngisho sikhuluma nabamabhange ngezimali zesiteshi.Sithole isipho esihle kakhulu esivela ebhange elilodwa lokusisekela kwezezimali zesiteshi.Ngakho 100% sigcina imali yethu yokusebenza injalo futhi senza zonke izinguquko njengoba kudingeka.
Ngakho sisebenza kuyo yonke imikhakha.Ayikhawulelwe kuphela ku-3-Tier kuya ku-2-Tier into.Kodwa ngokufanayo, sisebenza kokunye okufanayo.Futhi i-Astral futhi sathatha isikhathi esiningi ukusungula umkhiqizo futhi sithuthela ekwehliseni ezinsukwini ezitholwayo, bese sithuthela ezezimali zesiteshi nakho konke.Konke lokhu kuwumsebenzi oqhubekayo, ukukhuluma nomuntu osebenza ngamabhange, ukuwafaka eBhodini futhi sikholwe -- umsabalalisi ukuthi eze emzileni wokuxhasa ngezimali, athole zonke izivumelwano zibe yimpumelelo nomsabalalisi ngamunye.Lona umsebenzi omude kakhulu.Akunakwenzeka ngekota engu-1 noma emi-2.Sihlale sitshela abatshalizimali bethu ukuthi sicela nibekezele ngoba ekupheleni kosuku, asikho lapha ikota engu-1, 2, 3 noma 4.Silapha iminyaka.Futhi kufanele ugcine ukubekezela.Futhi ngalesi sineke -- ngisho ne-Resinova ngenkathi sithatha izintambo, ngiyaqiniseka ukuthi abatshalizimali badumale kakhulu ngonyaka wokuqala ongu-1 noma iminyaka engu-1.5 ngoba abatshalizimali babheka ngokubuka kwentengo yesitoko.Lapho umbono wokuphatha, uma ubona, asibheki iphuzu lokubuka lentengo yesitoko.Sibona njalo ukuthi lezi yizinguquko zesakhiwo ezizosiza inhlangano isikhathi eside.Futhi sihlale sithi, "Bonke abatshalizimali, gcinani isineke futhi nibeke imali ngombono weminyaka emi-5."Ngiqinisekile kulesi sikhathi seminyaka emi-5, noma ngabe yiziphi izilungiso ezidingekayo kunoma yini, izoguqulwa ibe inombolo enenzuzo.Kwenzeka okufanayo nakuRex.Lapho sithola i-Rex, i-EBITDA yehle isuka ku-14%, i-15%, i-16% i-EBITDA evamile ye-Rex.Sehle safinyelela ku-3% uhlobo lwe-EBITDA.Futhi kwikota yokugcina, ubona cishe u-6%, 7% noma 8% uhlobo lwe-EBITDA.Manje usufikile ohlotsheni olunamadijithi amabili lwe-EBITDA.Ngakho-ke lezi -- zonke izinto zithatha isikhathi ngoba -- futhi kwesinye isikhathi siyahamba kabi ekuqaguleni kwethu futhi.Sicabanga ukuthi sizokwenza ukulungisa ku-2, 3 amakota noma mhlawumbe ama-4.Kungase kuthathe amakwata angu-6 futhi.Ngakho-ke, kunzima kakhulu uma senza izinto ezingokoqobo, ngezinye izikhathi kuthatha isikhathi futhi singase sihambe ngokwahlulela kwethu futhi.Ekugcineni, nathi singabantu.Futhi sithatha ukuwa ngokomsebenzi.Ngakho sihlala sicela kuwo wonke umuntu, "Ngicela ungabheki ikota engu-1 noma amakota angu-2. Hlala nesineke. Uma lezi zinto zizo -- sezilungisiwe, zizoguqulela inombolo lapha."
