@ ateek and abhishek, thank you for your kind words.
On big order at USA plant – Company has dispatched sample quantity to clients and waiting for their revert (reference concall). My understanding is it takes ~2 quarters for test samples to crystallize into final orders. So they might flow in Q1 FY2017
Yes, it’s a fair assumption that if crude stays at same level then margins will at least stay at same levels! Numbers support this hypothesis and I had asked this question on Q2 concall also specifically.
On shifting of orders to USA plant, not sure if this is happening. However, in that case actually margins will bump up as in USA for commodity products also RM/sales ratio is 30% i.e. gross margin of 70%!
I share the concern on flat sales. But only solace is that management candidly admits (and financial numbers also stand by it) that they are focused on profitable franchise rather than sizeable franchisee.