Sumitomo Chemical India Limited CC-Nov25.pdf · 2025-10-28
So I mean, looking at your last 3 or 4 years of sales and margin data. And I think to give credit, you have done a really good job on the margin front. On the sales growth front, especially now if I break that down into domestic and exports, on the domestic for the last 3 years from FY '22 to '25, sales have grown at a CAGR of about low single digits for the last 3 years. And this year also looking at how H1 has gone -- I mean, for the 4th year period, it will still be in the low single digit to mid-single-digit kind of range on a CAGR basis. Now when I compare this to the peers, who operate in domestic segment solely, the company that is going for listing soon and other companies that have already been listed, our growth seems a bit subpar. So I mean just wanted to get your sense on what is holding us back here really? And what has changed in terms of the strategy to improve growth in the domestic segment going ahead?
Understood, sir. This is helpful. Secondly, on exports, I think for a long time, there's been talk of the plant at Dahej being coming up and for some reason or the other earlier due to the weak external -- weak overall market situation in exports. And then after that also, there's been a pretty slow process, I think, in some way, looking from outside , then in terms of the traction and progress there. So I mean, what can be done to really speed up that? Because now you're saying CY '28 is when manufacturing will -- I mean, sales should actually start seeing from then -- when you've seen announcements made, I mean, as far back as a couple of years back. And then along with that, in terms of exports at the parent leve l, apart from semiconductors, we also have display chemicals, pharma, some other few segments there. So are we looking to also bring those segments' share from the parent level into India? And then within India operations, will those be operated through the listed entity itself? Some clarity on that? Because this INR2,000 crore cash that we have, that should get utilized in a much better manner, as you also rightly said earlier. So some clarity on that, please?