Stockrabit · Analysts
Questions across 22 calls

Rohit Nagraj

B&K Securities

Sumitomo Chemical India Limited

Sumitomo Chemical India Limited CC-Nov25.pdf · 2025-10-28
Sir first question is , we had the initial five products for the capex of INR120 crores with the potential revenue of about INR200 crores to INR250 crores. How much of that we have realized maybe in first half? Just to understand what could be the potential growth from these molecules? And a similar question, the new capex plan that we have announced of INR55 crores plus INR10 crores, what is the kind of asset turn or revenue potential from this capex?
Sure. That's helpful. Second question is in terms of commentary, we have said that during the quarter, we had seen -- although we have done very well in terms of working capital and in terms of no sales returns, there has been excess inventory in the syst em and obviously, there have been working capital pressures. So just wanted to get a perspective as to whether this will have any impact on the volume growth for the next season as well? And how has been the Chinese imports coming to India during this Kharif season compared to the last Kharif season?

PI Industries Limited

PI Industries Limited CC-Jun25.pdf · 2025-08-13
Thanks for the opportunity. So, first question is in terms of our guidance. So, given that the 1st Quarter has been relatively muted, and if we were to get to maybe middle single-digit growth for FY26, we will have to grow by about 9%-10% for the rest of the year. What gives us confidence given that we have also just spelled out in terms of headwinds in domestic channel inventory plus the biological ratio? So, is it backed by certain firm orders on the CSM side? What is our thought process on this? Thank you.
Thank you. The second question on the PIOXANILIPROLE role. So, in terms of commercialization, what are the timelines that we are looking at, given that it's finding good results in phase III trials? And in terms of the marketing on a global scale, what are our thoughts currently? How are we going to go ahead with it? Thank you.
PI Industries Limited CC-Dec24.pdf · 2025-02-07
Thanks for the opportunity. My first question is on the pharma products that we were developing under PI umbrella before the acquisition of the new pharma business. What is the progress of that? Have we seen scaling up of those products which were under our R&D into the new facilities? A nd a concurrent question on the pharma business is, where are we currently in terms of the margin profile, both on gross and EBITDA level? How are we foreseeing it in the future, given that at least the top-line seems to be increasing over the last two, three quarters? Thank you.
Sure. That is helpful. My second question is on the three areas that you mentioned, and Singhal sir also mentioned, into pharma, CRDMO, electronic chemicals, biologicals. So, currently where are we in terms of maybe revenue or probably number of products into each of these areas? And maybe three years down the line, how are we looking to shape up these verticals in terms of the overall contribution to our revenues and the number of products under each category? Thank you.

Acutaas Chemicals Limited

Acutaas Chemicals Limited CC-Jun25.pdf · 2025-07-30
Congrats on good set of numbers. Sir, first question is on the South Korean investment. So do we have this exclusive partnership? And in terms of geographies, are we only looking at Korea and Taiwan or we'll be able to market those products across different geographies given that even U.S. is now going for semiconductor manufacturing. So can we sell the products across different geographies?
Okay. And second, in terms of the structure of this particular business, I mean we have not given what is the potential. But from the addressable market size for the chemicals, which will be manufactured here, what is the potential size currently, we know that the growth will be probably in double digits. But as of now, what could be the addressable market?

