Fineotex Chemical Limited — Q4 FY26

Fineotex Chemical Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=UuaUxd3yBuE Published: 3 hours ago

0:01 1 second Ladies and gentlemen, good day and welcome to the Phenotics Chemical Limited Q4 and FI26 earnings conference 0:09 9 seconds call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. 0:20 20 seconds Should you need assistance during this conference call, please signal an operator by pressing star then zero on 0:26 26 seconds it at stone phone. Please note that this conference has been recorded. I now hand the conference over to Miss Arti Chundin Wallala Phenotics Chemical Limited. 0:37 37 seconds Thank you. And over to you, ma'am. 0:46 46 seconds Artima over to you. 0:56 56 seconds If you're speaking right now, we're unable to hear you. 1:07 1 minute, 7 seconds Hello ma'am, are you able to hear us? 1:14 1 minute, 14 seconds Ladies and gentlemen, please stay connected while I join Miss RPA on the call. 1:21 1 minute, 21 seconds Yes, ma'am. You're not. Please go ahead. Okay. Yes. Yes, good morning everyone. 1:27 1 minute, 27 seconds It's always a pleasure to connect with our investors, analysts, and stakeholders. We deeply appreciate your time and continued trust in Phanotex Chemical Limited. 1:37 1 minute, 37 seconds Finex today is evolving into a diversified global specialtity chemicals platform driven by innovation, customer 1:44 1 minute, 44 seconds centricity, sustainability, and execution excellence. Over the years, we have built strong capabilities across 1:51 1 minute, 51 seconds textile specialtity, FMCG and hygiene chemicals and are now strategically expanding into the high growth adjacent 1:58 1 minute, 58 seconds se segments including oil and gas and water treatment chemicals. 2:03 2 minutes, 3 seconds As you all are aware, in December 2025, we acquired Crude Cam Technologies Group, a US-based specialtity oil field 2:11 2 minutes, 11 seconds chemical manufacturer focused on advanced chemical fluid additives and comprehensive solutions for the global 2:18 2 minutes, 18 seconds oil and gas sector. This acquisition marked a significant step in our strategic expansion into high value 2:25 2 minutes, 25 seconds specialtity chemical segment, further strengthening our position as a diversified global specialtity chemicals company. 2:34 2 minutes, 34 seconds on the strategic front. This acquisition provides us with an immediate entry into the large North American oil field chemicals market through an established 2:43 2 minutes, 43 seconds and operational platform with an existing customer base and distribution network. 2:49 2 minutes, 49 seconds It also significantly strengthens our presence in high margin upstream chem specialtity chemicals. 2:56 2 minutes, 56 seconds Crude chem brings strong manufacturing and formulation expertise, technical capabilities, and deep customer 3:03 3 minutes, 3 seconds relations across the key oil and gas basins in the US. We see meaningful opportunities for cross-selling product 3:12 3 minutes, 12 seconds innovation, sourcing efficiencies, and leveraging finite global formulation expertise across this combined platform. 3:21 3 minutes, 21 seconds Importantly, since this acquisition, we have already initiated several operational improvements focused on execution, 3:29 3 minutes, 29 seconds scalability, capacity utilization, and customer servicing, which we believe will create significant long-term value for the company. 3:40 3 minutes, 40 seconds Encouragingly, we are already witnessing improved operational efficiencies and strong stronger business momentum across the acquired operations. 3:50 3 minutes, 50 seconds Also most importantly, the acquired group shares the same ESGdriven philosophy that forms a core pillar for 3:57 3 minutes, 57 seconds biotics long-term vision which reinforces our commitment to sustainability, compliance and responsible growth. 4:06 4 minutes, 6 seconds The company has been serving marquee global oil service and producing companies in US which serves leading 4:14 4 minutes, 14 seconds global oil field service and exploration and production companies across the US. 4:20 4 minutes, 20 seconds In the line with increasing demand outlook and strong customer traction in the US oil field chemicals market, we are now in process of doubling the manufacturing capacity in crude chem. 4:31 4 minutes, 31 seconds This expansion position helps us to cater to larger contracts on board new customers and accelerate growth in the 4:39 4 minutes, 39 seconds high margin speciality oil chemical segment. 4:43 4 minutes, 43 seconds Now Arendan G will take us through the key developments for this quarter in the specialtity textiles chemicals business of the company. Over to you Arinda G. 4:54 4 minutes, 54 seconds Uh thank you RT G and very good morning everyone. 5:00 5 minutes Coming on to the textile speciality chemicals the industry environment remains stable with healthy underlying 5:07 5 minutes, 7 seconds demand during the quarter both globally as well as in India. 5:12 5 minutes, 12 seconds Expanding on to India US trade deal is key point its effect on the textile sector. It has the potential to significantly strengthen Indian textile 5:21 5 minutes, 21 seconds export competitiveness which adds further excitement in the domestic textile and government producers particularly along with the evolving 5:30 5 minutes, 30 seconds trade framework and partnership with the UK and European market which we all aware. Demand continue to be supported 5:38 5 minutes, 38 seconds by recovery in the apparel export, growth in home textile, increasing penetration of technical textile by government of India and rising 5:46 5 minutes, 46 seconds adaptation of the sustainable and performance-driven chemical formulation. 5:52 5 minutes, 52 seconds Indian textile export grew 2.1% yearonear in FY26 to 3.16 trillion. I 5:59 5 minutes, 59 seconds repeat 3.16 trillion. Led by ready governments growth occurred across 120 plus destination despite challenges last 6:08 6 minutes, 8 seconds year like US tariff and west Asia disruption. 6:12 6 minutes, 12 seconds Also very interestingly domestic demand remain steady supported by the urban consumption home furnishing department 6:20 6 minutes, 20 seconds specifically and government initiative towards technical textile and manufacturing expansion in the particular technical textile field 6:29 6 minutes, 29 seconds within specialty chemicals. Demand for value added finishing and performance chemical remain relatively stronger compared to last year and also the 6:38 6 minutes, 38 seconds conventional auxiliary products are also moving quite well which continues to benefit companies with diversified and 6:45 6 minutes, 45 seconds innovationdriven product portfolios like us going forward. We remain optimistic on the sector outlook supported by China 6:52 6 minutes, 52 seconds plus one opportunity supply chain diversification sustainabilitydriven demand and potential benefits from 6:59 6 minutes, 59 seconds ongoing trade agreement and FTS across key export markets. Now I'll request you G will highlight the opportunity and the 7:07 7 minutes, 7 seconds tailwinds in the oil and gas speciality chemicals sector and future tie-ups. Over to you. Thank you Aran G. Good morning everyone. 7:16 7 minutes, 16 seconds Coming out of the oil and gas segment, the overall industry environment continues to remain constructive, supported by stable upstream and 7:24 7 minutes, 24 seconds midstream activity levels across three global energy markets, particularly in North America. Demand trends remain 7:32 7 minutes, 32 seconds healthy across speciality oil field chemical categories. Customers globally are increasingly focused on operational 7:39 7 minutes, 39 seconds efficiencies, production optimization, water management, sustainability, and high performance formulations. This 7:47 7 minutes, 47 seconds continues to drive demand for value added speciality chemical solutions and technically differentiated products. 