Meghmani Organics · tone and specificity signals across the available quarters.
Language signals
Whoever will have the extra 50% burden on their inventory... people are afraid that you never know that someday this person will remove the extra tariff and whether there will be reversal of the duty... so even at the customer end there is lot of uncertainty. So they buy only as and when they need the material.
The anti-dumping was imposed in 2025 in May... following that the order was challenged by the Indian paint association in Kolkata high court... it was not represented properly and the court order came in their favor... DGTR accepted the order and worked on the lapses and now we are awaiting the new order.
₹825 cr we have already put here. Now this plant will even in the best case scenario make a ₹70 cr EBITDA. So what kind of return on capital can be expected? I mean the downside every quarter we see the downside—it is like ₹30 cr quarterly loss and upside anyway is a single digit return on capital, sir. What's the wisdom of just carrying on with this dud project?
The main rational here is to achieve optimal utilization of existing resources through consolidation of operation into a single level entity and derive operational and financial synergy through prudent financial management and cost reduction.
Definitely there has been increase in the TiO2 price globally. At the same time the Indian currency has depreciated. So that increases the realization but at the same time the component which is the key component is sulfuric acid that price has gone up drastically. Currently the sulfuric acid price is more than 30 rupees per kg which used to be below 10.
We believe that in FY27 we'll be somewhere in this range only. Quarter 4 was one of the odd quarters where the geopolitical situation arose where we were not able to pass on the price increase immediately to the customer which was the situation. Now slowly gradually this things are improving.