Kiri Industries: Loan reduction and demand surge


(DEEPAKSINGH) #41

Kiri Q1 result out:
Beat on both qoq and yoy…

  1. Standalone NP: 30.36 CR Vs 26.13CR(YOY) Vs 25.44(QOQ) …(standalone EPS Q1 10.90/-)

  2. Consolidated NP: 103CR VS 81 CR (YOY) Vs 63CR (QOQ)…(consolidated EPS Q1 37.25/-)

interest cost almost gone after debt reduction.


(shyam.sunder91) #42

Hope the operator stays calm and should not play the game again, can’t trust kiri after loosing due to operator games earlier, after these results i did not see any operator game, earlier un necessarily the stock use to touch lower than 270 and used to come back with out any reason,

still clue less about the dye star case.

who knows even this is also an operator maya


(ASG) #43

Any development on Dyestar case?


(Pramod) #44

Anybody attending AGM ? So that a few of my queries i can add to be asked in AGM


(Marathondreams) #45

While going through AR for 2016-17, I came across interesting point. Consolidated cash flow The company has shown "Share of profit from associate - Rs. 156.11 Cr under cash in flow from financing activity.

I understand company can show 38% of Dystar’s profit as profit from associates under P&L but Dystar has to declare dividends for Kiri (for the same amount) to show under cash flow of the consolidated company. Am I missing something here?

Disclosure- invested with around 2% of my portfolio


(Marathondreams) #46

Shankar Sharma from First Global continues to remain bullish on small cap chemical companies like Kiri

https://economictimes.indiatimes.com/markets/expert-view/i-like-second-innings-companies-i-know-who-is-not-going-to-be-virat-or-sachin-shankar-sharma-first-global/articleshow/61065679.cms

Disclosure - invested about 2% of my portfolio


(DEEPAKSINGH) #47

Strong moves by kiri…but this thread is silent .all exited??
Heard dystar case hearing started and gonna end preety soon…any updates on the same…?

Also any news on hacid n sulphone prices.?

I also Read in news China pollution crack down going at full throttle .good news for indian cos.

Bhageria rrsult on 28th to given hint whats in store for q2 in kiri…exlecting good results as prices were higher by 8-10% during Q2.

Anyone ATTENDED AGM PL SHARE NOTES HERE IS POSSIBLE.
Regards


(Aditya Iyer) #48

Bhageria has posted weak results.

Any update on H-Acid prices on this forum will be useful.


(sumitg04) #49

When is the result of Kiri expected…Invested


(DEEPAKSINGH) #50

They are up by approx 8-10% in Q2 relative to Q1.
Regards


(Pramod) #51

image


(Wolf) #52

Cant understand why fellow valuepickrs are not talking about kiri?!
Results on monday and expected to be bumper.
The long term uptrend of this stock is truly sensational. I expect the dystar issue to be resolved in favor of kiri in the singapore courts in the next 3 months.

Disc: Invested. Will add more im coming week.


(Gaurav Agarwal) #53

Do you have any basis for putting the time line of 3 months?


(Wolf) #54

The matter is in a singapore court as is public info.
The next set of dates are in jan. As per my sources we are very positive. I would reccomend following the blog by a fellow valuepickr it specializes in kiri and is truly brilliant. One can never be certain with a court matter, it could take longer than 3 months.
Leaving the court matter aside the valuation of kiri at cmp is very attractive.


(DEEPAKSINGH) #55

KIRI INDUSTRIES RESULT TAKEWAY:

  1. a)TOTAL SALEs::: 256 CRORE v/s 237cr QoQ and v/s 260cr YoY
    b) NET PROFIT:::::30CRORE v/s 30cr QoQ and v/s 25cr YoY
    c) Excise Duty/GST ::::30CRORE v/s 16cr QoQ and v/s 16cr YoY (due to thisGST FACTOR only NP was flat otherwise it would have broken all records)
    d) EBITA MARGIN %:::::17% v/s 17% QoQ and v/s 14%YoY
    e) EBITA:::::39CRORE v/s 34cr QoQ and v/s 38cr YoY

  2. In the current quarter, exports have grown by53% YoY and 23% sequentially QoQ.

3)KIL has been able to achieve reduction in its outstanding
debt from a peak of Rs.853 Crores to Rs.159 Crores. Though the outstanding
debt of Rs. 159 Crore shall gradually retire by the FY2022, KIL shall not be
required to pay any interest on the said debt as the same is converted into Noninterest
bearing Securing Receipts.

  1. KIL is focusing on organic growth in the Colors business by upgradation of
    facilities, strengthening its product mix and adding dispersed dyes in its portfolio.Capex has already commenced on the Disperse Dyes facility and capacities will
    come on stream in a phase-wise manner over the next year and a half. With these in place, the turnover is targeted to double from FY18 to FY20_. Most
    important, this expansion will completely capital non dilutive: it will be
    entirely funded by KIL’s internal accruals, without resorting to additional
    external debt or new equity.

  2. There has been a structural decline in competition as several Chinese players
    have either moved out of or stopped growing in the product-markets targeted by
    KIL.

  3. Updates of Court Case in Singapore:
    As you may be aware, KIL has filed a case against the majority shareholders of
    Dystar for minority oppression in Singapore International Commercial Court (SICC).
    Trial of witness of the parties to the legal proceedings are in progress and hearings
    were held between November 6, 2017 and November 13, 2017. The further tentative
    trial dates are between January 8, 2018 and January 16, 2018.

COMMENTS INVITED FROM ALL PLEASE


(Gaurav Agarwal) #56

How debt has been converted into non-interest bearing Security Receipt?

Can we keep track of case in Singapore Court? I tried but could not find any online portal of Singapore court!

In case Kiri wins in Singapore what are the legal recourse available to other party?


(DEEPAKSINGH) #57

Go to this Singapore Supreme Court portal – https://www.supremecourt.gov.sg/hearing/hearing-list

here u can track …


(Wolf) #58

Kiri remains a value buy despite the huge volatility. Pls visits quora and read Gopal Kavallireddi view on Kiri. Crisp and concise. The recent fall to 500-525 level has been an oppurtuntiy to add to to holdings.


(Aditya Iyer) #59

Kiri Industries says promoter Equinaire Chemtech acquires 24 lakh shares on conversion of warrants.

http://www.bseindia.com/xml-data/corpfiling/AttachLive/1dd1451a-1e44-4b10-9d7c-3dbcadd0329d.pdf

Can this be viewed as a positive development for the company? As a sign of investors reinvesting their faith in the company?


(Kesavan) #60

The matter is listed for hearing on January 11 2018 before Jus Kannan Ramesh. ( Screenshot provided below)