Tata Chemicals Limited

Tata Chemicals Limited CC-Jun25.pdf · 2025-07-25
Thanks for the opportunity. It might be slightly repetitive question, but I am just referring to our Q3 presentation where we have given the expansion project pipeline. Soda ash India, 3.2 lakh tons, silica 0.6, soda ash U.S. 4, soda ash Kenya 3.5 and bicarb U.K. 1.8. So, given the current circumstances, are there any deliberate delays on these projects? And what are the timelines that we are seeing for all the 5 projects , and the overall CAPEX as of now, which is envisaged for the same? Thank you.
Sure. That’s all from my side. Thank you, and all the best.
Tata Chemicals Limited CC-Mar25.pdf · 2025-05-07
Yes, thanks for the opportunity. So, first question is in terms of the Chinese demand. So, we have seen that last year also it went up by double digits. For 3 months or so, in your commentary you said almost 18%. So, any understanding as to which segments are driving this demand? And probably at certain point in time, there could be a backlash in terms of the user segment, there will be higher inventories and subsequently demand slowdown for soda ash, just your comments on that? Thank you.
Sure, thank you. Also, second question in terms of the India domestic market, how are we foreseeing both the availability of soda ash in the domestic market and the exports? And concurrent demand side, which are not segments are actually showing the good traction? Thank you.
Tata Chemicals Limited CC-Dec24.pdf · 2025-02-03
Thanks for the opportunity. Sir, first question is on the UK Soda ash plant, which is likely to be ceasing to exist. So, it has got a capacity of 400,000 tons. Effectively from this quarter onwards that entire capacity will not be available, and which also means that the 1 million tons we are targeting to add about 400,000 tons is just to replenish the soda ash capacity of UK which is going out. Thank you.
Fair enough. And the second question on the specialty products front. So, we have seen that this segment has barely been able to make any money at the EBIT level. So, any specific reasons for the same?

SRF Limited

SRF Limited CC-Jun25.pdf · 2025-07-24
Congrats on good set of numbers. Sir, just one question on the agrochemical intermediates capacity new capex that we have announced. In terms of margins for the product , will it be in line with the company-wide specialty chemical margins? And an allied question to that, in terms of the capacity it seems a large capacity, but at any point in time in future, will it be fungible? I mean you said it's a nameplate capacity, so, will it be fungible at any point in time?
Sure. In terms of capacity, you said that the 12,000 tonnes capacity, it's a nameplate capacity, and we may reach that level or we may not, but we have taken an approval. So, at any point in time, is the capacity fungible for any other products? Or will it always be a dedicated product till the life cycle of the final year?
SRF Limited CC-Mar25.pdf · 2025-05-13
Congrats on a strong Q4 and FY25. The first question is in terms of the EBIT margins that we have done for FY25, given that you have explicitly said that there was pricing pressure on the specialty chemicals front , so is it safe to assume that the margin expansion is predominantly from ref-gas volume growth as well as the pricing increase that has happened during the course of the years?
Sure. That’s helpful. And second, just a minor question that the margin s that we have reported for the Chemicals business, about 25% EBIT margins for FY25, is it safe to assume that we will be able to at least maintain and better it in FY26, given that conditions probably will further improve from the industry perspective?

Gujarat Fluorochemicals Limited

Gujarat Fluorochemicals Limited CC-Mar25.pdf · 2025-05-27
Congrats to see that margins have expanded and Y-o-Y numbers have been pretty good. Sir, first question is on Fluoropolymers. So last time, you had indicated that we'll be able to optimally utilize the Fluoropolymers capacity by end of FY '26? And just now you also alluded that we have a relatively good visibility on the same. When we are talking about the INR 400 crores of capex on the legacy business, does this also include Fluoropolymers because beyond FY '26 if we are optimally utilizing, you will need additional capacities to cater from FY '27 onwards? So just your thoughts on this?
Got it, sir. Sir, second question on the EV part of the business. Given that we have already submitted commercial samples, we've received approvals for most of the products. Can we envisage a sizable contribution from the EV subsidiary in FY '26? And obviously, that will further scale up in FY '27?
Gujarat Fluorochemicals Limited CC-Dec24.pdf · 2025-01-29
Sir, first question is you mentioned that fluoropolymers optimal capacity utilization by end FY '26 and probably you will give us what will be the capex for FY '26 and FY '27. How much gestation period will it take for the capex to fructify in case those capacities are being completely utilized in FY '26?
Yes, my apologies. My question wa s for the next leg of growth, if we were to put up capacity because those capacities will get consumed in the next 1 year, what is the time frame that we are looking at for either debottlenecking or adding the new capacity?