7:54 7 minutes, 54 seconds From a strategic point perspective, the recent US acquisition represents an important milestone in Finitech's 8:02 8 minutes, 2 seconds long-term vision for building a diversified global speciality chemicals platform. Beyond the immediate scale up in the oil and gas segment, the 8:10 8 minutes, 10 seconds acquisition strengthens our technological capabilities, manufacturing footprint, customer access, and presence in high value 8:19 8 minutes, 19 seconds speciality chemical markets. Our approach towards partnerships and acquisitions remains highly disciplined and strategically aligned. We are 8:28 8 minutes, 28 seconds evaluating opportunities that can enhance a product basket, strengthen our presence across niche and 8:35 8 minutes, 35 seconds high margin chemistries, provide access to new geographies and customer relationships, and further deepen our 8:42 8 minutes, 42 seconds technical capabilities. With a strong balance sheet, improving global scale, and a proven execution track record, we 8:51 8 minutes, 51 seconds believe the company is well positioned to participate in the ongoing consolidation and transformation within the global speciality chemicals industry 9:00 9 minutes while continuing to create sustainable long-term value for all stakeholders. 9:05 9 minutes, 5 seconds Now, I request Sanjay G to guide us through the financial performance of the company. Thank you. 9:12 9 minutes, 12 seconds Uh thank you YSU G. Thank you. Good morning everyone. Uh I would like to start by highlighting to all that for financial year 26 our revenue from 9:21 9 minutes, 21 seconds operations grew by 162% to three 314 crores compared to the last year quarter. 9:30 9 minutes, 30 seconds This strong performance was driven by healthy underlying demand across business segments along with robust contribution from our newly acquired 9:38 9 minutes, 38 seconds business. Our profit after tax for the quarter grew by 118% to 44 crores 9:45 9 minutes, 45 seconds compared to rupees 20 crores in quarter for financial year 25 reflecting both strong operational performance and 9:53 9 minutes, 53 seconds improving business mix. Additionally, our international revenue contribution increased significantly to 70% in 10:00 10 minutes quarter 4 financial year 26 demonstrating the grow growing scale traction and the growing global diversification of our business. From a 10:10 10 minutes, 10 seconds return ratio perspective, the company continues to maintain healthy financial metrics with ROIC at 31% reflecting 10:18 10 minutes, 18 seconds efficient capital allocation and discipline execution. 10:21 10 minutes, 21 seconds Further, our working capital cycle remains healthy at 79 days despite the significant scale up in international operations and business integration activities. 10:31 10 minutes, 31 seconds Since the acquisition, we have undertaken several operational initiatives focused on improving execution efficiencies, enhancing 10:38 10 minutes, 38 seconds scalability, optimizing capacity utilization, and strengthening customer servicing capabilities. These measures have started yielding encouraging 10:46 10 minutes, 46 seconds results, including improvement in ITA margins. Importantly, even post acquisition and through the ongoing 10:54 10 minutes, 54 seconds expansion initiatives, the company continues to maintain a strong financial position, enabling us to remain focused 11:01 11 minutes, 1 second on both organic and inorganic growth opportunities going forward. Going forward, the company remains actively focused on expanding its global 11:09 11 minutes, 9 seconds specialtity chemical portfolio through a contribution of organic growth initiatives, strategic joint ventures, technology collaboration and selective 11:18 11 minutes, 18 seconds inorganic opportunities across high growth speciality chemical segments. 11:24 11 minutes, 24 seconds With that, I now open the floor for questions. Over to you, Sapnali. 11:31 11 minutes, 31 seconds Thank you very much. We will now begin with the question and answer session. 11:35 11 minutes, 35 seconds Anyone who wishes to ask a question may press star then one on the touchstone telephone. 11:43 11 minutes, 43 seconds If you wish to remove yourself from the question queue, you may press star and two. Participants, you are requested to use handsets while asking a question. 11:53 11 minutes, 53 seconds Ladies and gentlemen, we will wait for a moment while the question to settles. 12:02 12 minutes, 2 seconds A reminder to all, you may press star and one to ask a question. 12:16 12 minutes, 16 seconds We will take the first question from the line of Amit Mahendali from Robo Capital. Please go ahead. 12:24 12 minutes, 24 seconds Thank you uh and congrats on great s of numbers. My first question is on our uh US acquisition CCT. Are we expecting 12:32 12 minutes, 32 seconds $200 million of revenue in FI28 and because I was looking at the PPT where it mentions this specific number and the 12:39 12 minutes, 39 seconds timeline as well and also you know what type of IITa are we looking at in terms of IITA percentage as we scale up the business. 12:49 12 minutes, 49 seconds Oh uh yes uh thank you so much for this question. This is something which we have been answering very often. So yes uh it's already if you see the run rate 12:58 12 minutes, 58 seconds at what we are in quarter 4 if you analyze it it's already touching almost 90 to 100 million and the kind of traction which is been seen with the 13:07 13 minutes, 7 seconds customers the kind of technology transfers we have done the kind of efficiencies I am very confident that the team will be able to deliver $200 13:16 13 minutes, 16 seconds million business in the coming times at the same time the IITA margins have been improving considerably with the kind of 13:24 13 minutes, 24 seconds uh you know the resources which we have uh after our uh after we being the shareholders in crude camp we could have 13:32 13 minutes, 32 seconds a lot more resources on machinery manpower negotiations and suppliers negotiations so these factors have contributed to increase of ITA so going 13:41 13 minutes, 41 seconds forward I think uh comfortably we should be at a bit of 15% more or less 13:49 13 minutes, 49 seconds great uh thanks for that and what uh in terms of business uh I was looking at customers like Hallebertton Schlumbumberj Baker uh you know these 13:57 13 minutes, 57 seconds are all marquee customers. So what type of services are we providing to them uh any color on you know some 14:04 14 minutes, 4 seconds like products and services will be great. 14:08 14 minutes, 8 seconds So how it happens I'll just give you a general overview how the business model works. So one part of the business is to produce the specialtity chemicals. The 14:16 14 minutes, 16 seconds second part is to provide technical services to the end users and the third thing is also to give the last mile 14:23 14 minutes, 23 seconds deliveries. Now in North America I mean unlike in India the transportations the deliveries and the other kind of 14:30 14 minutes, 30 seconds services have a great importance because that's something which the American companies are looking forward for. So 14:38 14 minutes, 38 seconds it's like like a on-time delivery the kind kind of consignment sales the kind of technical services to explain how do 14:45 14 minutes, 45 seconds we get more better output to get the right kind of efficiency. So these are the kind of you know so our offerings is 14:52 14 minutes, 52 seconds not only producing specialtity performance chemicals but we provide a lot of sustainable solutions and technical services. So the kind of 15:00 15 minutes package and the systems which set with the customers is something which is you know much appreciated by the customers and that's quite evident in the in the 15:08 15 minutes, 8 seconds traction and the the way the things are going ahead. 15:13 15 minutes, 13 seconds Great sir and uh thank you. We were also talking about uh you know doubling the capacity. So what type of at peak capacity what will be our revenue for the US uh business? 