Pricol Limited — Q4 FY26

Pricol Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=dtRww0bhClQ Published: 1d ago

0:00 Ladies and gentlemen, good day and welcome to the Q4 FI26 conference call of Precol Limited. As a reminder, all 0:08 8 seconds participants lines will be in the listenonly mode. There will be an opportunity for you to ask questions after the presentation concludes. Should 0:15 15 seconds you need any assistance during this call, please signal for an operator by pressing star and then zero on your touchstone telephones. Please note that this conference call is being recorded. 0:25 25 seconds I now hand the conference over to Miss Purwangi Jen from Valerim Advisors. Thank you and over to you ma'am. 0:32 32 seconds Thank you. Good evening everyone and a very warm welcome to you all. My name is Purvangi Jen from Valerim Advisors. We represent the investor relations of 0:40 40 seconds Brickall Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the fourth quarter and financial year 2026. 0:51 51 seconds Before we begin, let me mention a short cautionary statement. Some of the statements made in today's call may be forward-looking in nature. that 0:59 59 seconds forward-looking statements are subject to risk and uncertaintities which would cause actual results to differ from those anticipated. Such statements are 1:08 1 minute, 8 seconds based on management's belief as well as assumptions made by and information currently available to the management. 1:14 1 minute, 14 seconds Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's 1:22 1 minute, 22 seconds earnings call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. 1:30 1 minute, 30 seconds Let me now introduce you to the management participating with us in today's earnings call and hand it over to them for the opening remarks. We have 1:38 1 minute, 38 seconds with us Mr. Vikram Moan, chairman and managing director. Mr. MPM Kanesh, chief executive officer and executive 1:47 1 minute, 47 seconds director. Mr. Mr. Shat Manoharan group executive director, Miss Madura Moan, 1:53 1 minute, 53 seconds Executive Director and Mr. Priya Darci Bastia, Chief Financial Officer. Without any delay, I request Mr. Vikram to start with his opening remarks. 2:04 2 minutes, 4 seconds Thank you. Thank you. 2:09 2 minutes, 9 seconds Thank you very much. A very good evening to one and all on this call today. Namaskar ladies and gentlemen. 2:18 2 minutes, 18 seconds I welcome you to the call to discuss the key financial highlights for the year 2:25 2 minutes, 25 seconds ending 31st March 2026 and for the fourth quarter of the financial year 2526. 2:35 2 minutes, 35 seconds The presentation has already been uploaded and I hope all of you have had a chance to see the presentation. 2:42 2 minutes, 42 seconds Nevertheless, I would like to give you some highlights of our performance on a consolidated basis. Our revenue from 2:51 2 minutes, 51 seconds operations for the quarter that has just gone by has crossed the,000 cr to hit,77.9 3:00 3 minutes crores with an EITA of 143.28 crores and an EITA margin of 13.29%. 3:09 3 minutes, 9 seconds Profit after tax of 73.23 23 crores with a pat margin of 6.79% 3:16 3 minutes, 16 seconds with a basic EPS of rupees 6 rupees per share 3:23 3 minutes, 23 seconds for the entire financial year for the year ending 31st March 2026 our revenue from operations was just shy 3:33 3 minutes, 33 seconds of 4,000 crores with an EITA of 492.91 crores with an EITA margin of 12.44 44% 3:42 3 minutes, 42 seconds with a PAT of 250.80 crores pat margin of 6.33% 3:48 3 minutes, 48 seconds with an EPS of 20.57 uh rupees per share. I'm happy to report 3:57 3 minutes, 57 seconds that we have been able to achieve these numbers with the dedicated work of our 4:04 4 minutes, 4 seconds entire team in spite of the multiple headwinds that we faced this financial year. This financial year started off 4:13 4 minutes, 13 seconds with a semiconductor crisis followed by a rare earth magnet crisis followed by the West Asia crisis. In spite of all of 4:22 4 minutes, 22 seconds these headwinds, we have been able to deliver a decent set of numbers to you this quarter and for the entire financial year. 4:32 4 minutes, 32 seconds Our revenue from operations on a consolidated basis because of our inorganic actions has and organic growth 4:40 4 minutes, 40 seconds has resulted in a 43.34% growth quarteron quarter on a comparable 4:47 4 minutes, 47 seconds basis. Evita 62.27 27% increase on a quarteron quarter on a comparable basis 4:54 4 minutes, 54 seconds and for the entire year we have been able to show a increase in revenue from operations of 51.24% 5:03 5 minutes, 3 seconds and the IITA for the entire year has seen an increase on the corresponding prior period of 47.53%. 5:13 5 minutes, 13 seconds With this uh I'd like to move to the uh question and answers. As a matter of u 5:21 5 minutes, 21 seconds protocol, we'd like all uh participants to restrict themselves to one question 5:29 5 minutes, 29 seconds so that others have a chance to join the question queue. And if you have more than one question, we request you to 5:36 5 minutes, 36 seconds rejoin the question queue and you'll be given a chance subsequently. 