Astral · Analyst questions, management answers, and the quality of the response where the ledger is available.
ConCallIQ research layer
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Questions audited
12
Answered directly
75%
Numeric claims
3
Consistency
mixed
Question ledger
Rahul Agarwal · Ikigai Asset Management
directSo see, if you see, there were two pending issues with the government. First was to initiate the anti-dumping duty, which government had recently few days before they issued the circular, and now that is done. So sooner or later, you will see the price effect will be there on the market.
Rahul Agarwal · Ikigai Asset Management
partialCPVC has continued to grow, and it is growing. And if you see, Astral has done, despite all these challenges in PVC, a good number. So obviously, the CPVC sale is continuously growing and giving us good number margins.
Rahul Agarwal · Ikigai Asset Management
directOctober was normal because there was no high demand in the October because of the holiday season. It was also there, and there was no clarity about the anti-dumping duty. Thirdly, monsoon extended in the month of October also, so October was not that great, I can say. It was a flat kind of thing.
Nitin Jain · Fairview Investment
directFirstly, let me tell you the application of OPVC has no concern on PVC business, neither CPVC business. It's a totally different application. It's a more water transportation product. To long distances, it's the replacement of ductile iron.
Nitin Jain · Fairview Investment
directWe had more employees. We have taken two initiatives. One is the initiative in adhesive called New Bharat, and where we are going to the most rural parts of India, and which is actually giving us good numbers and growth and visibility, but when we talk about New Bharat, we need people.
Nitin Jain · Fairview Investment
directYes, U.K. business has two aspects. One is the U.S. loss comes through the U.K. business. So U.K. standalone, when it works, it is not a negative one. But U.S. is a part of the U.K. business, so that also gives us some negative margin. But U.K. itself has lower margin.
Sneha Talreja · Nuvama Capital
partialCPVC side prices are stable right now in the market, and there is not much volatility seen. Once these PVC prices rise, maybe the CPVC prices might rise by a few percentage points, but that is to be seen. As of now, the CPVC prices are stable.
Sneha Talreja · Nuvama Capital
partialEBITDA will be difficult for us to give because now earlier, the Jamnagar operation was separate, so we were able to arrive at the number. Now there, we already started manufacturing the CPVC, the fittings, brass rings all over there. So now it is clubbed, so very difficult to arrive. But sales-wise, yes, last year it was close to about 17.7%, and this year it is 28.9%. So almost 63% kind of growth is there in this quarter.
Shravan Shah · Dolat Capital
partialWe don't have an exact clarity how much destocking is there in the system. If the destocking level will be high, then yes, definitely we will try for the 15%. Otherwise, any number between 10%-15% will be there.
Shravan Shah · Dolat Capital
directBut that will be counted into the inventory gain. That is not a permanent kind of margin for us. So we can't guide like that way because I can't forecast the gain of inventory. This is why we are giving 16%-18% because that is a normal business margin, excluding the inventory gain.
Ritesh Shah · Investec
directOne is volume growth. Now, volume growth, I don't see this as a bad value growth. You have seen the volume growth across the channel. Reliance itself has said, 'I'm in a minus volume growth on polymer by 5%.' So if the giant is shrinking on the polymer growth, it's a very open picture for that.
Ritesh Shah · Investec
evasiveWe cannot give everything. We are rationalizing and people have to trust us. We know how and where and where to do. But we cannot give you what numbers and all other costs also. We have been very categorically very open on every front. But we have not to have every front open that relates to what business.
