@aveekmitra @varadharajanr Hi Aveek. Thanks for sharing this data. I managed to get some data on Spica. There is some discrepancy in the sales number in what you posted and what I have. Nevertheless, sharing my findings below:
- Premco clearly stands out in terms of Margins and growth. Spica used to be doing earning fairly good RoE’s but post FY11, there numbers have been pretty poor. Spica set up their Vietnam subsidiary in 2011 and was operational in 2012. Their performance also started to decline post FY11. I am not sure those two points are causal in anyway, but maybe worth checking if the Vietnam plant is really a game changer for Premco, given Spica’s performance since FY12
- Kohinoor Elastics is doing pretty well too. As per their FY13 data, they exported 46% of their sales. In FY14, exports on an absolute basis declined marginally for them. If we can speak to someone there…to understand where do they operate, what do they think of Premco etc.