5:44 5 minutes, 44 seconds Thank you very much. 5:46 5 minutes, 46 seconds Before we start the questions, I'd also like to probably take a few minutes to talk about the outlook where I have 5:55 5 minutes, 55 seconds given quite a cautionary statement as part of the chairman and managing director's statement uh after the board meeting yesterday. 6:04 6 minutes, 4 seconds The West Asia crisis I think is reaching a peak and the disruptions uh of the West Asia crisis or due to the 6:13 6 minutes, 13 seconds West Asia crisis is also starting to hit not just the industry but also the economy quite hard. 6:22 6 minutes, 22 seconds April was reasonably okay because we were had a lot of pipeline inventory, pipeline stocks and raw material that 6:31 6 minutes, 31 seconds were bought at earlier rates. The rupee is on a free fall. Uh polymer prices have gone up by about 55%. 6:40 6 minutes, 40 seconds Aluminium has gone up by about 62%. 6:43 6 minutes, 43 seconds Uh the semiconductors have gone up by about 35%. Memory control devices by about 28%. 6:51 6 minutes, 51 seconds Freight costs are also spiraling out of control both inbound and outbound freight. 6:57 6 minutes, 57 seconds These are multiple headwinds not just affecting your company but the industry as a whole and the economy as a whole. 7:06 7 minutes, 6 seconds All of you would have also seen prime minister's address to the nation on cutting back on consumption uh to save forex and stop purchasing gold etc. 7:18 7 minutes, 18 seconds So the situation is quite bleak but nevertheless we are confident 7:25 7 minutes, 25 seconds of crossing this storm also with the collective efforts of our entire team the support of our customers our 7:34 7 minutes, 34 seconds suppliers and ended by a strong balance sheet. We continue to stay focused on 7:42 7 minutes, 42 seconds midto long-term growth and are not scaling back on any investments. 7:47 7 minutes, 47 seconds whatsoever of capital nature which will hamper the long-term and medium-term prospects of the company. We continue to 7:54 7 minutes, 54 seconds invest as usual heavily on R&D on and on technology to keep developing new 8:00 8 minutes products and new technologies to keep us ahead of the curve compared to competition. So while we are not scaling 8:08 8 minutes, 8 seconds back on any of our critical activities that is going to hamper the growth of the company, we do believe that there 8:15 8 minutes, 15 seconds will be softening of earnings and slowing of the whole automotive sector on account of these geopolitical 8:23 8 minutes, 23 seconds headwinds that are actually sending ripples across the world. Without further ado, we can move to the questions. 8:32 8 minutes, 32 seconds Thank you very much, sir. Ladies and gentlemen, we will now begin with a question and answer session. Anyone who wishes to ask a question may enter star 8:40 8 minutes, 40 seconds followed by one on your touchtone telephones. If you wish to remove yourself from the question queue, you may enter star and two. Participants are 8:48 8 minutes, 48 seconds requested to please use only handsets while asking a question. We will wait for a moment while the queue assembles. Assembles. 8:57 8 minutes, 57 seconds The first question is from the line of Jatin Cha from RTL Investments. Please go ahead. Please go ahead. 9:04 9 minutes, 4 seconds Yeah. Hi, good evening and uh congratulations on a great set of results. Uh and thanks for the opportunity to ask the question. Um my 9:11 9 minutes, 11 seconds question is how do you see your market share on instrument clusters evolve over the next two to three years. Uh and the 9:18 9 minutes, 18 seconds context is you know when we were doing channel checks we figure out that in um the largest OEM in the country there is a group company which is entering the 9:27 9 minutes, 27 seconds instrument cluster business. in one another OEM there is some new competition that is emerging so in that context wanted to understand how do you 9:35 9 minutes, 35 seconds see your market share evolving over the next two to three years two to three years Mr. Shavela. Um good evening. Uh a good 9:44 9 minutes, 44 seconds question. In fact, we just did a complete analysis of our uh share of business. We got an external market analyst agency to come and do a complete 9:52 9 minutes, 52 seconds analysis of the market. And in fact, just last week, we had a workshop on that. Uh we have maintained our market 9:59 9 minutes, 59 seconds share by volume and increased our market share by volume. Competition has always been there. Competition will continue to 10:07 10 minutes, 7 seconds be there. And what differentiates Precore from our competition is our heavy investment on R&D and product 10:14 10 minutes, 14 seconds development which is keeping us ahead of the curve. Will we be able to maintain the market share for the foreseeable 10:22 10 minutes, 22 seconds future for the next 3 years? I do not see any dip in market share because we have got confirmed lois for most of the 10:29 10 minutes, 29 seconds programs. So for the next three years barring degrowth or slowing down of the market loss of market share is not something that we need to fear about. 