15:25 15 minutes, 25 seconds So at such already we have been increasing the capacities after uh from December onwards. Uh this month also we 15:32 15 minutes, 32 seconds are seeing a great increase in the capacities. We a lot of machines have been ordered and we are just installing it maybe in a couple of uh weeks. This 15:41 15 minutes, 41 seconds things should also be increased to a great extent. I think easily we should be looking at uh touching a business of $200 million with the kind of new 15:50 15 minutes, 50 seconds investment we are going to do in the machineries. At the same time there has been a lot of product mix and lot of traction in the customers demand and the 15:57 15 minutes, 57 seconds the kind of sustainable solutions which we have started providing in allin gas is something which is also picking up dramatically. So we are totally geared 16:06 16 minutes, 6 seconds about it. Earlier our expectation to touch $200 million was something in 2030. However, I think that should not 16:13 16 minutes, 13 seconds take so long now. It's it should be definitely before 2028. 16:18 16 minutes, 18 seconds So, this is the kind of uh action going on. 16:23 16 minutes, 23 seconds Great sir. And what of Sorry to interrupt between Ahmed. I will request you to please rejoin the queue again for more questions. 16:29 16 minutes, 29 seconds Sure. Thanks. 16:33 16 minutes, 33 seconds Thank you. We will take the next question from the line of Prates Jada from Lucky Investment. Please go ahead. 16:40 16 minutes, 40 seconds Yes sir. on the CTC side uh you know can you just explain us what uh you know 16:46 16 minutes, 46 seconds where is this uh whole uh growth linked to uh for us to better comprehend you 16:54 16 minutes, 54 seconds know the scale up to $100 million and the scale up to $200 million revenue in a couple of years time uh is it linked 17:01 17 minutes, 1 second so is it a fair assumption that is actually linked to the US oil and gas production and you could give some linkages there 17:10 17 minutes, 10 seconds Oh yes definitely the market in North America has been growing rapidly and also north not only North America I mean the Surinam and Guyana these are the new 17:19 17 minutes, 19 seconds places which is coming up. Venezuela also is is getting uh you know getting into the limelight from most of the users service providers. So around North 17:28 17 minutes, 28 seconds America there is no doubt that the oil activities are going to go up. 17:32 17 minutes, 32 seconds Furthermore uh CCT are well poised for having the best kinds of systems with the best kinds of customers approach. 17:39 17 minutes, 39 seconds Historically they have been working with all the biggest users let's say Exxon mobile shell and all the biggest market 17:46 17 minutes, 46 seconds name which must be there on the investor presentation as well. So these are the kind of uh companies with crude cam has a great history the demand has been 17:55 17 minutes, 55 seconds growing and they have been seeing a lot of value which CCT has been providing in general in terms of last mile deliveries 18:02 18 minutes, 2 seconds technical services. we have been trying to make the processes you know more sustainable by reducing the time taken 18:09 18 minutes, 9 seconds for the all drilling activity. So there is a lot of combination of factors which is leading CCT to the next level. uh 18:18 18 minutes, 18 seconds right now what has been experienced in the quarter 4 is something which is the debates what is already done but already 18:26 18 minutes, 26 seconds as I see even now and going times we I think the order books is too strong enough even to comment right now and uh 18:33 18 minutes, 33 seconds so but I can say on a conservative number the quarterf was the the baseline for the for the next step 18:42 18 minutes, 42 seconds uh I am presuming that uh the oil production will not double in US in the defined time frame but your revenue is 18:49 18 minutes, 49 seconds is expected to double. So you know what is it? Some contracts that you have won some contract. Yeah. 18:57 18 minutes, 57 seconds So uh let me tell you how it is. The market where we are catering to is above 4 billion dollars. The products which where we are. Okay. This is the scope of 19:05 19 minutes, 5 seconds the market. It's there in one of our investor presentations probably. So the North American market is growing. There is no doubt about it. I mean this is 19:14 19 minutes, 14 seconds especially in the last four months uh the trend has picked up and it's not going to stop. This is what was uh this is the entire global conflict uh 19:23 19 minutes, 23 seconds according to us is helping North America in a in a very long perspective. So the business is growing. The customers 19:30 19 minutes, 30 seconds demand is increasing. At the same time, we are able to get a wallet share, stronger wallet share. The companies are 19:37 19 minutes, 37 seconds now looking at CCT to replace most of their suppliers because after the involvement of finite, there has been great uh capital investment going on. 19:47 19 minutes, 47 seconds Things have been changing. The customers trust has been brought back into a very strong level. So there is a lot of things which is factoring around the 19:55 19 minutes, 55 seconds business market is growing and CCT is taking a bigger share of it. So that's something what we are looking at 20:03 20 minutes, 3 seconds and $4 billion is a US consumption of these products. 20:07 20 minutes, 7 seconds I'm sorry $4 billion market is the US by market size alone or is it the Oh yeah yeah yeah it it's I think 3.5 or 20:16 20 minutes, 16 seconds something but yeah that I'm talking about the North American market only. 20:19 20 minutes, 19 seconds Our focus is North America and surroundings only for the moment. 20:23 20 minutes, 23 seconds However, we have also started taking care of the Middle East businesses. In fact, a couple of days back I was uh there. Our team right now, Arti and the 20:32 20 minutes, 32 seconds oil and gas team is also in Oman. Today we have a fair in Oman in Opz Oman show. 20:37 20 minutes, 37 seconds So, so we are tapping wherever the opportunities are coming in from Middle East as well. 20:43 20 minutes, 43 seconds So, you need to set up a facility in future. That's how it will be in Middle East. 20:47 20 minutes, 47 seconds So uh right now we already have a subsidiary uh where we were supposed to start a plant. It's in Russell Ka in UAE 20:56 20 minutes, 56 seconds and uh we were supposed to start the plant there. Uh thereafter we we had a you know a diff a plan to rather than 21:03 21 minutes, 3 seconds start from organically rather there are a lot of opportunities which are coming in especially in these times in organic 21:11 21 minutes, 11 seconds acquisitions for companies who are looking for growth capital and things like that. So this is something which we are discussing with such opportunity you 21:19 21 minutes, 19 seconds know companies for how do we bring it under the photics umbrella. So yeah eventually there will be something or the other which is going to shape up in 21:27 21 minutes, 27 seconds the Middle East. There's no doubt about it. Okay. Thank you. Yes. Thank you British. 21:35 21 minutes, 35 seconds Thank you. We will take the next question from the line of Dil Zedi from Crown Capital. Please go ahead. 21:43 21 minutes, 43 seconds Hello. Uh good morning sir. Thank you so much for taking my question. Uh firstly congratulations on a great set of exams sir. Hopefully I'm audible. 21:52 21 minutes, 52 seconds Could you be a little loud Mr. Zi? 21:55 21 minutes, 55 seconds Uh hello. Hi. Uh I hope this is better sir. Yeah much better. Please go at least. 