Stockrabit · Analysts
Questions across 44 calls

Ankur Periwal

Axis Capital

InterGlobe Aviation Limited

InterGlobe Aviation Limited CC-Mar25.pdf · 2025-05-21
Hi. Thanks for the opportunity and c ongratulations for a strong set of numbers. First question on your thoughts on yields, given where fuel prices are and sort of some pass-over there. So how are you looking at yield there? And the commensurate question will be on the spreads, your thoughts there, how do you see them happening over FY '26?
Sure. I appreciate that. Just secondly, a clarification. So, you did mention earlier that overall costs are expected to be flattish for FY '26, if I am comparing FY '25, I am presuming this is ex of fuel cost?

PI Industries Limited

PI Industries Limited CC-Mar25.pdf · 2025-05-20
Hi sir, thanks for the opportunity. First question on the margin outlook for us. Now as I understand pharma losses are expected to go down as we look to ramp up t his business over the coming FY 26 or 2 -3 years. At the same time the Ag-Chem business is going to see more launch of new products, which presumably will be a better margin and still we are maintaining our overall guidance at the same level as FY25. Is it that there is some bit of pricing pass through or maybe some pressure that we are seeing in the older products or if you can help your thoughts over there?
Okay, fair enough.
PI Industries Limited CC-Sep24.pdf · 2024-11-14
First question is on the pharma business here. We have been seeing pretty soft revenues. If we leave out the one -time expenses that we incur in this quarter, but otherwise also the margins have been keeping low. Just trying to understand your thoughts in terms of the volume, whether there's a volumetric decline as well or it is largely pricing and the trajectory going right over there?
Just a follow up there. From a volumetric perspective, is there a signi ficant decline in terms of volumes as well what we see in the revenues and how do you see that picking up?

Navin Fluorine International Limited

Navin Fluorine International Limited CC-Mar25.pdf · 2025-05-09
Congratulations for gre at set of numbers. First question on the gross margin front. Now I'm looking across the three business segments. So CDMO typically is a higher margin business. In HPP, you have the benefit of pricing coming in there , it may not be this quarter, maybe next quarter. So but your guidance is still the similar range of 23% to 26%. So is it the specialty chemical part wherein there is some bit of pricing pressures or maybe some guidance there will be helpful?
Sure Nitin. Just a clarification here. The R32 sales that we are doing, is it largely spot basis? Or these are probably largely on a contractual basis?
Navin Fluorine International Limited CC-Dec24.pdf · 2025-01-30
Congratulations on a good set of numbers. First question on the Special ty Chemicals side. You did mention that the INR540 crores capex, we will be ramping up this project -- the sales on this project gradually. Any timeline you can share when should we expect this business -- this product to reach its optimum revenue run rate? Anish Ganatra Yes. So we had -- when we sanctioned the capex, we indicated peak annual revenue of about INR515-odd crores, if I remember correctly. And we've said that would be done in 2 years from commissioning. I think we still hold that view. So we are in FY '25, FY '27, you should start to see it getting closer to its peak, if not the peak.
Sure. And similar run rate and timeline for the other capexes that we had commissioned, INR235 crores one and INR125 crores. Anish Ganatra INR235 crores and INR1...
Navin Fluorine International Limited CC-Jun24.pdf · 2024-07-30
First question on the Spec chem side. So, the new project that we have announced, Japan based, the customer, Rs. 20- Rs. 30 crores is incremental. The Rs. 40-Rs. 50 crore revenue that we were talking of on the agro side, is it also incremental or is it a part of the earlier MPP that we had commissioned? Nitin Kulkarni No, this is incremental.
Sure. And how about the molecules that we were commissioning on the Agchem side? If I recollect, there were 4 agro and 1 pharma. Are all of them commissioned now or what is the status?

Tata Chemicals Limited

Tata Chemicals Limited CC-Mar25.pdf · 2025-05-07
Thanks for the opportunity. So, first question on the UK part of the business. You did mention one time cost or expenses of around Rs. 55 odd crores for the quarter. But even if I adjust for that, profitability on the business, given the shutdown of Lostock there, looks slightly on the lower end. So, your thoughts on how you are looking at FY26 given that pharma salt also comes into picture in terms of ramp up and the loss-making operations are also taken care of?
Sure, and Nandu Sir, just as a follow up, show any numbers or thoughts we can peg ourselves to, maybe an FY21-22 profitability, sort of a number that we can look at on a steady-state basis?

UPL Limited

UPL Limited CC-Dec24.pdf · 2025-01-31
Congratulations on a good set of numbers. First question on the overall competitive intensity, especially in Latin America, let's say, Brazil. We have shown a YTD growth here. But if you can pass comment in terms of the pricing competition there and the pricing uptake that we have seen, which geography would have contributed to this 5% year -on-year growth that we saw in this quarter?
Sure, sir. And just a second bit, there is - in the minority interest, that number from a negative has turned positive. And similarly, the associate share profit, there is a sharp jump there Q -on- Q as well as Y-o-Y. Just some thoughts there on how to look at both these line items going ahead and for FY '26?

