Very average results.
http://equitybulls.com/admin/news2006/news_det.asp?id=229966
Result concall today.
Day/Date: Friday, 1
st June 2018
Time: 4:00 pm
Primary Number:
+91 22 6280 1309
+91 22 7115 8210
Can some one tell me whats is the segment wise breakup at the Ebitda level(Not revenue wise). Or if someone has the ebitda magin breakup segment wise.
I just want to understand what amount of profits they make from each segment, but I am unable to find segmental breakup.They have given breakup revenue wise but its of no use as I dont have Ebitda margins segmental wise. What amount of realizations they have segment wise.
It will be of great help if some one can give the same.
Decent results. Approximately 25% increase in topline and profits for the half year as compared to last year. Yearly EPS can be between 15-17. Stock is currently trading at 12-14 PE which is fair.
More than decent I would say outstanding result if we compare last few quarter. Both q-o-q and y-o-y it is in growth trajectory. Hope long consolidation will be over now. Hope to see some MFs will notice this performance.
Is anyone tracking this company? What are the prices of vinyl sulphone and H-acid at present? Are China production back on track?
Again very good set of numbers posted by company. Not sure why stock price is continuously in pressure. Management also communicated that Company is looking for inorganic growth.
Thanks for posting the results. They had bought some land last year, I was expecting them to utilize it for expansion apart from the inorganic growth avenues. Let’s wait for the concall.
Promoter takes another bite from the market. 44,500 shares acquired on 15 Feb.
He has accumulated ~2% from market in the last 6 months.
Board meeting on Friday, 15 March to approve an investment proposal.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/842fb3d5-8621-4b6d-a0b8-0bde88f8c163.pdf
Looks like we will have some clarity about the investment mentioned in the Q3 results.
This will double their fertilizer (SSP) capacity from 200,000 TPA to 400,000 TPA.
Price is in line with Kisan Phosphates acquisition which was ~9 cr for 100,000 TPA.
The company revenues majorly comes from Dye Intermediates and Dye - 84% and Fertilizers - 14% and rest from Saleable acids and Cattle feed
Capacity
The company intends to built units for Ancillary textile chemicals and to become a one stop for textile solutions but no expansion plans as of now and the management would like to keep the moves secret.
The dyes Division should have a capacity util of 75-80% which should contribute to 130-140 Cr (From Earnings call)
H Acid price has reached to a level of almost Rs.410 to Rs.415 and the chairman personally expect it to go to Rs 425-430,
The exports have grown to 73 Crores from 23 crores. - This will increase the receivable days (usually in the case of exports) which will increase in the working capital needs (But no significant changes in the debtor days).
The company plans to spend 150 cr to expand Dyes intermediates which will increase the revenues close to 250 Cr (175 Cr in First phase and rest in second) which should increase the bottom line by at least 10 Cr if 50% if sold outside apart from the captive consumption
The company has ended marketing tie up with DCM Shreeram and started own marketing and sales team in the northern india.
Sulphuric Acid plant in haryana will be able to product 125 Tonnes/day and cost of sulphuric acid per tonne is Rs 7500-8000 and the setup cost of this plant is 10 Cr. (50% captive and 50% sold outside)
The changes in the price of dye intermediates will take around 2 months to reflect in the dyestuff prices.
In H-acid and Vinyl Sulphone the company has higher single digit market share in India.
FY 2019-20 dye intermediate sale is 3158 metric tonnes and our dyes sale is 2765 metric tonnes for the nine months. In value terms it is Rs.172.95 Crores in dye intermediate segment and dye segment it is Rs.81.05 Crores.
From the Earnings call observation it is clear that the company wants to become a unique product supplier than becoming a commodity player.
GROWTH ANALYSIS :
MANAGEMENT :
SHAREHOLDING PATTERN
RISKS
VALUATION :
NOTE : I haven’t invested in the company, Your POV is welcome and please write if i have missed something.
CFO Mr. Ratan Jha resings, no specific reason has been given by the co as of now. b2e50db1-2e0e-404a-a98e-9c2fc37d1c11.pdf (341.8 KB)
The share has come down to one hundred levels. Any issues?
Dyecol launches in Bangladesh. Company looking to enter South America and Turkey as well before new capacity comes online .
https://www.cnbctv18.com/market/stocks/market-expert-sp-tulsian-bullish-on-chemical-space-bearish-on-2-aviation-stocks-4962071.htm - Updates from SP Tulsian
Dye intermediates seems to be positive and have beneficial to companies involved in creating such chemicals. Shree Pushkar might benefit from this as they stand at 69% capacity utilization at 8986 MTPA for dye intermediates : https://www.tijorifinance.com/company/shree-pushkar-chemicals-fertilisers-limited
Not sure who might be their clients on domestic front & internationally, any idea about their supplies and order book as in to whom they deliver the product and the price cost compared to Bhageria & Kiri?
Anyone who attended earnings call two days ago? Looks like they havent uploaded the transcripts yet.