22:00 22 minutes Yeah. Yeah. Hi. Hi sir. Uh so sir just wanted to understand like uh with the 200 million you know target that we have 22:08 22 minutes, 8 seconds from CCT business itself what is the revenue you know guidance that we could give for FI27 and FI28 22:18 22 minutes, 18 seconds I mean uh you know Mr. the way there are so many things going on I don't want to be too vague enough to be wrong but 22:25 22 minutes, 25 seconds there are so many things moving around and I think whatever we have seen in quarter 4 is the base which we have set 22:32 22 minutes, 32 seconds going forward so like I we also revised like we were planning uh $200 million 22:39 22 minutes, 39 seconds business in 2030 which is now revised to 2028 because also a lot of our technology transfers are also been done 22:46 22 minutes, 46 seconds from final tax a lot of products are going to we produce and already being produced in in US where the market is. 22:53 22 minutes, 53 seconds So we are going more closer to the biggest giant global fortune 500 customers giving them the last mile delivery giving them the right technical 23:02 23 minutes, 2 seconds services things are moving and uh it's it's we are trying to do and achieve whatever best we can so I would not be 23:09 23 minutes, 9 seconds able to any forward-looking statements here but in general this is what is the trend and we are on the right pitch 23:16 23 minutes, 16 seconds there is a great uh tailwind which has come to us uh in the industry and we are grabbing whatever opportunity is coming to us. 23:24 23 minutes, 24 seconds Oh okay. Okay. Fair fair enough sir. Uh thank you Mr. Yeah. 23:28 23 minutes, 28 seconds Yeah. Uh with regards to the margins like as you said that you know we are also now getting the operating leverage 23:34 23 minutes, 34 seconds in so uh I think Q4 was around 14%. So on a steady state basis what do you expect it to be going forward? I 23:43 23 minutes, 43 seconds understand uh like uh CCT will take some time and it's the lower end of the business in terms of margins but uh what 23:51 23 minutes, 51 seconds do you feel like a consolidated margin range can be I don't want any exact number a range will also be yeah so all along you know finex has 23:59 23 minutes, 59 seconds been proven uh for operational efficiencies in the last 15 years of being listed always our IITA margins have been minimum in any of the quarters 24:07 24 minutes, 7 seconds of let's say 60 quarters of being listed finex ITAS have always been minimum 18% to 28% % uh on the general level. So uh 24:15 24 minutes, 15 seconds this is something which we are very much uh you know capable to bring more operational efficiencies and uh see 24:22 24 minutes, 22 seconds wherever we can invest in the right technologies and the right kind of inventories and other things. Uh on a blended level it's uh we would always 24:31 24 minutes, 31 seconds look at getting to an easy abita of around 18 to 20% and that's what we are heading to. I think it's not too far 24:39 24 minutes, 39 seconds from now but what's more important right now is to you know deride the businesses and take maximum businesses in control 24:48 24 minutes, 48 seconds and then keep working on the operational betas and operational efficiencies as you know there has been a massive change 24:54 24 minutes, 54 seconds in the global rate you know logistics everything is getting moving around here and there so in such times if we are 25:02 25 minutes, 2 seconds able to perform like this I'm very confident uh our team is going to do a great show once the situation ation gets much better than where it is today. So I 25:11 25 minutes, 11 seconds am I can easily envisassage that 80 to 20% blended should be should be easy uh should be achievable by us. 25:20 25 minutes, 20 seconds Fair fair enough with regard to yeah thank you. Thank yeah I yeah go ahead. 25:28 25 minutes, 28 seconds No, I just want to ask like when we are saying we want to double our capacity in CCT, what kind of capex are we you know incurring right now and how much of it 25:36 25 minutes, 36 seconds has already been spent sir? So there has been a lot of capex being done. In fact after the acquisition also the pinotex has already done a capex of around $7 25:44 25 minutes, 44 seconds million. Uh and uh I mean pinex has extended the uh the funds to CCT for you 25:52 25 minutes, 52 seconds know for investments further of almost 7 the line of this thing is almost $7 million. So yeah this is going on and uh 25:59 25 minutes, 59 seconds as you can see the the you know finiteex has is the there is no debt on books everything it's a cashrich company. So this is something which we are looking 26:08 26 minutes, 8 seconds at where all we can get the best return on our capital and that's exactly what we have been doing now going forward we will keep updating all the participants 26:17 26 minutes, 17 seconds and investors on on a on the exchange level about I mean about the capacities and investments going forward. 26:25 26 minutes, 25 seconds Okay. Okay. Fair. And this last question if I dial I would request to please rejoin the queue again. 26:32 26 minutes, 32 seconds Yeah. Okay. Thank you. 26:35 26 minutes, 35 seconds Thank you. We will take the next question from the line of Nalanchia from NVS brokerage. Please go ahead and G. 26:43 26 minutes, 43 seconds Congratulations for the entire team for the excellent performance of Q4. I have 26:50 26 minutes, 50 seconds a few questions regarding the our uh sorry. 26:59 26 minutes, 59 seconds Yes, Mr. Na. Please go ahead. No, no, no, no. Please go ahead. 27:07 27 minutes, 7 seconds The line for Mr. Namil has been disconnected. We will take the next participant. 27:16 27 minutes, 16 seconds We have the next question from the line of Kesh Girk from Counter Cyclical PMS. Please go ahead. 27:24 27 minutes, 24 seconds So many congratulations for a extremely uh attractive valuation that you completed in CCT sir. Uh now sir there 27:32 27 minutes, 32 seconds are two questions. So firstly the consolidated abita margin is 14% for Q4. 27:38 27 minutes, 38 seconds So so for FY27 itself you are expecting the AITA to increase uh to the range of 18 to 20% or 27:46 27 minutes, 46 seconds will it be a gradual increase and if so what is the broad AITA uh at consult level for F27 and so secondly we have 27:55 27 minutes, 55 seconds 53% stake in CCT. So any uh road map to increase it and make it uh into a fully 28:02 28 minutes, 2 seconds owned subsidiary or we will stay at this level only. So to take your first question uh the there has been 28:10 28 minutes, 10 seconds enhancement in the hours there has been enhancement in the businesses also you will see that eventually even from this quarter you will see like I said in a 28:18 28 minutes, 18 seconds way that what you saw in quarter 4 was a base things are getting much better than where it is now where it was before 28:26 28 minutes, 26 seconds there is no doubt that eventually we'll be targeting and touching the blended IITA what I mentioned to you uh one of 28:33 28 minutes, 33 seconds the participants just now and uh so Yeah, that's the outlook where we are confident enough to to develop. Coming to your different question about the 28:42 28 minutes, 42 seconds stake. So yes, we have already signed with the founders that 25% of further 28:49 28 minutes, 49 seconds 25% has to be told by them to final tax in January 28th. So that's also going to 28:56 28 minutes, 56 seconds be it's it's part of the agreement. So that's about it. So that's is going to add us to almost 79% or 80%. 29:05 29 minutes, 5 seconds Great sir. Answer my final question that the remaining business non CCT business s so it seems that we have been flattish 29:12 29 minutes, 12 seconds for the past 3 years. So now in F 207 you think we can break out from the range that we have been stuck for the past 2 three years. 