Concall Notes on Privi Speciality Q3FY22 🧑🔬🧑🔬
(Disc:- Not invested. Part of my substitute bench if it becomes favourable, Not sebi registered)
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(Disc:- Not invested. Part of my substitute bench if it becomes favourable, Not sebi registered)
🧵🧵🧵🧵🧵
Privi has Commissioned the Prionyl project on 31st of December. In January the primary production has started. For Prionyl spot market is something that they will tap around before they get in a position to get into the long-term contractual business.
The other two projects the camphor as well as the Galaxmusk is on track and they expect that by March most of these projects will also be capitalized and they will start bringing in the revenues from the Q1 2023.
For the 3 new projects they may achieve the 40% capacity utilisation in FY23, in first half there won't be much revenue flowing from these capacities as most of the annual contracts are renewed in second half, so we can expect good utilisation from Q3 onwards.
From 1st of January 2022 the contracts that they entered for CY 2022 with most of the global players are higher than what it was in the year 2021 to overcome RMC expenditure and freight cost. The increases anywhere on an average between 5 to 8% as compared to the CY 2021 prices.
They expect Q4 FY22 to be bumper quarter for due to volume growth & increase in price.
They will be reducing the debt once capex gets completed.
They will be reducing the debt once capex gets completed.
The land has been acquired for the manufacturing for JV with Givaduan and also made the application to Environment Commission. Out of the 42 products that Givaduan has asked to work on 14 of them have successfully met with the standards of Givaduan at our research lab.
10 products are in the pipeline at the research and development level.
*Guidance*
In next 3 years they are targeting for 3,000 cr topline with EBITDA margins of 17.5% to 20% (not including the revenue from JV of Givaduan).
*Guidance*
In next 3 years they are targeting for 3,000 cr topline with EBITDA margins of 17.5% to 20% (not including the revenue from JV of Givaduan).
Currently 2 units are zero liquid discharge and by Mar 2023 all units will be zero discharge.
65-70% of revenue comes from long term contracts, most of these are with MNCs. These contracts range from quarterly to yearly.
65-70% of revenue comes from long term contracts, most of these are with MNCs. These contracts range from quarterly to yearly.
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