10:40 10 minutes, 40 seconds Got it. Uh that is very reassuring sir. 10:43 10 minutes, 43 seconds I have a couple of other questions but I'll come back in the queue. Yes please. 10:47 10 minutes, 47 seconds Thank you. The next question is from the line of Sahil Sani from Monak Network Capital. Please go ahead. Please go ahead. 10:55 10 minutes, 55 seconds Yeah. Hi good evening. Thank you for the opportunity and congratulations for very good numbers. Um my question is uh on the on the financials. So uh there is 11:05 11 minutes, 5 seconds some restatement in the FI25 financials if you look at the borrowing lines and see what their line times. I can point it out specifically if required but if 11:13 11 minutes, 13 seconds uh one can explain what's the reason for that uh Mr. Salvi uh we'll get our CFO Mr. 11:22 11 minutes, 22 seconds Basia to answer that question. there have been some changes in the corporate guidelines on how debt has to be treated 11:29 11 minutes, 29 seconds and I will request the Priyan CFO to clarify on that. 11:33 11 minutes, 33 seconds Uh Mr. Sanvi good evening. uh regrouping is on account of the change in index. 11:40 11 minutes, 40 seconds There is a circular which which came up saying that deplete items to be owned as uh borrowing which the customer bill 11:48 11 minutes, 48 seconds discounting and vendor bill discounting which used to be classified under trade payable have been regrouped to borrowing 11:57 11 minutes, 57 seconds that is the borrowing which you can see in the uh boring okay thank you I'll come back in the G thank you 12:06 12 minutes, 6 seconds So just to give you a perspective barring the supplier discounting and the customer bill discounting which earlier 12:13 12 minutes, 13 seconds was hither to treated as uh uh trade payables now actual borrowings as it stands as of 31st March 2026 12:23 12 minutes, 23 seconds net debt is 63.11 crores sure thank you thank you 12:31 12 minutes, 31 seconds thank you the next question is from the line of hesh go from Origin Capital. Please go ahead. Yes sir. Thanks for taking my question. 12:39 12 minutes, 39 seconds Uh and sir what you're not audible. Can you be a little louder please? 12:46 12 minutes, 46 seconds Thanks for taking my question sir. Uh first question is actually based on uh can you give us revenue for FI 26 of the 12:53 12 minutes, 53 seconds three segments like DIS, AC, FMS and PPL revenue. 13:02 13 minutes, 2 seconds Ganesh our CEO and executive director will ask us that question. 13:06 13 minutes, 6 seconds Uh I will give you uh on the total consolidated numbers uh an an approximate number. Uh on the DACS our 13:15 13 minutes, 15 seconds revenue is about uh 60% of our total revenue is coming from DACS 13:22 13 minutes, 22 seconds and the ACFMS is about uh 20% and PL would be about 20%. 13:28 13 minutes, 28 seconds Okay. answer. Uh basically my question is also on uh the TFT uh LCD and analog mix basically for the industry. 13:37 13 minutes, 37 seconds Mr. Goyer request you to rejoin the question queue please if you don't mind. Okay, no problem. No problem. No problem. No problem. Thank you. Thank you. 13:45 13 minutes, 45 seconds The next question is from the line of Aman Agraal from Carnelian. Please go ahead. 13:52 13 minutes, 52 seconds Sir, thank you for the opportunity. My question was basically on the new product and uh new businesses which we have focused on. Uh can we uh can you 14:00 14 minutes please share an update on like uh the PV digital cluster which we were focusing on with Mahindra and data motors and 14:07 14 minutes, 7 seconds also like uh in terms of creating new business on disc brakes and other verticals like how is the update there basically? 14:16 14 minutes, 16 seconds I'll answer it's it's it's okay three parts to that question. First uh PB digital clusters we have grown 14:25 14 minutes, 25 seconds significantly with Tata Motors. We are yet to make an entry into Bahendra. 14:29 14 minutes, 29 seconds Today about 75 to 80% of Tata cars are coming out with pre-course clusters and we are increasing our market share with 14:38 14 minutes, 38 seconds Tata. In fact, the new Safari uh which we launched, the new Sierra I corrected which we 14:46 14 minutes, 46 seconds launched has even won us an award from Tata Motors for uh the development uh which I was happy to receive from the managing director of Tata Motors. Uh 14:55 14 minutes, 55 seconds with regard to disc brakes, we continue to make steady progress with our key customers and we are 15:02 15 minutes, 2 seconds quite sure that we will meet the forecast that I gave for 2030 in terms of disc brakes. 