29:21 29 minutes, 21 seconds Well I mean I would like to mention to you the volumes have already been picked up number one. Number two, the even if you talk about textile specialtity, so 29:29 29 minutes, 29 seconds our team has been done a commendable job by now. We have already gone up by almost 8% if you compare quarter 4 by quarter 4 year on year basis. So this is 29:38 29 minutes, 38 seconds something which is as you know the last year financial year 26 was the you know almost one of the worst year of the 29:47 29 minutes, 47 seconds decade for the textile company because of the sanctions and the kind of geopolitical situations from the US and a lot of things were moving around and 29:55 29 minutes, 55 seconds uh so going forward there is no doubt that and also no I mean we are already experiencing it from April itself there has been quite a good movement in the 30:04 30 minutes, 4 seconds textile demand and also the textile companies are doing much better than what they were doing before because now India has three big treaties which is 30:13 30 minutes, 13 seconds very important for the textile companies to to export which is UK is zero tax, EU and USA is back. So all the three things 30:21 30 minutes, 21 seconds which has come to India at the same time the fuel cost here is not gone to a different level compared to Pakistan and Bangladesh. So I think the you know the 30:29 30 minutes, 29 seconds industry and the government is doing a commendable job to protect the textile industry. I see a great growth in textile businesses in comparison to the 30:38 30 minutes, 38 seconds last year and that also translates that our businesses is going to go up and not only because of that reason but also because of the reason that we have been 30:47 30 minutes, 47 seconds able to get more uh you know attention from the customers more wallet shares from the existing businesses. So yes that's the the the way it has been 30:55 30 minutes, 55 seconds shaping up. So we are very confident this is also the color year also getting going to get more improved. 31:02 31 minutes, 2 seconds Great. So thank you very much and I'll join the question cube. Yeah thank you. We will take the next 31:10 31 minutes, 10 seconds question from the line of Sunil Jen from Nirmal Bank security private limited. Please go ahead. 31:16 31 minutes, 16 seconds Yeah, congratulations sir for the good numbers. Uh sir uh uh my question relate to uh is it possible for you to share 31:25 31 minutes, 25 seconds the numbers of the crude cam for fourth quarter? 31:30 31 minutes, 30 seconds So I'll be sharing those details with you. It's uh almost no it's almost uh I'll give you the details. It's uh more or less 170 crores or something like 31:39 31 minutes, 39 seconds this on the or 16 165 crores. So that can be shared but as such we are not uh I cannot give most of the details right 31:47 31 minutes, 47 seconds now. We can always connect about it and give you more informations uh with our investor relation company or you can 31:54 31 minutes, 54 seconds contact our uh team members also for that. 31:58 31 minutes, 58 seconds Uh second question sir uh related to working capital for crude cam. So if you can talk uh about that uh how's the 32:06 32 minutes, 6 seconds working capital cycle for them means inventory days or data days for them. 32:12 32 minutes, 12 seconds So actually you know the the times are such now that there is a shortage of raw material sometimes the inventory the logistics are all haywire there's a lot 32:21 32 minutes, 21 seconds of planning been done logistics is globally is not in the right shape. So now the the way to do it would be is not 32:28 32 minutes, 28 seconds to look at too much of a working capital because it's going to get better in future but right now the the number the 32:35 32 minutes, 35 seconds working cycle is almost 80 85 days and that's what it is going on right now to answer that question. 32:42 32 minutes, 42 seconds Okay and uh uh any uh plan for the interruption between Mr. Sunil I would request you to please rejoin the queue again for more questions. 32:51 32 minutes, 51 seconds Great great thank you. 32:55 32 minutes, 55 seconds Thank you. We will take the next question from the line of Karan Kamarad from Choice Institutional Equities. 33:02 33 minutes, 2 seconds Please go ahead. 33:04 33 minutes, 4 seconds Hello. Uh hopefully I'm audible. Uh congratulations sir on a great set of numbers and a great acquisition at a cheap valuations. Uh sir, if you could 33:12 33 minutes, 12 seconds throw some color on working capital again on the last two years it's been on an increasing track. So uh where do you 33:21 33 minutes, 21 seconds expect this number to sort of stabilize and our OCF was also sort of negative for this full year? So is is this 33:28 33 minutes, 28 seconds something to do with the acquisition or how would it work out for uh for the next year? 33:35 33 minutes, 35 seconds Uh perfect. So let me tell you the working capital right now is almost 79 days which is at par with the industry requirements. There is no doubt about 33:43 33 minutes, 43 seconds it. Number two, right now as you can also understand the kind of in uncertaintity in the availability of raw 33:50 33 minutes, 50 seconds materials and other you know other uh logistics and the kind of delays which is happening globally. It's very 33:57 33 minutes, 57 seconds important to keep inventory higher inventories in control because of such kinds of you know you know we have to we 34:07 34 minutes, 7 seconds are committed with our customers and then we need the stock in place. So right now inventory is not the challenge. It's not the focus. Also 34:14 34 minutes, 14 seconds working cycle anything below 90 days is is one of the best ways to work around also keep in mind we have a great negotiation going on that's also 34:22 34 minutes, 22 seconds reflected in the ITAS. So having working cycle little longer uh doesn't lead to any kind of a you know uh you know a 34:32 34 minutes, 32 seconds kind of a discomfort on that line because overall what is important for us is customers trust the stock availability. So it's a strategy which 34:41 34 minutes, 41 seconds is working very well for us and uh so working capital right now is around 79 days but even if it's up to 90 days it's not a big problem for us. So that's 34:50 34 minutes, 50 seconds number one and uh regarding your question as you have rightly spotted out regarding the investment. Yes. uh as the 34:58 34 minutes, 58 seconds company had acquired there has been uh we as per the accounting policy we have to deduct the investments of our 35:06 35 minutes, 6 seconds acquisitions in the operations from cash flow which is a one-time thing and that's already been reflected going forward you will not uh you will have uh 35:15 35 minutes, 15 seconds you know that entry will not be there so obviously you will see the the positive cash flows from operations actually till now also it's positive only however from 35:24 35 minutes, 24 seconds the accounting point of view because the acquisition money has to be deducted from the operations from cash flow. So that's why you can see that kind of uh you know the uh that kind of a number. 35:36 35 minutes, 36 seconds Got it sir. But sir sir uh on on the CCD side uh if you could throw some color on what sort of products are we looking to 35:43 35 minutes, 43 seconds sell and is it service based or is it more product based? That will be my last question sir. Thank you. 35:49 35 minutes, 49 seconds So so anything what we do in finex and CCT is a combination of three things. uh manufacturing specialty performance 35:57 35 minutes, 57 seconds chemicals that's number one providing sustainable solutions by reducing the water content and the time for the 36:04 36 minutes, 4 seconds processing that's number two and number three is providing technical services and the last mile delivery now last mile 36:12 36 minutes, 12 seconds delivery is very very important in in this business or at least in the north American side because service is 36:20 36 minutes, 20 seconds something which is very very important for Americans and the kind of customers I mean they are global giants. 36:26 36 minutes, 26 seconds Everything what they look forward from the c from the vendors is that how much is the what kind of support is there what kind of a you know confirmation on 36:34 36 minutes, 34 seconds the stocks and inventories and everything and deliveries. So that's also one part of it. So this is something which CCT has been doing and 36:42 36 minutes, 42 seconds uh so there has been a lot of modifications in the decisions making in CCT after our involvement and uh like 36:50 36 minutes, 50 seconds there has been increase dramatic increase in the R&D expenditures R&D uh marketing team members have increased uh lot of machinery and production 36:59 36 minutes, 59 seconds activities have have been shaping up. So all in all we have been able to lead this company in a very different uh you 37:08 37 minutes, 8 seconds know into a different uh level already and I think that's helping a lot and uh we we can see what's uh the kind of 37:15 37 minutes, 15 seconds positiveness in the customers and the delight which has come to CCT now. Okay sir. Thank you sir. All the best. 37:24 37 minutes, 24 seconds Thank you so much Mr. Kar. 37:28 37 minutes, 28 seconds Thank you. We will take the next question from the line of Vinn Natka Nutkami from Hatway Investments Private Limited. Please go ahead. 