FY20 con-call highlights -
- Single-digit volume de-growth in FY20. 60-65% revenue share from exports.
- 60% domestic market share. No Chinese imports in India, so no anti-dumping benefits.
- As crude has fallen, some customers have asked for a price revision
- 4 crore MTM FX loss in other expense in Q4
- Capex: Brownfield - 150 crores in Phase 1, 65 crores in Phase 2. Both phases can give 150-175 crores of revenue. Each phase adding 5.5k MT. 50 of 150 crores of phase 1 capex done in FY20, remaining 100 in FY21. Phase 2 expansion will depend on the demand situation post Phase 1 is completed. Maintenance capex: 5-7 crores annually.
- Global: Only OCCL putting up capacity globally. 70-75% of global capacity utilization in 2019 (80+ in 2018). Saw some competitive intensity for the year, though global market share is maintained. North America saw some sales in FY20 but should see major sales from FY22 onwards.
- Future outlook, demand, growth guidance can only be made in the H2.