This was a very insightful video! Thanks for sharing! At around 35 mins Mr.Jain talks about the new plant and status. Its strange that company has stopped conducting investor conference calls. Hard to get business updates.
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OPM is at record level, so I guess the fall in output is still due to Note#5 in the consolidated results
(covid related effects), overall it seems about 2-3 weeks of production was lost. If margins are good, this means market is not under pressure. So it should be choice ( c ).
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Yes that makes sense and I also got to know that company is facing issues at port which is why they are not able to ship their product and production is a little less. Well the company has shown too many dreams to investors and I hope they deliver on it.
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The numbers have improved sequentially but still India is losing market share to Vietnam, Malaysia and Thailand. I think either China is diverting itâs produce through those countries or new capacities have been added there.
Regards
Kanv
Disc. Invested and biased
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Hereâs a presentation I did in ValuePickr Carolina group for Pokarna. Feel free to ask any questions/ provide feedback, corrections.
Pokarna Ltd Final.pdf (884.2 KB)
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Quartz countertop exports from India-
Octâ20- $25.7M
Octâ19: $21.9M
Growth- 17%
US Total Quartz Countertop Imports-
Octâ20: $126M
Octâ19: $112.7M
Growth- 12%
India Share-
Octâ20: 20%
Octâ19: 19%
Next Top 5 Countries Share in Octâ20-
Vietnam-17%
Spain- 14%
Malaysia- 8.5%
Canada- 8%
Israel- 7%
Source: Trademap
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Hi Ayush, Can you please give the link of this information or how you extract this informationâŚthis will be really helpfulâŚplease help
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Pokarna to be moved to z category due to compliance issue. Compliance regarding independent directors / composition of the board. Does anyone have any further insights of the ramificationsâŚ
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Couldnât find any link. Can you share the link please.
Regards,
Raj
Saw this rumor on moneycontrol thread:
Reason seems to be that they need a woman director on the board before end of this month.
Whereas BSE website shows a woman Executive-director on the board.
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Apparently they needed an independent woman director, which has been done now!
So, hopefully they come out of Z category soon!
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I did an analysis on data that I got from paid source. The data shows that Pokarna hasnât lost its biggest clients even in Corona however the sales have slowed down considerably. The issue looks like to be of Container unavailability or production. If any boarder can help in contacting the management then it could be of great help.
Regards
Kanv
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India is the sector leader for month of October export :
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Hi All
Please help me on below points
- How to get exports of quartz in December
- How to know when the new plant will start âŚsent couple of emails to management no response received
If you have any info⌠you please advise
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Noticed below audio âthe last audio on QuartzâŚLot of capacities are coming up with in USAâŚ
Will this be threat to Pokarna ⌠Experienced people can guide on us on this.
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Hi All,
I was going through AR20 of Pokarna and came across couple of softer points which I feel are helpful and provide some qualitative insights.
Like some senior VP members have covered in their presentation on Pokarna about one of the benefit of quartz over granite is that quartz players give warranty to their customers.
So, pokarna has been provisioning for these warrantiesâŚand of the 8 Cr fund setup so farâŚjust 16 lac has been used. These might be very small numbers in the overall scheme of things. But, if you think about itâŚthis also gives a sense of the good quality that Pokarna & Bretonstone deliver to their customers. Given that out of the 8 Cr provisioning that the company has made till date, they have used only 16 lac to settle customerâs quality claimsâŚwhich means just a 2% failure rateâŚthis is very impressive!
Other than thisâŚby looking at various small line items I get a sense that company might be facing some cash crunchâŚwhich is very usual given the size of their balance sheet and the capex which they have taken up.
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Company has not been spending their due CSR expense.
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Company is provisioning very high salary for the promoters but is not paying out the entire salary. Similarly, the interest on the loan extended by promoters is not being payed out. Both these line items can be seen piling up for last few years in the related party payables section.
IMHO, these arenât very serious issues at the moment. But, these are some good points to keep a track off, so that we are able to timely judge if this debt heavy capex is working out as per the plan or is it getting out of hand with potential to drag down the overall business.
Look forward to any thoughts that other members might have on it.
Regards,
Yogansh Jeswani
Disclosure: Not Invested, tracking.
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Q3 results, any views? Sales have gone up 33%, PAT doubled (yoy). Granite sales have been flattish, quartz have gone up âŚbut down qoq. Stock seems to be reacting negatively.
My first guess is this is a fallout of the shipping crisis, since granite and quartz sales QoQ are affected in roughly similar proportion. To be precise, Granite sales realization drops 20% and Quartz sales realization drops 12%. (likely, they preferred shipping quartz due to better margins)
Wondering why some companies are affected more and others seem not at all disturbed by this container crisis thing, if indeed that is the cause. Maybe some shipping routes and ports are more affected, could be that eastern India is more affected since China seems to be the reason for the backlog. That can continue for some more months it looks like.
Management has better luck now since the extreme turbulent times of past 1-2 year, and should communicate more in order to be stake-holder friendly.
Disc: invested
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