37:38 37 minutes, 38 seconds Thanks for the opportunity and a brilliant set of numbers. Nice to see growth coming back after two years of 37:45 37 minutes, 45 seconds little archets. Uh I just have I mean I can I can touch base with your team later for the financials. I just wanted a couple of things in CCT. 37:56 37 minutes, 56 seconds Do we follow the same logic that you used to follow in FCL which is tailor make products for the customers or uh so 38:04 38 minutes, 4 seconds that you know there is more customer stickiness going forward absolutely that's we pitting our model 38:11 38 minutes, 11 seconds itself so it's exactly the same thing everything is tailor made everything is designed as for the customer in fact to 38:19 38 minutes, 19 seconds be more precise you know like in India we don't have too much of weather fluctuations whereas in US we have to 38:26 38 minutes, 26 seconds you know uh tweak the products accordingly to to have working it in minus 20° with snowfall at the same time 38:34 38 minutes, 34 seconds sometimes it is uh 40° or 45° centigrade also so in fact the challenge there is more there is more customization 38:42 38 minutes, 42 seconds required there which we have been proving ourselves very well was that being done by crew cam even earlier or was it added after you joined 38:51 38 minutes, 51 seconds them no it is already there I mean uh so basically Let me tell you what what uh 38:57 38 minutes, 57 seconds so so basically why this uh so we have actually the you know invested for growth capital let's put it like that so 39:06 39 minutes, 6 seconds our involvement was for growth capital there were lot of advantages which CCT saw in finanotech the technologies the 39:13 39 minutes, 13 seconds kind of way the finex has been evolving from in the last uh 15 years and especially in last six years what has been the way the operational 39:21 39 minutes, 21 seconds efficiencies has been picking up so uh broadly CCT could see that and that's why we were there for uh joining hands and 39:30 39 minutes, 30 seconds taking it to the next level. But CCT had these kinds of strategies in place and uh but there was something which was uh 39:37 39 minutes, 37 seconds required together and this is something which we have achieved now and things are looking much more positive going forward. Great. I think it's a great acquisition. 39:46 39 minutes, 46 seconds Uh just one last question for you. uh when we when you said 18 to 20 blended IATA going forward uh would that be an F27 or would you look at that as F28? 39:58 39 minutes, 58 seconds We are trying our best to to make it as soon as uh you know as as quickly as possible but I think this can be 40:05 40 minutes, 5 seconds reflecting you in this financial year so I won't be surprised rather on that. Okay. Thank you very much. All the best. 40:13 40 minutes, 13 seconds Thank you so much. Thank you Mr. Vet. 40:16 40 minutes, 16 seconds Thank you. We will take the next question from the line of Nan Sha from NBS brokerage. Please go ahead and 40:25 40 minutes, 25 seconds G. First of all, my heartiest congratulations for achieving such brilliant performance in the light in 40:32 40 minutes, 32 seconds the midst of you know such uncertain you know uh world order. It is an excellent performance. Some of the questions which 40:41 40 minutes, 41 seconds comes to my mind is that looking to the future one that what is the kind of a you know I mean uh topline which you 40:49 40 minutes, 49 seconds would like to sort of project in next 3 years because after this acquisition it appears that you know it has become a 40:56 40 minutes, 56 seconds gamecher for the company. So what is the kind of top line you are expecting from here and as you rightly said that Q4 is 41:04 41 minutes, 4 seconds establishing you know the benchmark for the future. So in the light of that I would say broadly we come to the number that your top line could be in the 41:13 41 minutes, 13 seconds vicinity of about 1200 1250 crores and bottom line could be say something like 175 185 crores. So this is my second 41:22 41 minutes, 22 seconds question and my third question is are we going to have any more consideration for acquisitions or we are going to first I 41:29 41 minutes, 29 seconds mean take the full advantage of the you know this acquisition which we already made and then only consider the next uh acquisition if at all. 41:38 41 minutes, 38 seconds Uh thank you so much Mr. Nalin Shah. So uh okay so taking up your first question what I mentioned was the quarter four 41:46 41 minutes, 46 seconds numbers are the base numbers. It's not reflecting uh that uh this is all about it and this is just a base which has 41:54 41 minutes, 54 seconds been set the way the things are going on even in the current scenario the kind of demand coming from the customers I I am 42:02 42 minutes, 2 seconds very sure that there is a lot of things which are going to happen even in this year. 42:07 42 minutes, 7 seconds Excellent. uh going forward I think uh with finiteex organic growth the kind of last year we had a new plant investment 42:14 42 minutes, 14 seconds in India which is uh in Amber plus we have you know the CCT now with us I 42:21 42 minutes, 21 seconds don't uh feel a challenge that it can it can you know go another three four times in the next four years or something like 42:28 42 minutes, 28 seconds that so this is something which is uh within the range and I think we will be looking at it and also keeping in mind 42:37 42 minutes, 37 seconds that ITAS are going to be much better than where it is step by step. So eventually gradually things will get 42:44 42 minutes, 44 seconds much better on that number things again coming to a good touch which you mentioned about further uh plan with the 42:51 42 minutes, 51 seconds inorganic acquisitions. So as you can see Pinotex is very disciplined in deployment of cash and in the in the 42:59 42 minutes, 59 seconds last uh 15 years this is the second acquisition. The first one was done when the IPO came in 2011. That was biotech which is a European producing speciality 43:08 43 minutes, 8 seconds chemical company Malaysia which was where Pinotex acquired 72% in 2011 after the IPO. So this was the second one. So 43:16 43 minutes, 16 seconds anything which comes uh and it's pinotic you know we are we have a very good we look at synergies number one either in 43:24 43 minutes, 24 seconds terms of the markets or either in terms of the chemistries if it's fitting our you know the chemistries which we are doing like polymerization 43:31 43 minutes, 31 seconds sulfonation phosphonation or anything something like that we are always looking at those angles there is a lot of excitement coming in the 43:40 43 minutes, 40 seconds semiconductors businesses uh database water treatment chemicals in US this is something which is already on the cards. 