15:16 15 minutes, 16 seconds Thank you. 15:19 15 minutes, 19 seconds Okay. Thank you. The next question is from the line of Danch Gupta from Latin PMS. Please go ahead. 15:27 15 minutes, 27 seconds Hi sir. Uh one question regarding ABS. 15:31 15 minutes, 31 seconds RPD uh manufacturing only the sensors for the ABS or the whole ABS as a package as a package 15:40 15 minutes, 40 seconds and uh is there a plan to we are let me just interrupt you here Mr. Gupta we are not into the ABS. Okay. 15:49 15 minutes, 49 seconds We intend at some time in the future when disc brakes become a mature product for us to get into ABS. At this point in 15:58 15 minutes, 58 seconds time we have not even commenced development or intend to commence development in the immediate future. 16:06 16 minutes, 6 seconds So my question was for that less than 125 cc bike that you are trying to target because of 16:13 16 minutes, 13 seconds the change in the uh regulations no what is the 16:19 16 minutes, 19 seconds that's we were never uh in the ABS product uh we never intended to be in the ABS product in the foreseeable 16:27 16 minutes, 27 seconds future also we never even earlier this question was asked in earlier meetings and that's what we have maintained. 16:33 16 minutes, 33 seconds Got it. Got it. I'll join back. I'll join back. 16:37 16 minutes, 37 seconds Thank you. The next question is from the line of Kush Nahar from Electrum PMS. Please go ahead. Go ahead. 16:44 16 minutes, 44 seconds Yeah. Uh thank you. Uh thank you for the opportunity sir. So I had a question more on the growth side. So like you said that some softness is something 16:52 16 minutes, 52 seconds that we see going ahead in the industry in general and for the company. So I think previously we had a guidance of 13 16:59 16 minutes, 59 seconds to 15% growth from precall and if I'm not wrong we were targeting to double the revenues of um 3PL in the on a base 17:09 17 minutes, 9 seconds of 25s. So are there any changes in this guidance frankly I think we should ask this 17:16 17 minutes, 16 seconds question to Mr. Donald Trump on a on a lighter note because uh we really don't know how long this war is going to 17:24 17 minutes, 24 seconds continue and what the impact is going to be what crude oil prices are going to be like and what the rupee is going to be and if fertilizer uh imports are going 17:33 17 minutes, 33 seconds to be curtailed then agriculture output is going to reduce which rural consumption is going to have an impact so I wish I knew uh but uh even I'm not 17:42 17 minutes, 42 seconds aware uh we are all closely connected in industry and following but I can assure you that we will be continuing to grow at higher than the market uh growth rate 17:51 17 minutes, 51 seconds and with regard to P3L I've given a guidance that we aim to double the turnover in 3 years after taking over the comp company I think we are well on 18:00 18 minutes track to achieve that we have won a lot of new businesses and we are now creating capacities to cater to the new businesses from customers that didn't 18:08 18 minutes, 8 seconds exist before so we are well on track to double our P3s business or probably even exceed uh in the 3-ear time frame that I had promised left. 18:19 18 minutes, 19 seconds All right, sir. Thank you. 18:21 18 minutes, 21 seconds Thank you. The next question is from the line of Chad Jen from MK Global. Please go ahead. Please go ahead. 18:28 18 minutes, 28 seconds Uh, thank you so much for the opportunity. Uh, sir, you did mention about multiple cost pressures in your opening comments. Uh, so any thoughts in 18:37 18 minutes, 37 seconds terms of how are we navigating from a margin standpoint over the next couple of quarters? Would that be largely an automatic pass through to our OEM 18:44 18 minutes, 44 seconds customers or there is some sort of negotiation happening and if at all how how are the progress going on that the situation is evolving Mr. 18:56 18 minutes, 56 seconds there is a lag factor of 6 months. So we are only now getting corrections of uh forex for the Q3 of the last financial 19:05 19 minutes, 5 seconds year but having said that uh we are not going with the normal route. In this case we have uh expedited it and uh we 19:14 19 minutes, 14 seconds have requested uh for uh supplementary invoicing and price correction to be done immediately. 