Coromandel International Limited

Coromandel International Limited CC-Dec24.pdf · 2025-01-31
Congratulations on a good set of number. First question on the fertilizer margin outlook. We had highlighted during our management interaction earlier around 40 -odd percent jump in overall fertilizer margin. Just wanted to understand the time lines for it and whether the change in SSP portfolio, the differentiated products that we are making is a top -up to that 40% jump or is it including in that guidance that you had given earlier?
Sure, sir. And just secondly, your thoughts on the Crop Protection business, especially on the export side. The pricing-led competition that we had been seeing earlier, are we now expanding into newer geographies as well? Or the growth focus from crop protection perspective will be largely on India as a market in terms of in-license and combination products and export will be taking a back seat? Your thoughts there?
Coromandel International Limited CC-Mar24.pdf · 2024-04-29
Thanks for the opportunity. First question on the two other new businesses specialty Chemicals as well as the nano fertilizer side. If you could help share some outlook on the capex the revenue time lines and how should one look at these businesses. You did mention on the fluorination chemistries that we plan to expand into but will be helpful to get your comments on maybe new customers and how the discussion with clients is going on over there.
That is helpful. Just a follow-up on that. Did I hear it right, you mentioned 20%, 25% utilization next year? This is on 1 Cr bottle capacity?
Coromandel International Limited CC-Jun24.pdf · 2024-04-29
Thanks for the opportunity. First question on the two other new businesses specialty Chemicals as well as the nano fertilizer side. If you could help share some outlook on the capex the revenue time lines and how should one look at these businesses. You did mention on the fluorination chemistries that we plan to expand into but will be helpful to get your comments on maybe new customers and how the discussion with clients is going on over there.
That is helpful. Just a follow-up on that. Did I hear it right, you mentioned 20%, 25% utilization next year? This is on 1 Cr bottle capacity?

Deepak Nitrite Limited

Deepak Nitrite Limited CC-Sep24.pdf · 2024-11-14
Congratulations for the tech tie up here. Just seeking some more clarifications here. Earlier, we had gone ahead and set up that the pilot compounding plant, the polycarbonate compounding plant to be sure of which segments we want to get into. And if I hear you right, with this technology, although you mentioned it's slightly dated, it's safe and ability to enter into multiple end use segments. So just trying to understand, are we focusing on much larger addressable opportunity now versus what you were thinking of earlier? And the tech team or the tech support from Trinseo, will it be supporting us in terms of ramping up all these investments?
Sure. That's helpful. And just a clarification, the royalty payment that we have made.
Deepak Nitrite Limited CC-Mar24.pdf · 2024-05-22
To start with, just one clarification. On the tech part, which you just highlighted, the technology for PC compounding and the specialized applications , last part of tech is in-house, or we are open to have a global tie-up as well, when you were saying, the work on tech etc. is ongoing?
And just in between you mentioned that the customer feedback etc. is very positive on the products. That reference goes towards the AI part of the business or towards the compounding part itself, wherein probably we would have already started some dialog there.

Clean Science and Technology Limited

Clean Science and Technology Limited CC-Sep24.pdf · 2024-11-07
Yes. Hi, Siddharth. Thanks for the opportunity and congratulations on a strong revenue growth there. Just on sales, while you did mention volume-led growth across performance and FMCG and Pharma , any Q -on-Q further decline in pricing or we are largely stable there across Performance as well as HALS?
Sure. And the comment that you earlier made in terms of focusing on market share gains, with the RM prices coming down now, is there any price cuts taken by competition? Or they are probably still holding on to the earlier pricing and hence, more market for us to gain?

Aarti Industries Limited

Aarti Industries Limited CC-Jun24.pdf · 2024-08-12
First question is on the margin outlook here. You did allude towards the volatility expected given the macro that we are in. Just trying to break this up into two parts; one is the end use mix wherein energy is a bigger contributor now. Going ahead, do you expect energy to be as high a contributor or probably given maybe dye segments, agro, other segments pickup, this segment share will come down a bit?
So, the volatility probably can continue for let's say one, two years, let's say '25 and '26 and beyond that maybe things will pick up? So, just moving to the next one, so on the CAPEX guidance that we had, there's Rs.15 to 18 billion CAPEX is for FY'25 only or is it an annual run rate that we should presume now?
Aarti Industries Limited CC-Mar24.pdf · 2024-05-13
First question on working capital side. If you can highlight while on receivables, we have seen an absolute reduction but inventory and overall working capital in terms of number of days remains slightly higher. So your thoughts there in terms of outlook?
Sure., sir. Secondly, on the capex side, while we did mention INR 1,500 crores to INR 1,800 crores and if I hear you right in the opening remarks, you did mention some bit of this capex will be for revamp of the existing project, so just any broad thoughts in terms of what could be the potential revenue that we are looking at here? And how much of this capex will be going into replenishment?

SRF Limited

SRF Limited CC-Mar24.pdf · 2024-05-09
First, on the chemical side and in our release, we did mention pricing led pressure because of excess capacities at China end. So just wanted to get your thoughts in terms of growth, is it that now the overall trend in pricing has come down and we are focusing more on volume led growth, which will drive the growth across both ref gas as well as the Specialty Chemical side?
Sure, sir. Just to follow-up. So no changes to the overall Chemicals business margin guidance, will that be a fair assumption?