Okwesibili, mangiphumele obala ngokubheka isimo semakethe kanye nesimo sezezimali.Ukunikeza amakhredithi nezinto zokuthengisa kuyinto yokugcina ebesiyenza kusukela eminyakeni engu-2 edlule, ngisho nasemabhizinisini amapayipi nokunamathisela.Futhi ngeke sibe sengcupheni yokukhula ngezindleko zokunikeza okubalulekile ngamakhredithi amakhulu kule makethe noma ukukhulisa imigqa yezikweletu noma ukubikezela lezi zinombolo.Lokhu -- siyikho -- into yokuqala esemqoka ukugcina lokhu kumisiwe.Futhi ukugcina konke lokhu kubhekwe, senza zonke lezi zinto futhi siqhubekela phambili, akunjalo?
Njengoba u-Hiranand bhai asho, sidlula ezinseleleni e-Rex.Siphinda futhi, ekukhuleni ngamadijithi aphindwe kabili.Ngokufanayo, emapayipini, sidlula ezinseleleni ezinjalo.Futhi asinayo inselele ekunamathiseleni.Sekudlule zonke lezi zinselelo kanye nokukhula kanye nomkhawulo.Noma kunjalo, asikaze sibe nemingcele engalungile.Lokho kungenye yezinto ezinkulu kakhulu esizinakile bese kuba yizo zonke izinguquko.
Ngisho namapayipi, futhi uma ubona, kukhona umkhombandlela wokukhula okuphezulu.Ngezinye izikhathi siyakhathazeka nakulelo hlangothi futhi.Sihlala sikhuluma nethimba lethu ukuthi, "Ingabe imali yethu iphephile?"Ngoba ngesinye isikhathi, uma uthola ukukhula okuphezulu kunoma yimuphi umsabalalisi othile noma kunoma iyiphi indawo ethile, siba nokuqapha okwengeziwe ngoba lesi akusona isikhathi esihle emakethe, ukwethembeka kakhulu, ngoba imakethe imile.Ngaphansi kwalezo zimo, ukugcina ikhwalithi ye-balance sheet kuyinselele enkulu kithi.Ngakho-ke sihlala sihlola kabili nomsabalalisi wethu, hlola kabili nethimba lethu.Ngolwazi lwethu lwemakethe, siqoqa ulwazi.Ukuthi noma ngabe kuyisidingo sangempela noma othile uthatha i-inventory ephezulu bese kukhona okungahambanga kahle, ngakho-ke sidlala ngokuqaphela okukhulu kakhulu.Futhi yingakho -- ngonyaka odlule, sanciphisa nezinsuku zezikweletu.Futhi ungabona enanini lebhalansi futhi.Ngakho-ke kufanele sibe -- ngivumelana no-Sandeep bhai ukuthi ngezindleko zesikweletu noma ngezindleko zokutholwayo noma ikhwalithi yeshidi lebhalansi, asifuni ukwenza ibhizinisi.Sizokujabulela ukwenza ibhizinisi elincane eliphansi, kodwa sifuna ukugcina ukuthi ibhalansi yethu kufanele ihlale isesimweni esihle.Siyajabula uma ezimbalwa -- noma 3% ukukhula kancane, kodwa asifuni ukuzidela ngekhwalithi yebhalansi.
Bakwethu, lowo bekuwumbuzo wokugcina.Manje sengidlulisela ingqungquthela kubaphathi ukuze bavale imibono.Mnumzane, ngize kuwe.
Siyabonga kakhulu, uSandeep bhai kanye no-Hiranand bhai ngokubamba iqhaza ocingweni.Ngibonga kakhulu.
Siyabonga, Nehal, futhi sibonga wonke umhlanganyeli ngokujoyina le kholi yomkhonyovu.Futhi uma kukhona okushiywe ngaphandle, ngiyatholakala namuhla.Futhi kusasa kuqhubeke, sonke siyahamba siya e-Europe.Ngakho ngiyacela, uma unombuzo osele ngaphandle, ungangishayela kuselula yami.Ngihlala ngikhona ukuze ngiphendule umbuzo wakho.Ngibona kakhulu.
Isikhathi sokuthumela: Aug-28-2019