Stockrabit · Analysts
Questions across 17 calls

Arjun Khanna

Kotak Mahindra Asset Management

SRF Limited

SRF Limited CC-Jun25.pdf · 2025-07-24
Congratulations for a great set of numbers. Sir, I have few questions. The first question is on the N2, N3 regulation for the MHCV side, we have referred to that in a market trends part of it. In terms of R134a, my understanding is we are the sole HFC manufacturer of this gas in India. Is this correct? And what would your market share be at this point in time?
Sure. And just in terms of pricing, while you did allude to R32, given with this regulation, do you see a step-up in terms of demand? And since it's already in the system now, are we seeing benefits from the same?
SRF Limited CC-Dec24.pdf · 2025-01-30
Thank you for taking the question and congratulati ons on a good set of numbers. Sir, the first question is on the AIs. So, we have talked of a better 4th Quarter versus the 3rd Quarter, and in addition, we have mentioned in the presentation that we are on track with the new AIs. In terms of the milestones you would have had internally, are we on track with those, such as samples sent, etc.? Also, you have said that 4th Quarter should be better than the 3rd Quarter, are we also indicating that the 4th Quarter should be better than the 4th Quarter of the previous year, which was actually a very good quarter for us too?
Thank you for that. Sir, the second question is regarding ref gas. So, we have seen a slight uptick in R22 prices in India, and since R22 is a key ingredient in the production of PTFE, are we also seeing an increase in prices in the PTFE market? You mentioned in the previous quarter that we would likely start seeing improveme nts in the 4th Quarter, and from FY26, both grades could perform well. Could you elaborate a bit on what pricing improvements we might expect and what our current utilization rates are? Also, do you expect that by FY26, we could be looking at 3,000-4,000 tonnes or possibly even higher?
SRF Limited CC-Sep24.pdf · 2024-10-23
Sir, the first question is on the HFO piece. So while we have announced INR1,100 crore capex, could you help us with what is the tonnage output that we would get for the same? Have all the patent-related issues been resolved in the sense we understand there were process patents? So if you could talk about that. And lastly, which HFOs are we planning on producing?
Sir, the next question is on the second capex we announced the BOPP-BOPE. Given the current context where we are talking of a weak environment in Packaging Films, just wanted to understand from you why undertake such a large capex given that margins are below long-term trends. Does it indicate that we expect demand to incrementally be much stronger than supply and the market being into balance over the next 18 months to 24 months?
SRF Limited CC-Sep23.pdf · 2023-10-30
The first question is on the Spec-Chem side of it. So, in discussions with our clients, I understand offtake has been slightly lower like you mentioned, given global circumstance. When we have our discussions, is there any negotiation or rethink in terms of pricing of these particular products or that is a discussion that has not come up, given that they are giving profit warnings?
Sure. And in terms of the way we look at the Spec -Chem piece in terms of what growth we would like to generate for it, even post these discussions, do you think that number needs to come down? Or are we yet confident of the 20-plus percent growth that we are targeting?

Balkrishna Industries Limited

Balkrishna Industries Limited CC-Jun24.pdf · 2024-08-10
The first question is while you talk of this slowdown, sir, are we seeing any market share impact? Obviously, sales have been robust in the first quarter. But over the year, do you see an impact to our market share? Are we losing share, or do you think we are largely maintaining or gaining share?
Sure. Sir, the second question is in terms of the capex announced, you've mentioned it for augmenting capacity and also utility infra. Is it possible to give a breakup of this amount?

JK Tyre & Industries Limited

JK Tyre & Industries Limited CC-Mar25.pdf · 2025-05-21
Thank you for taking my question. S ir, the first question is on the Mexico business. So if you look at the revenues in Mexico, while in the opening remarks, you did comment on the depreciation of the peso versus the INR, but there would be a volume decline also. And if you look at the tarif fs, etc. that would have actually kicked in possibly at the end. So could you explain why Mexico was so weak, both in top line and margins for the fourth quarter?
So sir, just to understand this, so in the month of April and May, we have seen almost 20 days. Have we seen sort of a recovery in revenues from the fourth quarter?