43:47 43 minutes, 47 seconds Uh we have come more professionals in fact Mr. Yusf has also been introduced and he's the M&A head business head and 43:55 43 minutes, 55 seconds also taking care of the investor relationships. So there is a lot of action going on for TAF joint ventures and any kind of stake sales which is 44:02 44 minutes, 2 seconds happening around. So if I can give you something our focus area will more be more on US u and uh and maybe middle 44:10 44 minutes, 10 seconds east also on that line but US is something which is definitely I mean one cannot go wrong in US that's the way it is because the demands are un 44:17 44 minutes, 17 seconds unimaginable so in fact to touch something more uh I spend most of my let's say almost uh every every month at 44:26 44 minutes, 26 seconds least for 10 days or 15 days I'm more or less in US and there's a lot of action going on there is a lot of new uh 44:33 44 minutes, 33 seconds manpower and uh on the business grant being you know added on the team members onboarding a lot of actions are going on that line. 44:41 44 minutes, 41 seconds So uh right now we are looking at certain more opportunities and uh so there's a good cash you know a cash on 44:48 44 minutes, 48 seconds bank at on in finiteex is more than 300 crores even as we speak after doing the acquisition and you know things like this. So and also after 44:57 44 minutes, 57 seconds doing the intro you know the the kind of investment we have done in the inventories and the business scale up and the machines and other things. So 45:05 45 minutes, 5 seconds this is where we are today. I think uh any great opportunity similar to CCT is always welcomed. We are looking at 45:12 45 minutes, 12 seconds certain things as and when we proceed ahead we will always be as usual updating all the investors and 45:19 45 minutes, 19 seconds participants via the stock exchange uh medium and so it's in the mind. So this is so our focus is how do we organically 45:27 45 minutes, 27 seconds grow photex biotech ect and also look at any inorganic opportunities whichever comes on the way. 45:36 45 minutes, 36 seconds Excellent sir congratulations once again and my last question can we just take it as you said you three to four times you 45:44 45 minutes, 44 seconds said that it could be three to four times from the present. So can we assume I mean very very reasonably speaking that in 3 to four years time we could be a 3,000 cr topline company from here. 45:56 45 minutes, 56 seconds Oh yes yeah that if uh the way the things are going on I would not be uh at all surprised if uh if we don't I mean 46:05 46 minutes, 5 seconds touching that numbers will I mean I will be rather surprised if we don't touch it. So excellent excellent sir once again congratulations fantastic and best wishes to the entire team. Thank you. 46:16 46 minutes, 16 seconds Thank you Mr. A thank you. We will take the next question from the line of Anupam Aarwal from Lucky Investments. Please go ahead. 46:28 46 minutes, 28 seconds Yes. Hi, thank you so for taking my question and good morning and congratulations the entire team for a great char of numbers. Uh my first 46:36 46 minutes, 36 seconds question sir would be at group level on the raw material side uh what kind of raw material supply chain tightness are 46:43 46 minutes, 43 seconds you looking at? uh that is one and secondly uh also what level of u at what 46:49 46 minutes, 49 seconds percentage of your contracts are bought and uh what are contracted for basically and what timelines are those contracts 46:57 46 minutes, 57 seconds for so by and large in in the businesses of finex or CCT it's not based on contracts 47:05 47 minutes, 5 seconds it's not government orders where you have to follow the kind of you know the volume commitments or the pricings and again there's a tender there's nothing 47:13 47 minutes, 13 seconds as such Okay. So it's more driven in the similar lines like the way finite tech has been doing. We keep inventory in hand for a month or two. As soon as 47:21 47 minutes, 21 seconds there is a increase in the prices, we start uh talking to our customers to pass on the increase. This is something which we have been doing in CCT also and in finex also that's going very well. 47:32 47 minutes, 32 seconds The only thing is that uh yes as we all experience some kind of logistic issues globally and the freight is you know the 47:40 47 minutes, 40 seconds freight cost and the container shortages already which has been happening in in almost all the sectors. So this is something which we have navigated. I 47:48 47 minutes, 48 seconds think the worst is behind us. I think the last quarter and also the April month was something which was uh a bit 47:54 47 minutes, 54 seconds of a challenge to realign readjust our uh inventory levels readjust our pricing. So there was a lot of efforts a 48:03 48 minutes, 3 seconds lot of time taken and uh and the team has done a very great job and uh to to you you win the trust of the customers 48:10 48 minutes, 10 seconds as well as pass on the the cost to the consumers. So this is what has been done and making sure the margins are maintained. So that is something what we we always love to do. 48:21 48 minutes, 21 seconds So uh on a basket level what how much raw metal price increase have you seen in the fourth quarter and let's say even in April and how much have you been able to pass on? 48:32 48 minutes, 32 seconds So I mean it's a very generalized question actually it's very difficult to answer you numerically there is a lot of things which moves on and sometimes what 48:40 48 minutes, 40 seconds happens if uh I mean from a chemistry point of view I mean how do I put it like if if I I mean if I can give you a 48:48 48 minutes, 48 seconds an analogy like you know if the the price of wheat is going up then we can use meta for the for the food so the consumers readjust it as per the 48:56 48 minutes, 56 seconds chemistry availabilities because these are performance chemicals let me tell you our in I I mean our cost or our 49:04 49 minutes, 4 seconds ingredients of the chemicals is not the whole perspective of the consumers. What is important is either are we able to 49:12 49 minutes, 12 seconds give the right performance is it giving them the right value and solution that's all it counts and so the customers are also very much willing in such times 49:20 49 minutes, 20 seconds they also understand that things are changing they also need to run their show and they know that CCT and biotech are the companies which can be relied 49:28 49 minutes, 28 seconds upon and uh it's already the brand which is shaping up in a very stronger way and I think uh so we are making sure that 49:36 49 minutes, 36 seconds the customers are delighted to work more with us they are also absorbing the increase we keep passing on the increase and uh by launch our team has done a 49:43 49 minutes, 43 seconds very good job that's what I can say understood uh last question what has been the plant level utilization at Amber and at CCT 49:53 49 minutes, 53 seconds so I mean it's a very too too uh too deep a question but uh generally I can 50:00 50 minutes tell you that uh we in we had a good uh volume increase uh also due to the PCT addition so overall we are at 60% % 62% 50:09 50 minutes, 9 seconds broadly at the moment on the quarter four numbers and that's also getting in the quarter one I can see again that that has been going up so yes that is 50:17 50 minutes, 17 seconds something which is uh growing and uh even in the amnut one uh things are getting better than where it is before 50:25 50 minutes, 25 seconds because textile has also picked up the volume has gone up and the volume of textiles has also gone up by I I was 50:32 50 minutes, 32 seconds just checking the the latest is I think it's around 10% or something like that has gone up in the in the volume in the volume basis. So, so yeah, that's uh 50:41 50 minutes, 41 seconds something which is helping us to to go ahead. 50:46 50 minutes, 46 seconds Perfect. Perfect. Thank you so much for for answering my questions and wish you all the best for the upcoming quarters. Thank you. 50:51 50 minutes, 51 seconds So, just to just to complete that part, I just got the numbers in front of me. 50:55 50 minutes, 55 seconds So, it's 15% volume has gone up in textile just to answer that complete that uh question over there. Okay. Understood. Thank you so much. 51:02 51 minutes, 2 seconds Thank you so much. 51:05 51 minutes, 5 seconds Thank you. We will take the next question from the line of Rohit Cherry from Progressive Shares. Please go ahead. Uh 51:13 51 minutes, 13 seconds hi team. Uh uh very congrats uh to RP for receiving this invitation from the honorable president of India. 51:23 51 minutes, 23 seconds Thank you. Thank you very much Mr. W. 51:25 51 minutes, 25 seconds Yes. Yes Sanjay. I've got a few questions. First one is there any uh sort of seasonality that we see in the boot camp business? 