Grasim Industries Limited

Grasim Industries Limited CC-Apr25.pdf · 2025-05-23
Sir, my question is on the chlor-alkali business. So, in the earlier question, you alluded about the chlorine situation being on the long side. Given that the chlorine will be captively consumed for PVC by the new players and there will be long on the caustic side, what's your perspective in terms of the ECUs, whether structurally the ECUs will be closer to, say, 30-plus prices or there is a possibility that the current kind of ECUs and slightly improving trend, we will be able to see even after those capacities come in?
Sure. Got it, sir. And second question is on the ECH front. So, the ECH guide that is coming up, will it be completely suffice for captive consumption? And if so, will there be additional requirement which we'll be taking from the market that we are probably currently doing?

Navin Fluorine International Limited

Navin Fluorine International Limited CC-Mar25.pdf · 2025-05-09
Thanks for the opportunity.and happy to know that we have achieved the 25% exit EBITDA run rate. First question is looking at the balance sheet, we have a gross block of around INR3,000 crores, what is the kind of asset terms on an aggregate basis, we are looking from this gross block. And normal circumstances, when can we achieve that peak revenue potential?
That explains. Sir, second question is, in the last few years, you've seen that we have become a partner of choice for manufacturing for the global majors. There is a tech transfer also happening and our capabilities are also improving to that extent. But beyond the tech transfer and the manufacturing that we are doing, how are we shaping up our in-house R&D or rather, which are the user segments where we are developing certain technologies or products, how that effort is shaping up. And when can we see new products being launched from RPT for the global markets?

Paradeep Phosphates Limited

Paradeep Phosphates Limited CC-Mar25.pdf · 2025-05-08
Sir first question is on phosphoric acid. So currently we have 0.5 million tons of capacity. Are we currently using the entire Phos Acid for our fertilizers? And the second question is , the additional 0.2 million ton s which we are adding that will be sufficient for how many years in terms of the growth that we are targeting. Thank you.
Sure. And second question in terms of the battery grade Phos Acid, so any comments on that , from your side. Thank you.

Coromandel International Limited

Coromandel International Limited CC-Mar25.pdf · 2025-05-02
Yes. Thanks for the opportunity and congrats on good set of number. The first question in terms of the R&D capabilities for both Coromandel and NACL, so whether there is any complementary impact on this? And in terms of incremental product development o r funnel, are we going to optimize the effort given that now we are a same Company and there could be some overlaps which might be there. So just brief about that would be helpful. Thank you.
And in terms of the number of personnel in both the companies, how are they in terms of PhD etc.?

Deepak Nitrite Limited

Deepak Nitrite Limited CC-Dec24.pdf · 2025-02-17
Sir, the first question is on the Phenolics front. So, two parts . One, during Q3, did we have any inventory losses? And second part, regarding the planned shutdown, after the one that occurred in Q3, will the next one be scheduled after one and a half years?
Sure. Sir, second question on the Advanced Intermediates. You also alluded that there was a stubborn RM price environment, was it particularly for some of the imported products given that generally over the last few quarters the chemical prices have been stable? Or is it impacted by a certain few set of intermediates or few set of raw materials that we purchased?

Anupam Rasayan India Limited

UPL Limited

UPL Limited CC-Dec24.pdf · 2025-01-31
Congrats on good set of numbers. Two questions. First thing that we have seen a very serious tightening of working capital over the last few quarters. If the competitive intensity increases incrementally, is there any chance of it getting loosened or is it an irreversible process and this will be the normative working capital that we will be following incrementally?
Got it. And second question is on the margins front. Given that I assume most of the efficiencies are already embedded in current margins , there is a little scope for further improvement. Obviously, it's a continuous process, nonetheless. But in terms of incremental scope to expand the margins, it's relatively limited. Is that assessment correct?

Clean Science and Technology Limited

Clean Science and Technology Limited CC-Dec24.pdf · 2025-01-30
Thanks for the opportunity and congrats on good set of numbers. The first question is, given that now we are expanding and appointing distributors domestically as well as outside, will it lead to the inventories and debtors being higher than the current levels?
Fair enough. That is helpful. Second question again on the HALS front, so currently I think you said that about 10% revenues came from HALS during this 9 month, if I am not wrong?