Quarterly results seems just okay.
No Revenue growth QOQ, this is not expected.
Any idea if there is a boardroom battle going on at Everest? Removal of current chairman from Directorship doesn’t sound right.
Today volume was also very high with reduction in prices, might possibly big investor had sold some part due to removal of current chairman
That is 1 week old news …y will they sell today ?
Let’s see y it has happened …maybe the factory would have undergone debottlenecking …don’t jump to conclusions yet …lets wait for the concall …and also let’s see how the competition has fared .results still looks solid and valuations are decent
First the CFO a year back and now the Chairman. Although we need to wait a few days to seek some proper clarification from the company, I think there might be internal conflict between the management.
Q3 Concall Highlights (source: capital market)
Strong demand from rural market despite headwinds
No obstacles due to issues with NBFCs
Shift from unorganized to organize continues.
Raw material prices have seen some increase in the roofing segment due to rupee depreciation.
Export market continues to remain weak.
The company’s asbestos cement products are more competitive than comparative steel products post GST.
Overall growth rates in building product segment will continue.
Increase in market share across product segment and increased penetration. Gained 100 bps market share.
Pre-election period generally is good for disbursement of subsidy and other benefits. This will indirectly help the entire roofing industry.
25000 MT order book in steel business. Steel business Volumes 13000 MT during Dec 18 quarter were lower by around 5% on YOY basis, but realization was higher.
Boards and panels have seen better volumes in domestic market. Enhanced utilization and better volumes helped margins. Export markets to continue to remain in downturn
Some plants enjoyed duties and taxes which got expired and hence the tax rates are increasing.
Expect margins to remain stable despite headwinds
Any update on “reason for chairman resignation”
In the Annual report company claims “Housing for All” is a big boost and company has great potential to capitalize the opportunities. I couldn’t understand the logic here.
Generally, Housing for all is a urbanization and millions of units are going to be built in urban areas and mostly it will be an multi storied apartment buildings which doesn’t use concept of roofing that company manufacturers.
Or probably am missing something in the big picture. could some one help me understand.
Doesn’t have to be direct from govt …govt may give subsidies or some other schemes to urge the people to build houses …this will help the company indirectly …if u go through the concall of q2…some1 asked a similar question
Here go through this