19:21 19 minutes, 21 seconds Most of our customers have taken note of it and still figuring out because the entire industry we've all got together and as a trade body represented through 19:29 19 minutes, 29 seconds ACMA to the uh OEMs but please do understand the impact is so huge that 19:36 19 minutes, 36 seconds they cannot pass on the entire uh thing to the end customer who's the ultimate buyer of the let's say a bike a 19:42 19 minutes, 42 seconds motorbike. If a motorbike goes up by 25 30,000 rupees, it is going to demand is going to really soften or probably 19:50 19 minutes, 50 seconds degrow. So I think personally uh it will it's an evolving process. We have put out an active team that's engaging with our top 10 12 customers to recover cost. 20:01 20 minutes, 1 second I think it's going to be tripartite people have to take. There is going to be a price increase in the vehicle. OEMs 20:09 20 minutes, 9 seconds will absorb some of that shock and I think considering the long-term partnership with the OEMs we also have to absorb some of that shock. How much 20:18 20 minutes, 18 seconds is that number going to be and uh how long is this going to take is is uh probably time will tell but I think next 20:27 20 minutes, 27 seconds quarter we'll have a better idea of uh how much each of the stakeholders in this spy will take. 20:36 20 minutes, 36 seconds Thank you. Thank you so much for the details. Can we recover the entire amount from the OEM? I do not think so. 20:44 20 minutes, 44 seconds Okay. Thank you so much, sir. Okay. Thank you so much, sir. 20:47 20 minutes, 47 seconds Thank you. Next question is from the line of Rangan VI and individual investor. Please go ahead. Please go ahead. 20:53 20 minutes, 53 seconds Good evening. Managing moan I wish are you going to make as chairman or 21:02 21 minutes, 2 seconds like that regarding the company's performance? I think what we have achieved is I think 21:09 21 minutes, 9 seconds we'll be having a very satisfied person because actually in the period we set a target something like that internal 21:17 21 minutes, 17 seconds target I think but I find the margin on the employees this one Mr. Rang can we just take it one question at a time Mr. 21:27 21 minutes, 27 seconds I'd like to thank you. Yes. 2022 I had given a guidance that uh for FI26 we 21:33 21 minutes, 33 seconds will hit the 4,000 cr mark with about debt equity ratio of less than 1 is to1. 21:39 21 minutes, 39 seconds I'm happy to note we have hit that mark but with next to no debt. Uh so I'm happy that we've been our team is able 21:48 21 minutes, 48 seconds to deliver on the promise made to you four years ago right after co once we recovered. Um Mrs. Wikita Moan has 21:56 21 minutes, 56 seconds stepped down as the an active role uh from Precolor and I've taken over as the chairman of the company. She goes on to 22:04 22 minutes, 4 seconds become the chairperson of Precore Holdings, our holding company. 22:09 22 minutes, 9 seconds Okay. Okay. Thank you. I I don't have anything because I think I'm also satisfied with the work. Thanks. 22:16 22 minutes, 16 seconds Okay. I know you may have another question which I will forward answer Mr. 22:20 22 minutes, 20 seconds Angan because this is your favorite topic. So I'll take the liberty you're my old friend and I have known you for 14 15 years. So I'm going to take the 22:27 22 minutes, 27 seconds liberty of giving you a third answer also. As for our dividend policy, we were eligible for uh uh paying out a 22:37 22 minutes, 37 seconds higher uh dividend this year after the interim dividend. But as a matter of caution, our entire board met and 22:45 22 minutes, 45 seconds deliberated on this subject yesterday and we believed that we having already declared an interim golden jubilee 22:51 22 minutes, 51 seconds dividend of 200%. We felt it was it was good to conserve cash knowing fully well that with all the amount of capital 23:00 23 minutes investments and the headwinds ahead of us, it was important to conserve cash. 23:04 23 minutes, 4 seconds So this is something that uh we took a conscious call yesterday. We had the subject of the dividend and the entire board including myself recommended that 23:13 23 minutes, 13 seconds we retain it at a 200% uh dividend for the FI26. See the performance for the six next 6 months and then take a call 23:21 23 minutes, 21 seconds on that subject. I know you probably were intending to ask that question because that's your favorite subject. So I thought I will preempt and answer that for the benefit of other investors also. 23:31 23 minutes, 31 seconds Yeah, very nice. Actually what you have done is a very extraordinate thing. I know that you have done always and nothing to be accomplished now. I'm very happy about that. Thank you sir. 23:42 23 minutes, 42 seconds Thank you Mr. Thank you. Thank you. 23:45 23 minutes, 45 seconds The next question is from the line of Hesh Go from Origin Capital. Please go ahead. Please go ahead. 23:52 23 minutes, 52 seconds Can you tell us what was the exports in FI26 and you have talked about exports being 20% of revenue right? So when can we achieve that? 24:02 24 minutes, 2 seconds No. Uh let me clarify our desire was exports to be 20% of revenue and I've always maintained in my earlier calls. 24:11 24 minutes, 11 seconds So that is one area where we failed to deliver and our goal is to take it to 10% of revenue in the coming years. 24:20 24 minutes, 20 seconds Okay. And as we speak it stands at around 7% of revenue. 24:28 24 minutes, 28 seconds Thank you sir. Thank you sir. 24:31 24 minutes, 31 seconds Thank you. Next question is from the line of Sahil Sangri from Monarch Network Capital. Please go ahead. Please go ahead. 