Questions across 4 calls

Himanshu Upadhyay

O3 PMS

The Great Eastern Shipping Company Limited

The Great Eastern Shipping Company Limited CC-Dec23.pdf · 2024-01-31

My question is regarding what we stated about replacement. The first question here on call also and in the last one also, one of the observations was, in last five year, whatever ships we have acquired have been generally ten-year-old from 2018 onwards. And generally, we want to mean crude carrier product and we are outside India or operating most of our ships outside India. Generally, clients don't want to be in ships beyond 16 -17 years. And then we need to replace them or find some other opportunities for them. And again, if we are buying ten years, so what we are having is only five to six years of ability to charter those ships. That is one point. And the second is generally, let's say, this market…

The question is, on the fleet renewable. One of the observations which…

The Great Eastern Shipping Company Limited CC-Sep23.pdf · 2023-10-31

My first question is, see I could understand the rationale for dry bul k, okay what we did . But I wanted to have more clarity on MR tankers. See, what I wanted to know is that if we look at the prices of tankers, they are at the highest decile in the last 10 years or maybe even 15 years okay. And we have stated that charter rates are generally high at the peak. And hence, evaluating cash flows is not the best metrics. Because the cash flows are high and hence you can justify but they can even revert. So, what was the thought process in the purchase of this M R tanker because if we look at the valuation multiple or let’s say value you cannot say it is the lowest decile or the worst quarter in terms of cash flows also, so some clarity on that.

And what is your view on crude tankers also, because we are at one of the lowest fleet in last 10 to 15 years on crude tankers. And the asset prices there also are very high , so any thoughts on that, how are you evaluating that market?

Sobha Limited

Sobha Limited CC-Sep23.pdf · 2023-11-07

My first question is relating to the margins only we are backward integrated comp any. We do our construction on our own and even manufacturing of some of the things and still our margins are pretty low, s hould not our margins be much higher over a period of time and is there any scope to improve the efficiency and cost and what are you doing to improve your costs or efficiency at the overall level I am not talking about just last four, five quarters, just a longer term thought how do you look at your margins and what can you do to improve it internally?

Secondly, Ahmadabad has become an important market for us. We are seeing 4% to 5% of sales from that market and the realizations are better than what we are doing in Tamil Nadu means the average w hat we see on the 10% higher end. Again, 10% lower than Bangalore, i s i t a sustainable market and we would like to grow in a new market like that or do you think it is only a one off and once with 7,77,000 million or 1,000 square feet gets sold it is no longer a market for us?

Apar Industries Limited

Apar Industries Limited CC-Sep23.pdf · 2023-10-26

Congrats on good set of numbers. I had a question on this oil itself or the base oil what we stated d espite that we had a phenomenal volume growth rate of 18% so the impact was completely moderating and how much are the spot prices higher versus long term prices generally are they significantly higher?

See my question is what we have seen crude price have moved up in last three four months, our price is formula based with a lag of one month time so what you will be getting now will be the lower price point or it would be from what the curren t price is whatever volume?