2008 collapse was banking collapse though USRE speculation was at helm of the collapse. Right now the hands holding USRE are much stronger and not as speculative. US RE can slow down but probably should not break, which is evident from US companies selling their mortgage arms(smart money moved out) and acquirer feeling the pressure in last few quarters. US $ weakness and low oil prices, political turmoil, North Korea can cause similar damage as 2008. Not following Pokarana but was intrigued by the discussion.
@jprasun Since you are starting your life, will advise yo start reading ARs of cos you have invested. Quartz market is really huge
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Does anyone here have year-wise data on quartz and granite capacity and utilization levels. It would be really helpful if someone shares the stats. Thanks guys.
How does Pokarna fare on this issue?
This seems to already have repercussions
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I donât belive IKEA with their stringent sourcing policy would engage with a company like Pokarna if they violated child labour norms. Maybe Pokarna stands to benefit from this controversy.
Any contrary views are welcome.
Q1 results are out. Bad would be an understatement. Management states that the 45-day shutdown of Pokarna Engineered Stone Limited was responsible for the poor quartz segment results.
They informed about the closure in the last concall. Check my notes above. So, muted result was expected.
Dear Mridul,
I have a doubt. Between Breton VS chinese, people say breton is very good tech. But whatâs the diff in product output.
Asian Granito uses chinese and they say that the cost adv is huge.
I really donât know which is a superior product and which one has an advantage.
is tie up with IKEA due to this diff.?
Thanks,
Prasad.
But the guidance was for 15 days shut down while the shutdown was for 45 days, which is unusual.
Probably more clarity will emerge after the concall.
Breton product is better is what the management said and what my friend who deals in quartz trading tells.
I usually never go to AGMs, but because Pokarnaâs is in my city I thought I might go. It would be nice to chat with anyone going too. Please send me a message and we can talk further.
I am glad you are going, plz findout what happened to garments business sale, whats the record date for subdivision of stock, why Granite business struggling even though they promised better topline from Granite this quarter. And most importantly, the Quartz operations were halted fo 45 days??? there was no information about this long shut down⌠please try to find out why, disappointng
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dearâŚplease could you brief us on agm meetingâŚ
After the AGM I wasnât too impressed with the goings on of the company. Other than a macro shock that drives up granite prices, I donât see substantial growth in the P&L until at least 4-5 years down the line. Quartz expansion isnât doing well, the land given to the company has been taken back by the Govt. Whenever land acquisition does happen and the factory completed, breakeven of the factory would take a further 2 years and there will likely be operational delays at first.
Here is a link for an iPad audio recording of the AGM, it starts a few minutes into the Chairmanâs address: (This is an .aiff file and should play just fine in VLC)
Iâll try to keep it up for as long as possible. (Not sure if this is legal.)
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Thanks for taking the effort to attend AGM and updating us .The file is not playing in VLC .Any reason why govt have taken back the land ?
Youâre the second person to tell me the file isnât playing, Iâm not sure whatâs wrong but if more people want I could just re-encode to mp3 or something.
I believe the Chairman said that the Govt wanted to build some Govt building there instead (possible an office building?). Maybe thereâs a small chance of some under-the-counter issues.
Concall is out. Even my feeling is that the stock will be under pressure as land is not decided as yet and post that expansion would take 15-18m to start production and then further 1-2 years to start throwing some meaningful numbers.
Management said that 10% growth in Quartz was still possible in this year while sayin that Q2 would be almost equal to Q2 fy17. How are they going to achieve 10% growth really beats me.
Who knows what the competitive scene will be 3-4 years down the road.
Land is problem, Refinancing is in problem, Granite continues to be under pressure.
Donât hold any shares now, will only consider if available around 900 where the long term trend line support will emerge.
The file played perfectly for me in VLC. I could hear the audio (no video).
couldnât see much growth till q2 2019
till that time bull run might end