24:39 24 minutes, 39 seconds Yeah, thank you for the opportunity again. Uh my question is can you uh please give us details on the progress uh of your MOU with Bo Electronics and 24:48 24 minutes, 48 seconds also with um uh also with uh Domino and uh the timelines please of uh commencement of um uh commercial sales. 25:02 25 minutes, 2 seconds uh with BOE work has already commenced internally on uh doing the uh backend 25:08 25 minutes, 8 seconds backlight module. Work is under progress on the on the equipment and the machinery and the buildings and we will 25:15 25 minutes, 15 seconds be commencing uh in about 10 to 12 months production with Domino more like 25:22 25 minutes, 22 seconds 18 months to 24 months is where we will be ready and the early stages of revenue 25:29 25 minutes, 29 seconds will start trickling in right with regard to PYW it's a technological partnership where we are using their 25:37 25 minutes, 37 seconds select technologies to develop products for our existing customers. 25:43 25 minutes, 43 seconds Just just to follow up if I may on the valronics side. That's BOE. 25:50 25 minutes, 50 seconds B. Yeah. Yeah. If I if I may. So, um what kind of u uh contracts or what kind of revenue estimates? I mean, if you can 25:57 25 minutes, 57 seconds give some direction, not the number, but maybe some some order book that you have or some visibility going to be adding any incremental revenue. It's only a 26:05 26 minutes, 5 seconds backward integration that's going to strengthen our product offering. Understood. Thank you. 26:12 26 minutes, 12 seconds Thank you. The next question is from the line of Ashwin Patel from LKP Securities. Please go ahead. Please go ahead. 26:19 26 minutes, 19 seconds Yeah. Thanks for taking my question sir. 26:22 26 minutes, 22 seconds Uh my question is regarding the ACFMS business which we had guided for a 30 35% kind of growth in the last call. So 26:29 26 minutes, 29 seconds are we still uh you know maintaining that particular uh uh outlook and uh what would be the outlook for this particular business going forward sir? 26:40 26 minutes, 40 seconds We are working towards 30% growth and particularly with a focus on exports but the headwind since uh since the last 2 3 26:49 26 minutes, 49 seconds months I'm not sure we will be able to meet those numbers because the rupee is on a freef fall uh the crude oil prices 26:55 26 minutes, 55 seconds have gone for a toss uh so like I said I I wish I think we need to wait till September to 27:04 27 minutes, 4 seconds see when the world economy is going to come back to some degree of normaly before we hit that strike under normal 27:12 27 minutes, 12 seconds conditions we should have hit a 30% growth rate year on year so what is our growth rate for this year then till now 27:20 27 minutes, 20 seconds if less than 30% then how much is how much is the number sir how much is the number how much is the number for fi 26 27:28 27 minutes, 28 seconds yeah uh I'd request Ganesh our CEO to answer that please fi 26 we have achieved the 30% growth date. 27:37 27 minutes, 37 seconds Okay. And forward as our chairman and managing director said it is little difficult for us to predict. Maybe after September we can have a better answer in this. 27:46 27 minutes, 46 seconds Okay. So for FI26 it's 30% close to 30%. That's right. That's right. Okay sir. Thank you so much. 27:54 27 minutes, 54 seconds Thank you. Next question is from the line of Priani from Infred AMC. Please go ahead. Please go ahead. 28:02 28 minutes, 2 seconds Uh thank you for the opportunity. I just wanted to ask one uh bookkeeping question. What was our revenue for Sun 28:09 28 minutes, 9 seconds uh from P3L for this quarter along with the margin and also if you could mention the revenue of uh non-dis non-breaks in 28:17 28 minutes, 17 seconds ACpma segment for the entire year for the entire year. 28:23 28 minutes, 23 seconds I will not be able to give you exactly for dis bra for the year as it's still a latent stage. P3L Priyanka can you just 28:30 28 minutes, 30 seconds uh comment about the uh for the year how much turnover we closed at uh for the year P3L generated a revenue 28:39 28 minutes, 39 seconds of 924 crores with a bit of 9.24%. 28:46 28 minutes, 46 seconds But part of this involved a business that had to be transferred back to uh DBS which uh we have also completed the 28:54 28 minutes, 54 seconds transfer as of February. So that segment of business of about 65 crores doesn't uh will not continue. That was not a polymer business. That was a forming 29:02 29 minutes, 2 seconds business which was operating which we operated on contract and on non-break side 29:10 29 minutes, 10 seconds in ACPM segment non-breaks segment non bricks bulk of the revenue 96 97% of the revenue comes from non-breaks it's about 29:19 29 minutes, 19 seconds uh overall this year it's about uh 750 crores. 29:28 29 minutes, 28 seconds Uh thank you sir. And one last thing on raw material side you mentioned that uh raw material uh please request you to join the cube 29:37 29 minutes, 37 seconds please. Uh that's the protocol we've been following. Sure. Sure. Thanks. Sure. Thank you sir. Thank you sir. 29:43 29 minutes, 43 seconds The next question is from the line of B Modi from Swan Investments. Please go ahead. Please go ahead. 