Tata Chemicals Limited

Tata Chemicals Limited CC-Dec24.pdf · 2025-02-03
Sir, the first question is just to understand the CAPEX going forward. So, when we had announced CAPEX, we said that if we don't see a 20% IRR, we won't go ahead, given where prices are at this point in time. I am kind of curious, why are we going ahead with the CAPEXs, given that it seems that a 20% IRR seems difficult at this point in time? The second part is if you could give us the timelines. So, while we have done the first phase of CAPEX for U.S., Kenya and India, what are the timelines for the expansion of 400 and 300, 300, 1,000 in salt?
Sir, could you help us with the timelines of U .S., Kenya and India in terms of, is it a three-year period where we expect this CAPEX to be done through? I understand they would be in phases, but what is the timeline for this 1-million-ton expansion?

Coromandel International Limited

Coromandel International Limited CC-Dec24.pdf · 2025-01-31
Congratulations on a great set of numbers. The first question is in terms of supply chain. So we are setting up a new granulation trains. So we had acquired a stake in Baobab Mining. Any other such acquisitions on the anvil? We had talked about securing ro ck phosphate. We haven't seen any such acquisitions or such tie -ups post this one. Would like to hear your comments on the same.
Sure. That's helpful. And at 5,00,000, would that entity be profitable?
Coromandel International Limited CC-Mar24.pdf · 2024-04-29
Sure. Thank you for taking my question. First question just on the Urea SSP. So if we look at the subsidy that we receive for DAP, essentially while you mentioned same ratio that has phosphorous almost 46%, this is significantly lower. So in terms of a sense, it will be a lower price. Is that what we are aiming for?
Sure. Very helpful. So just on this question itself, we talked of Nano Urea and we're using Urea SSP. So essentially are we looking at setting up a Urea facility or this would be bought out Urea which we would look to granulate or the production of Nano Urea?
Coromandel International Limited CC-Jun24.pdf · 2024-04-29
Sure. Thank you for taking my question. First question just on the Urea SSP. So if we look at the subsidy that we receive for DAP, essentially while you mentioned same ratio that has phosphorous almost 46%, this is significantly lower. So in terms of a sense, it will be a lower price. Is that what we are aiming for?
Sure. Very helpful. So just on this question itself, we talked of Nano Urea and we're using Urea SSP. So essentially are we looking at setting up a Urea facility or this would be bought out Urea which we would look to granulate or the production of Nano Urea?
Coromandel International Limited CC-Dec23.pdf · 2024-01-31
Just to clarify, with the latest guidelines, Coromandel will be treated as an integrated manufacturer, would that be the right understanding?
Secondly, there is this evaluation methodology, which has stated that integrated manufacturers, manufacturers and importers of fertilizers will be considered as a separate segment. So essentially, we do import DAP. So would each SKU of import versus manufa cturing be treated separately? Would we have to maintain 2 sets of accounts there?

Exide Industries Limited

Bharat Forge Limited

Bharat Forge Limited CC-Mar24.pdf · 2024-05-08
Sir, I just wanted to understand a little bit on this executable order book. So, if I look at the number in the fourth quarter, the presentation you've talked of Rs. 5,192 crores. And if I look at the second quarter, we have talked of Rs. 3000 crores. So, addition of at least 100 0 crores and obviously we have executed all in the past second half, so which are these major orders that we have won? Is there a follow-on order to the European customer that we had or?
Just wanted to understand in terms of platforms, any newer platforms or its existing platforms which we have been selling?

CEAT Limited

CEAT Limited CC-Mar24.pdf · 2024-05-03
The first question is on the extended producer responsibility part of it. Sir, if you could help us understand why was it just taken this quarter given that it came or was notified since 2022, November? The second part of the question is, are we registered as a manufacturer and recycler or what registr ations have you taken? And in terms of the recycling, is the way of doing it ourselves and reducing this cost base of 1.4%?
Sure. That's very helpful. So just as a supplementary question on this. In terms of EPR certified costs, have you seen an increasing trend? And are they available to the quantum that's required at this point in time?