I found the Q3 Concall details, as below. Will be good if someone can post the Q4 Concall details.
tcx
Conference Call
Vinati Organics
Expects Capex of Rs 70 crore for FY’13
Vinati Organics announced the results for the quarter ended December 2011 and held a conference call on 03rd February 2011 to discuss the results and its future growth strategies. The Key takeaways of the call are as follows.
Financial Information:
Net sales grew by robust 35% to Rs 116.48 crore for the quarter ended December 2011.
Also, OPM expanded by 190 bps YoY to 24.9% leading to strong 46% growth in operating profit to Rs 29.40 crore. Consequent to the 48% rise in interest cost coupled with the marginal 2% decline in the depreciation to Rs 1.81 crore there was 51% growth in PBT before forex gain to Rs 25.77 crore. Adjusting for forex loss Rs 1.46 crore compared to forex gain Rs 0.09 crore in the corresponding previous period there was 42% growth in PBT to Rs 24.31 crore. However, the steep rise in effective tax rate by 1740 bps to 33.9% curtailed growth in net profit to 12% YoY to Rs 16.06 crore.
Highlights of the Call:
The ATBS sales were at 2700 MT in Q3’FY 12 compared 3000 MT in Q3’FY11. The fall in sales was on the back of shutdown of plant for 10 days during the quarter.
Further, the realization was at Rs 180 per kg for the same period. However, it indicated that has resolved the issue and going forward expects the normal growth in business.
The IBB sales were at 3900 MT in Q3’FY 12 compared to 2900 MT in Q3’FY11. The realizations were at Rs 120 per kg compared to Rs 89 per kg in the corresponding previous period.
The IB sales were at 1000 tonnes for the quarter ended December 2011. The realizations were at Rs 100 per kg compared to Rs 85 per kg in the corresponding previous period.
The robust growth in sales during the quarter is on the back of increased contribution from the IBB and improved realizations from all the three products.
It indicated that the demand continues to be robust for the ATBS and IBB going forward.
The EBITA margins from the ATBS were at 25% in Q3’FY 12 compared 23-24% in the Q3’FY 11. Also, for IBB margins were at 20% during the quarter compared to 14-15% in the corresponding previous period. Further, the Margins for the IB were at 20% in Q3’FY 12 and at similar levels in the corresponding previous period.
The Di Acetone Acrylamide (DAAM) capacity of 1000 MT expected to be completed by April 2012. Also, the expansion of TBA capacity of 1000 MT expected to be completed by June 2012.
The PAP project which was to be started during the quarter is further delayed.
The Company plans to fund the expansions scheduled going forward through debt and internal accruals. The debt is at Rs 160 crore as on 31st December 2011.
The Capex expected to be Rs 60 crore for FY12. Further, The Capex would be Rs 70 crore for the FY’13 and expected to raise Rs 40-45 crore through the Debt.
The Company expects revenues of Rs 400 crore in FY’12 and 600 crore in FY’13 with similar margins.
Further, it expects revenues to be Rs 1000 crore by the FY’15.