29:48 29 minutes, 48 seconds Hi thank you for the opportunity and congrats on a great set of numbers. I was just like to request if you could 29:56 29 minutes, 56 seconds share the segmental numbers in the information cluster segment between the vehicle segments that is 30:05 30 minutes, 5 seconds please get in touch with our uh uh CFO and whatever uh non-competitive data we'll be happy to provide. 30:14 30 minutes, 14 seconds Okay. Thank you sir. I'll call back to the back. 30:17 30 minutes, 17 seconds Thank you. Next question is from the line of Shabbam Batra from Ambit AMC. Please go ahead. 30:23 30 minutes, 23 seconds Hi there, thanks for taking my question and congratulations on a strong set of numbers. was just a bouting question. In your standalone books, your other expenses have shot up by 32%. 30:33 30 minutes, 33 seconds Little slow we I'm not able to understand you. 30:37 30 minutes, 37 seconds Uh sir, in your standalone books, your other expenses have shot up by 32% on a quarter on quarter basis. Any particular one-off that you want to call off? 30:48 30 minutes, 48 seconds Uh I'll request our CFO to answer that please. to whom the expense uh if you compare quarter and quarter yes it has 30:57 30 minutes, 57 seconds gone up two two items which are contributing to that one is forex which is you know it has gone up to 95 rupees 31:05 31 minutes, 5 seconds and uh the other one is the freight because the freight cost is in line with the revenue increase but these two are contributing to the increase. 31:15 31 minutes, 15 seconds Got it. So thank you. Thank you. 31:18 31 minutes, 18 seconds Thank you. The next question is from the line of Aman Agraal from Caroline. Please go ahead. 31:24 31 minutes, 24 seconds Uh sir, thank you for the followup. My question was on P3L basically. So if I see last quarter, this is the number which uh our CFO s gave. We made 11% 31:34 31 minutes, 34 seconds kind of aa margins in P3L. So like can you guide like uh is this something sustainable or do we expect margin to 31:41 31 minutes, 41 seconds revert back to 10 10 and a half% kind of uh margins in this business basically? 31:46 31 minutes, 46 seconds Uh that's an interesting question and that's a strategic call that I've taken also as chairman of that board that we will start forwarding invest uh forward 31:54 31 minutes, 54 seconds investing in P3L in line with precourse uh strategy of investing in technology. 32:00 32 minutes So we are setting up a center of excellence in uh polymer technology. So we will be forward investing in that and also for the new plants that are coming 32:08 32 minutes, 8 seconds up. We will be forward recruiting of personnel and to commission those plants. So there will be a softening of margins uh over two years before the 32:17 32 minutes, 17 seconds benefits of all of this start kicking in. So we will go back to normalized margins of uh 10% or so and then kick back up uh going back. 32:28 32 minutes, 28 seconds Got it. Thank you sir. Uh and if I can uh squeeze in one more question are we looking to get any more M&As basically like we had talking about more deals 32:37 32 minutes, 37 seconds maybe in plastic division. So is there anything we are evaluating and like anything we want to close? 32:44 32 minutes, 44 seconds Yes, we are. 32:46 32 minutes, 46 seconds Yes, we are. But cautiously under the current headwinds, we are being very cautious about capital 32:54 32 minutes, 54 seconds investments and unless the quality of asset is top class with a good set of customers with a good balance sheet with 33:01 33 minutes, 1 second a good management team and uh backed by good manufacturing facilities uh and 33:08 33 minutes, 8 seconds coming with a decent ROI. Uh we are being very selective. In fact, we had a very long discussion at the board meeting yesterday on the various assets 33:16 33 minutes, 16 seconds that uh we are considering and we have taken some calls and actually active negotiations and due diligence is in progress. That's all I can say at this time. 33:26 33 minutes, 26 seconds And so this is on mainly plastic side or some other business segment. 33:31 33 minutes, 31 seconds Uh it will we are evaluating multiple opportunities. 33:36 33 minutes, 36 seconds Okay. Thank you sir. Thank you for answering my question. All the best. Thank you. 33:41 33 minutes, 41 seconds Thank you. The next question is from the line of Kush Nahar from Electum PMS. Please go ahead. Yeah. 33:51 33 minutes, 51 seconds Bit on the content for vehicle. So what is it today and considering the new products in the pipeline that we have across this segments? How do we see uh 34:00 34 minutes it panning out over the next 3 to 5 years? 