#Princepipes Q1 23 Concall Highlights

Like & retweet for better reach!

1. Volume and value grew 69% and 83% y-o-y respectively, led by building materials segment. Revenue grew 83% to 604cr in Q1 2023 compared to 331cr in Q1 2022. Volume grew by 69% to 31215 MT.
PAT declined to 16cr in Q1 2023 from 18cr in Q1 2022

2. EBITDA was 44cr indicating a growth of 6%. Margins was 7.3%, which dropped from 15-17% levels Margins to remain under pressure in Q2. Margin guidance for December quarter is around 13-15%. Margin Drop was because of
inventory losses and channel destocking impacting operating leverage

3. Demand for agri in Q1 was weak while for SWR and Plumbing was resilient. Softening PVC prices resulted in a muted sentiment across value chain causing destocking among channel partners.
PVC prices were around 70/kg during pre covid and currently it is around 93-94/kg.

4. Working capital days increased to 88 days from 68 days. Inventory days improved to 78 days from 85 days in March 2022. Prince has kept inventory levels on a higher side during the pandemic
and supply disruptions to maintain supply. With falling PVC prices, Price will now work in a normal inventory levels in Q2.

5. Quarter witnessed inventory loss of 30-35cr, led by constant falling PVC prices. Prince was impacted on a greater side due to higher inventory.
Inventory losses is likely to impact second quarter as well due to sharp corrections in PVC prices in July month. Prices are now stabilised and it is expected that channel partners will start restocking.
6. Margins are expected to recover in December quarter as affordable PVC will create strong demand in the industry. Prince believes they are well poised to capture this growth because of
a) new capacity setup in Jaipur and Telangana;
b) widely expanding distribution network across the country. Prince continues its vision to aggressively grow in piping system business and diversify into complimentary verticals.
7. Prince Pipes’ Strategies in coming years will be a) Digitalising value chains; b) Introducing newer applications; and c) Continue to enlarge product basket. Focus remains on growing value added product segment in overall sales mix.
8. PEfit aqua (HDPE) and corfit manhole chambers launched in May quarter are getting well accepted. There was a steady growth in B2b Segment but are still on lower levels. Share of CPVC Segment and fittings for the company topline has been increasing. Prince has a Market share
of 6-6.5% in overall PVC piping industry.

9. Prince entered Bathware segments making presence in front of the wall category which is a natural extension of business. Company’s expansion into faucets and sanitaryware to leverage strong equity on Prince in Building solutions
market and will help channel partners to expand their business. Overall market size of bathware segment is about 15000 crore, of which 65% is organised and balance is unorganised. Large part of distributors are already selling this product.
Being front of the wall brand helps to connect not only plumbers but also home owners. Prince is working on this segment through asset light model (Contract Manufacturing).
Register to model portfolio to get detailed analysis on various businesses

Link :valueeducator.com/advisory/

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Value Educator

Value Educator Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ValueEducator

Aug 12
#NatcoPharma Q1 23 Concall Highlights

Like & Retweet for better reach !

1. Growth in revenue from operations - Q1FY23 vs Q1FY22 : ~115%

2. Growth in export formulations - Q1FY23 vs Q1FY22 : ~400%

3. Growth in domestic formulations - Q1FY23 vs Q1FY22 : ~ -56%
4. Cost of materials was much higher in the corresponding last quarter because of the write off of covid inventory which is why there is a significant difference in COGS

Revlimid :
1. Contributed a major share to revenue in Q1FY23
2. Revenue share is expected to taper off
in Q2&Q3 FY23
3. Sales from Revlimid are expected to recover in Q4 FY23 and Q1FY24
4. The reason for seasonality is due to limited amount of this product’s supply as per the settlement with Celgene
5. When supplies are sent , manufacturing margins are booked and subsequently
Read 18 tweets
Aug 12
#kajariaceramics Q1 23 Concall Highlights

Like & retweet for better reach !

1. Sales volume of 23.33 million square meters in Q1 FY2023. In Q1 consolidated revenue from operation increased by 80% on a year-to-year to Rs.1008 Crores from Rs.562 Crores in Q1 FY2022 because
of a lower base.

2. EBITDA margin for this quarter stood at 15.23% as compared to 14.32% in the corresponding quarter of the previous year.

3. Revenue from the bathware segment grew by 93% from Rs.37 Crores to Rs.71 Crores in Q1. Revenue from the plywood segment grew by 279%
from Rs.5 Crores to Rs.20 Crores in Q1.

4. In the Q1 the north prices for gas were around Rs.52, south was about Rs.60 and west was about Rs.67. Prices are very fluctuating right now. Gas is around 38% of company’s cost.
Read 20 tweets
Aug 11
#Mayuruniquoters Q1 23 Concall Highlights

Like & retweet for better reach !

Operational and Financial Highlights
1. Mayur Uniquoters Ltd being a market leader in the synthetic leather industry and an organised player has been able to leverage the emerging opportunity
and deliver exemplary performance in the past year both in national and international markets.

2. The company has achieved revenue from operations on a standalone basis amounting to Rs 200.93 crores and PBT Rs 35.95 crores and PAT Rs 28.64 crores during the quarter which has
increased by 37%, 41% and 47% respectively from the last quarter.

3. Revenue from operations on a consolidated basis is Rs 200.44 crores and PBT is Rs 33.89 crores and PAT Rs 27.1 crores which has increased by 24%, 4% and 9% respectively from the last quarter.
Read 32 tweets
Aug 11
#arihantsuperstructure Q1 23 Concall Highlights

Like & retweet for better reach

Operational highlights:
1. Total revenue of 89.61 cr, with EBITDA of 19.90 cr. EBITDA margin stood at 21.3%. Company reported PAT of 10.70 cr with 11.94% margins.
2. Sold 0.405 million square feet in area with 533 units sold.

3. Values of sales stood at INR 234.8 cr and total collection was INR 110.6 cr.

4. Received OC for two projects in Taloja with delivery of 390 units.
5. Management guided for a CAGR of 45% to 50% on sales and revenue figures.

6. In the next three years, management plans to deliver 1,000 to 1,200 units per year from existing inventory and ongoing projects.

7. Total portfolio value around INR 7,680 cr.
Read 20 tweets
Aug 11
#ajmerarealty Q1 23 Concall Highlights 🏡🏡

Like and retweet for better reach !

Operational Highlights:

1. Sales stood at INR 400 cr which included around 354 cr from Ajmera Manhattan.

2. The collections stood at INR 210 cr.
3. Company record revenue of INR 55 cr, with EBITDA of INR 18 cr. EBITDA margins stood at 33%.

4. PAT of INR 12 cr and 21% PAT margins.

5. Average realizations increased from Rs.17,734 to Rs.25,411.

6. Good demand despite challenges in macro markets, despite challenges
and higher input costs.

7.Greenfinity and Sikova Project contributed to this quarter’s revenue which includes first time revenue recognised from Greenfinity.

8. Debt reduced by INR 25 cr in this quarter from INR 825 cr to INR 805 cr, Debt ratio stood at 1.12x.
Read 23 tweets
Aug 11
#Diamines & Chemicals

Market Cap : 414 Cr
How I Identified ?

1. Diamines and chemicals is into manufacturing of #piperzaine and #ethylenediamines

They have > 40% market of piperazine which goes into ciprofloxacin (API)

#aartiindustries & #neulandlabs manufacture ciprofloxacin
2. R&D Expenses increasing year on year
3. Investing 14.5 Cr for Pilot plant for newer downstream Products
Read 15 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(