"Festive Demand, Make in India drive and unorganized to organized shift, everything has positively contributed to demand."
Here are the key highlights of the call😀👇
- Price increase vary from product to product. Copper related product saw price increase of around 15%.
That has happened over the quarter.
- If demand continues to be strong then stock will come back to normal levels.
- There was some pre-buying in last quarter.
- There is no major increase in cost. They are at normalized levels.
- There might have been some shift from unorganized to organized sector
- Lloyd has started giving benefits in last 1-1.5 years. Only in last few days of quarter there was some stocking.
- There are some structural changes as there was good demand in consumer segment. Make is India is becoming a fashionable thing. Earlier people use to ask why some products are even made in India by the company for example lights. But now the perception of people have changed.
- Depending on the raw material prices, company intends to maintain the margins.
- Travel cost and advertising cost will come back progressively.
- Air conditioner capacity came at the right time, there will be more capacity coming up.
- There is a huge global market available for Air conditions as well.
- Government has pushed Made in India theme in last few years.
- Cash utilization: Right now Havells existing portfolio is good. Company is always hopeful for acquisition but it should be backed up with some strategy. Cash will be reinvested in capacity expansion.
- Once a market share changes then it becomes sticky. Post covid consumers preference has also changed. It was not only because of supply chain disruption.
- Over long time all the segments will have good opportunity for growth.
- Domestic appliance segment had growth as during the past Quarter there was festive demand.
- Fans segment has done really well. There might have been some pre buying due to anticipation of increase in prices.
- Pli scheme promotes domestic production and also for Improving exports.
- On large appliance company has complete range in consumer category but in other large appliance company will be expanding the range as and when there is volume demand.
- Overall there were positive outlook in economy, demand in markets continues to be good.
- There were huge fluctuation in raw material prices.
- Price increase in raw material of consumer durable ranges between 5-13%. It is all underway.
- When organized players take away the share of unorganized market then it is always better for the existing players. It takes away competitiveness of unorganized players.
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• Continue to see pickup in saving business.
• Growth is there both in volume of policy and increase in ticket size.
• Market share remained increasing at 27% and is increasing gradually.
• Solvency Ration remained at 202%.
• Bank Assurance Channel has grown 22%. Agency Channel continuous to gain growth. HDFC Bank remained growth drive.
• Company is continuously partnering with new channel partners.
• Risk Management has been constantly watched and remained on track.
"Target to purchase 20% of the new music this year for the next 30 year"
Here are the key highlights of the call 😀👇
Business Updates:
• There has been slow and steady growth and the industry is slowly coming out of Covid.
• Entertainment and Education has seeing a good growth in digitization.
• Saregama is in a good position to take the advantage of the digitization.
• Cost has been tightened over the past 2 quarter.
• Company debt company last year, has been reduced a lot.
Growth Driver:
• Primary driver for the 24% sales growth is the Carvaan sales and the music right.
- Specialty chemical: There were enhanced volumes across products. Enhanced volume led to better utilization of capacity of multi product and dedicated plants as well
- Capex is on track.
- Revenue from existing products continue to improve.
Technical textile business: this segment gave a steady business as there was faster than expected recovery in Tyre industry.
- Domestic demand for refrigerants is picking up.
- Company will focus on sales ramp up from newly commissioned plants in Thailand and Hungary.
Business Update:
• Business has been reveamped and seen good growth.
• Tier 2 and Tier3 has seen good growth.
• Q3 turned out to be more than what we expected.
• EBIDTA Margins attained a new higher.
Gas Price:
• Remained same than that of past quarter. Avg Price in Northern India is 25-26 price, which was 30-31 last year
• Out of this around 50% of this price is for long term
Segment:
Bathware & Sanitary is already CF +. Ply will take more 2 year for generating cash flow.
Business Updates:
• Company has managed to maintain the new normal and looking for steady growth.
• Business has returned to new normal.
• Second wave of covid has lesser impact
• Over past 3 months company has maintained operational efficiency
• Collaborated with Deerfield Discovery and Development (3DC) to advance integrated drug discovery projects
• Co. has also collaborated with virtual system in order to communicate with the clients easily.
• Expansion Hyderabad facility will increase the operational aspect