34:04 34 minutes, 4 seconds It's very difficult to uh answer that question. Uh uh Mr. 34:08 34 minutes, 8 seconds because you have a 4,000 rupee cluster on a Tata car and then you have a 30,000 rupee cluster in a TVS BMW or a BMW uh 34:16 34 minutes, 16 seconds motorbike or you have a,000 rupee cluster and then you have 3,000 rupees of uh plastics and a,000 odd rupees of 34:24 34 minutes, 24 seconds SPM. So I think a broad-based question like that based on the CC of the vehicle or the OEM is very difficult to answer. 34:32 34 minutes, 32 seconds So directionally considering the profile do we think and considering the TFT mix that is changing maybe we can uh double 34:40 34 minutes, 40 seconds or 1.5 to 2x our realization in terms of content per vehicle content for example uh we've opened our account 34:48 34 minutes, 48 seconds with Honda on clusters on pumps and on uh uh plastics right now so our content per vehicle from literally very low in 34:56 34 minutes, 56 seconds Honda is going to go up very high TVs we are already very high and we are now de-risking by working on other 35:03 35 minutes, 3 seconds customers. So yes, our intent is with about 10 strategic customers to keep increasing our ball share so that you 35:10 35 minutes, 10 seconds know we are at least 50% higher than what we are today in the next 3 years. 35:16 35 minutes, 16 seconds Right sir so just if I can add one more question what will be the capeex figure for the next 3 years? 35:23 35 minutes, 23 seconds We are uh I'm happy to that's a good question and uh in fact I was wanting to you use that as my closing note. Uh I'm 35:32 35 minutes, 32 seconds happy to inform that we have a very very healthy pipeline of uh new business both uh domestic and international across all 35:39 35 minutes, 39 seconds our divisions be it for ACFs or polymer or uh for um DICBS. We are starting our 35:48 35 minutes, 48 seconds next major cycle of capex this year as our previous cycle of capex has come to an end and our capacity utilization has 35:56 35 minutes, 56 seconds reached a peak. In fact, so much so that in plastics we are unable to grow this year because of lack of capacity. Uh which is why you see uh the ROC at a 36:05 36 minutes, 5 seconds very high figure compared to um you know what I had given guidance for because of sweating the capital assets. So we are 36:12 36 minutes, 12 seconds starting a major cycle of capex. Uh in fact this year it's in itself uh we have planned for about between 680 to 700 36:20 36 minutes, 20 seconds crores of capex to cater to all of our new businesses that we have won new 36:27 36 minutes, 27 seconds plants new machines uh so on and so forth which will keep propelling us forward and m to maintain this growth 36:34 36 minutes, 34 seconds momentum. So there will be some amount of debt as I mentioned but a very healthy amount of debt. I'm always very conservative when it comes to debt. A 36:42 36 minutes, 42 seconds lot of our investors keep telling us that I'm a little risk averse but I prefer to remain that way. So we will have a debt equity ratio of probably 36:50 36 minutes, 50 seconds about.5 or 6 not even hitting one. Uh and that's how we plan to operate. 36:57 36 minutes, 57 seconds Right. Thank you. Right. Thank you. 37:00 37 minutes Thank you ladies and gentlemen. That was the last question. I now hand the floor back to the management for closing comments. 37:07 37 minutes, 7 seconds Closing comments. 37:11 37 minutes, 11 seconds I'd like to thank uh everyone for participating and for some great questions. I'm sorry I could not give a 37:18 37 minutes, 18 seconds clear answer especially with regard to the growth because it's affected macroeconomic factors, geopolitical factors over which we have no control. 37:27 37 minutes, 27 seconds But the management will leave no stone unturned to recover all cost possible and control all cost possible to 37:35 37 minutes, 35 seconds maintain earnings. But having said that there will be some softening of earnings. This is the voice of not just 37:42 37 minutes, 42 seconds Pricorn but the voice of the industry and this is going to be a short-term pain and we just hope and pray that this 37:49 37 minutes, 49 seconds entire geopolitical mess comes to an end sooner rather than later and all of us can focus on strategically growing the 37:57 37 minutes, 57 seconds business for the mid to long term. We stay committed to our mid to long-term uh projections, our investments and our 38:04 38 minutes, 4 seconds recommmitment to technology. And uh in the polymer business we are going to be investing in technology and converting it from a component maker to a value 38:13 38 minutes, 13 seconds added polymer player and we do hope that those will also pay dividends like in our other divisions in the years to come. Thank you very much for your 38:22 38 minutes, 22 seconds confidence in the company and I look forward to connecting with you on the H1 call 6 months from now. Thank you. Good evening. Namaskar. 38:31 38 minutes, 31 seconds Thank you very much sir. On behalf of Pricole Limited that concludes this conference call. Thank you all for joining us and you may now disconnect your lines. Thank you.