Kiri Industries conducted the conference call for Q2: FY22 today at 2:00PM
Here are the concall highlights π§΅π
Here are the concall highlights π§΅π
Business Updates:
β’ Increase in coal & ignite has increased power cost and also impacted logistics cost.
β’ Volatility in raw material price impacted the business.
β’ Input cost is not stabilizing, which may lead to improve the business performance.
β’ Kiri PAT for Q2: 12.3cr
β’ Increase in coal & ignite has increased power cost and also impacted logistics cost.
β’ Volatility in raw material price impacted the business.
β’ Input cost is not stabilizing, which may lead to improve the business performance.
β’ Kiri PAT for Q2: 12.3cr
Margins:
β’ All the input cost didn't allowed the co. to be net profitable.
β’ Mgmt expecting in Q3 to come to back to pre-covid levels both in OPM & topline levels.
β’ Mgmt don't expect raw material cost to come down atleast for this current year.
β’ All the input cost didn't allowed the co. to be net profitable.
β’ Mgmt expecting in Q3 to come to back to pre-covid levels both in OPM & topline levels.
β’ Mgmt don't expect raw material cost to come down atleast for this current year.
Industry:
β’ With logistics opening up, opportunities in Bangladesh market is coming up in favour for the industry.
β’ Domestic expansion in Indian textile industry will scale up domestic market.
β’ Dye Market in Europe market is not there, as there is no textile processing.
β’ With logistics opening up, opportunities in Bangladesh market is coming up in favour for the industry.
β’ Domestic expansion in Indian textile industry will scale up domestic market.
β’ Dye Market in Europe market is not there, as there is no textile processing.
Dystar:
β’ Supreme Court shall hear all appeals on any of the days between 24 - 28 Jan 2022.
β’ Kiri Longsheng is also not paying dividend on time and there are issue of minority issue still pertains. However no-one is taking dividend. There has been no legal case as of now.
β’ Supreme Court shall hear all appeals on any of the days between 24 - 28 Jan 2022.
β’ Kiri Longsheng is also not paying dividend on time and there are issue of minority issue still pertains. However no-one is taking dividend. There has been no legal case as of now.
Business Products:
β’ Co. is looking for new product mix (especially in dye intermediates (60% allocation), performance chemical & some in agrochemcial).
β’ Co. is looking for new product mix (especially in dye intermediates (60% allocation), performance chemical & some in agrochemcial).
Strategy:
β’ For short term strategy remains to focus on stabilizing the business.
β’ There would be no CAPEX in short term and no borrowing will be made for the short time.
β’ For short term strategy remains to focus on stabilizing the business.
β’ There would be no CAPEX in short term and no borrowing will be made for the short time.
Other:
β’ Inventory turnover has decreased from 84 days to 36 days on a YoY basis.
β’ Trade Receivables have decreased from 248 days to 107.
β’ Annual legal cost stays at around 40-45cr.
Utilization
- Dye : 37%
- Intermediate: 88%
β’ Inventory turnover has decreased from 84 days to 36 days on a YoY basis.
β’ Trade Receivables have decreased from 248 days to 107.
β’ Annual legal cost stays at around 40-45cr.
Utilization
- Dye : 37%
- Intermediate: 88%
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