The concall transcripts have been put up on researchbytes.
Broadly management sounds confident about the rabi season prospects in view of good monsoon and higher water levels. Company has a vast product portfolio and it addresses most of the crops and company is confident of giving much better results as compared to fy 13 for fy 14.
Working capital management has improved if compared to the quantum of sales growth.
Long term debt is nil…
A new innovative first of its kind product is to be launched probably in q3 fy 14 or latest by q4.
Company has tie ups with 4-5 US and Japanese companies each for marketing their products.
Two new products launched in September … maxyield and media super… first is plant growth regulator and second is insecticide.
Company stresses it is mainly a marketing company but its edge is its distribution network and Pan India reach.
There has been good margin improvement in this quarter and company is likely to surpass fy 13 overall margin comfortably. Margins are mainly dependent on the kind of products that move strongly.
Expansions are on track and fy 15 should show meaningful contribution from expansions.
% imported raw material for first half was 43%.
Price hikes of 5-6% taken before kharif season. this took care of impact of adverse currency movements.
Dividend policy… management has decided to give 25% payout…minimum.
Effective tax rate for full yr is 26%.
Company was very reticent about giving individual product revenues…