51:34 51 minutes, 34 seconds Oh not at all actually. 51:36 51 minutes, 36 seconds uh this is something which you know uh there's no seasonality in this business. 51:40 51 minutes, 40 seconds It's like billing and uh completion production keeps going on and on. US is the best place to be for those segments. 51:48 51 minutes, 48 seconds Uh I mean there is no seasonality on this business. 51:52 51 minutes, 52 seconds Uh so so so on a steady state uh then uh Ken can give us somewhere around 600 650 cr of a top line right? 52:02 52 minutes, 2 seconds Oh yeah easily. There's no doubt about it. 52:05 52 minutes, 5 seconds Okay. Uh can you take us to this uh development uh or maybe this expansion that you're looking at uh Midlands? 52:15 52 minutes, 15 seconds Oh, I mean uh yeah. So, so basically we are adding more capacities there. There has been addition in the R&D team members. Lot of P many PhDs have joined recently. 52:26 52 minutes, 26 seconds So a lot of resources, machines, manpower, everything has been increasing and to maintain these kinds of growth 52:32 52 minutes, 32 seconds rates and uh to readjust the resources we need, you know, we need those kind of investments and that's shaping up very well. 52:41 52 minutes, 41 seconds Any number you would like to put uh that after two years or so what sort of revenue can come from this uh uh things are you know Mr. things are 52:50 52 minutes, 50 seconds getting so uh so quickly changing growing positively whatever I tell you today I don't know I can hold it to to 52:58 52 minutes, 58 seconds after one month or not but you know what we are trying to do right now not to look uh two year 3 years because every 53:05 53 minutes, 5 seconds quarter every half year we feel that oh this is something new which has happened so uh you know so we are trying to look 53:12 53 minutes, 12 seconds at the small the the the initial steps and rather than only look at the in in after two years the three years because 53:20 53 minutes, 20 seconds right now also there has been a big traction in the customers demand. We are we are trying our best to capture as much as you know opportunities we can 53:28 53 minutes, 28 seconds right now which will require more expansion. So expansion is ongoing. So we cannot plan now for two years because already 53:37 53 minutes, 37 seconds whatever we are planning now is for the current quarters and the next quarters that's it. So that's the kind of traction which is we are seeing. Are 53:46 53 minutes, 46 seconds there any sort of uh chemistries which are uh difficult for uh the competitors or somebody to come up or or any uh 53:54 53 minutes, 54 seconds technical barriers which are there which is protecting the business right now for us from CCT. 54:00 54 minutes I mean it's a it's a you know there are a lot many factors it's not only production it's technical services it's the last mile deliveries it's the kind 54:08 54 minutes, 8 seconds of uh customer profile we have these are the companies where it takes two years also to introduce and to get the right 54:15 54 minutes, 15 seconds people in the company so so having these kinds of volumes with this company itself means a lot and you 54:22 54 minutes, 22 seconds know the companies rather even if I talk to you even if you talk about the wallet share I I can I would like to make this 54:29 54 minutes, 29 seconds statement year the wallet share increase with the kind of customers we have right now forget about adding more customers 54:36 54 minutes, 36 seconds can easily go to 5x so rather even if you don't get any new customers I'm just saying hypothetically 54:43 54 minutes, 43 seconds with the same customers we have a potential of going 5x because they are giant companies I mean they are all like 54:49 54 minutes, 49 seconds 50 billion 30 billion uh like Shell and Shell and Exxon if I'm not wrong they are like 500 billion half a trillion 54:57 54 minutes, 57 seconds dollar companies or something like this so I'm trying to say the potential there is enormous and they need companies like us aggregate you know they need 55:04 55 minutes, 4 seconds companies like us to serve them it's not only producing last mile deliveries it's about giving the technical services there is a lot of things involved it's 55:12 55 minutes, 12 seconds not just to it's on the China kind of businesses where we are you know it's it's more customization tailor made solutions and uh also there's a lot of 55:21 55 minutes, 21 seconds like I said the weather is also very important in North America it's not the you know everyone can digest that just to tell you you know just an example 55:28 55 minutes, 28 seconds example it had a snowfall in last January and the snowfall was predicted 5 days 6 days 7 days before all the oil 55:37 55 minutes, 37 seconds companies had to shut down even the pipelines because if there is a snowfall all the pipelines will also get choked so there is a lot of things where you 55:46 55 minutes, 46 seconds know weather is also playing so it's not that the Chinese can come down there or Indians can come down there and and capture the market this doesn't work like that so this is just to give you an 55:55 55 minutes, 55 seconds example about it and uh yeah So uh my last question my last question uh 56:02 56 minutes, 2 seconds that uh we see there's a small uh shift that is happening in the business mix uh but currently if you can tell us that uh 56:09 56 minutes, 9 seconds what is the business mix for maybe uh textile oil field and uh maybe after 2 years or 3 years do you think that it 56:17 56 minutes, 17 seconds would be uh that uh the oil fields will take over the textile business. So let me tell you something from the value 56:25 56 minutes, 25 seconds revenue point of view. Textiles has picked up even in the last quarter. 56:30 56 minutes, 30 seconds Okay. However, however the the percentage on uh composition of textiles 56:38 56 minutes, 38 seconds contribution to re total revenue has gone down to 36% or 35%. This is not 56:45 56 minutes, 45 seconds because textile like I said textile has still grown up but the other industries for us has grown much higher. So that's 56:52 56 minutes, 52 seconds something which has uh uh you know so wherever we are today is growing there is no doubt about it. However with the with the addition of CCT and further 57:01 57 minutes, 1 second more technology transfer some of the technologies we transferred to CCT as well to produce and service the customers there and uh that has also 57:09 57 minutes, 9 seconds helped us to to have more businesses in our u in the newly acquired US company groups. So that's the point. So this is 57:18 57 minutes, 18 seconds something which is going on and uh at the moment almost oil is 60%, oil specialtity chemicals is contributing to almost uh 55 to 60% in terms of value and uh revenue for the quarter 4. 57:30 57 minutes, 30 seconds Okay Sanjay, thank you for answering my question. All the very best. Thank you Mr. Thank you. Thanks a lot. 57:38 57 minutes, 38 seconds Thank you very much ladies and gentlemen. We will take that as a last question. I now hand the conference back to the management for the closing comments. 57:48 57 minutes, 48 seconds So uh thank you everyone. Thank you participants for joining in. I would like to thank all of you and if there is anything you want some further insight 57:55 57 minutes, 55 seconds or information our team will be very much delighted to reply to you as soon as possible you can contact our investor relation team. The email ids are with 58:04 58 minutes, 4 seconds you or you can contact Mr. use of contractor or you can contact the ad factors team and we'll try our best to 58:11 58 minutes, 11 seconds to explain you the developments and going forward you can expect a more stronger uh uh days going forward. Thank you very much. Have a good week ahead. 58:21 58 minutes, 21 seconds Thank you. Thank you everyone. Thanks a lot. 58:26 58 minutes, 26 seconds Thank you members of the management. On behalf of Finotex Chemicals Limited that conclude this conference. Thank you all for joining us and you may now disconnect your lights.