RIR Power Electronics Ltd — Q3 FY26

RIR Power Electronics Ltd Q3 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=6jTHJ45Zhhs Published: 2 months ago

0:00 Ladies and gentlemen, goody and welcome to earnings conference call of RIIR Power Electronics Limited arranged by 0:09 9 seconds Veritas Reputation. At this moment, all participant lines are in the listenon mode. Later we will conduct a question 0:17 17 seconds and answer session. At that time, if you have a question, please press star RN1 on your touchstone keypad. Please note that this conference is being recorded. 0:26 26 seconds I now hand the conference over to Mr. Abhishek Savin from Verita Reputation. Thank you and over to you Mr. Savin. 0:35 35 seconds Good morning everyone. On behalf of RIIR Power Electronics, I extend a warm welcome to all participants joining us 0:45 45 seconds for the Q3 FY26 earnings conference call. We appreciate your time and interest in joining us today to discuss 0:53 53 seconds the company's performance for the quarter ended December 31st, 2025. We truly value your continued interest and 1:00 1 minute support. As you are aware, the financial results for the Q3 FY26 has already been 1:08 1 minute, 8 seconds disclosed to the stock exchanges and are also available on our website. 1:14 1 minute, 14 seconds Accordingly, today's session is designed to provide a deeper insight into our business strategy, operational progress, 1:22 1 minute, 22 seconds industry outlook, and the company's long-term value creation journey. 1:27 1 minute, 27 seconds Following the opening remarks by our management, we will open the floor for a Q&A session. Kindly keep your questions 1:35 1 minute, 35 seconds concise and relevant to allow broader participation. Before we begin, I would like to remind you that some of the 1:42 1 minute, 42 seconds statements made today may be forward-looking in nature. These are based on our company's current expectations and are subject to various 1:50 1 minute, 50 seconds risk and uncertainties that could cause actual results and outcomes to differ materially. 1:57 1 minute, 57 seconds Joining us on the call today are Mr. Harsh Ma non-executive chairman, Mr. N. 2:04 2 minutes, 4 seconds Romesh Kumar, managing director and chief executive officer and Mr. Rankit 2:11 2 minutes, 11 seconds Sha, financial controller. With that, I would like now to hand over the call to 2:18 2 minutes, 18 seconds Mr. Harsh Meta, our non-executive chairman for the update on the financial performance and the company's over company's overview. Over to you, sir. 2:30 2 minutes, 30 seconds Thank you, Abishek G. Uh good morning everyone. 2:35 2 minutes, 35 seconds Once again I thank all of you for joining us today for our IR powers Q3 FY26 2:42 2 minutes, 42 seconds earning call. I am Hara non-executive chairman at powered 2:50 2 minutes, 50 seconds and it is my pleasure to walk you through company performance for the slaughter uh December 31st 2025. 3:00 3 minutes I'm sorry to interrupt you update. 3:02 3 minutes, 2 seconds I'm sorry to interrupt you. Your audio is not here sir. 3:07 3 minutes, 7 seconds Uh can you use your speaker sir? 3:15 3 minutes, 15 seconds Ladies and gentlemen, kindly stay connected while we reconnect the line for Mr. Harshagna. 3:23 3 minutes, 23 seconds [music] 3:27 3 minutes, 27 seconds [music] 3:34 3 minutes, 34 seconds [music] 3:40 3 minutes, 40 seconds [music] 3:45 3 minutes, 45 seconds [music] 3:57 3 minutes, 57 seconds [music] 3:58 3 minutes, 58 seconds Ladies and gentlemen, Mr. Hash Ma has been reconnected. Over to you, sir. 4:11 4 minutes, 11 seconds I'm sorry, sir. Your audio is still not clear. 4:14 4 minutes, 14 seconds Uh Michelle, I think there is some problem with uh Mr. Arshad Meta's line. 4:21 4 minutes, 21 seconds Um uh I would say if Ankit Sha will uh just take uh the numbers. 4:28 4 minutes, 28 seconds Sure sir. Sure sir. Please please please go ahead sir. 4:33 4 minutes, 33 seconds Yeah. Uh thank you Mr. Ma. I'd like to clarify that we are discussing on the historical numbers. Please do note that 4:41 4 minutes, 41 seconds anything said on this call that reflects the outlook towards the future would be construed as a forward-looking statement. Having said that now we'll 4:50 4 minutes, 50 seconds just take you through the Q3 numbers and 9 months uh result numbers. I'll begin with the performance for the Q3 FI26. 4:59 4 minutes, 59 seconds Now the revenue stood at 20.27 crores while the AITA for the quarter came at 5:06 5 minutes, 6 seconds 0.86 crores. Consequently the PAT stood at 0.44 crores while the earning per share stood at 0.06 per share. 5:17 5 minutes, 17 seconds Now in comparison to that the performance for the 9 month FI26 is as follows. The revenue for the 9 months 5:25 5 minutes, 25 seconds stored at 66.92 crores versus 59.74 crores for the same corresponding 5:31 5 minutes, 31 seconds period. Abita came in at 8.11 crores as compared to 7.95 crores. Consequently, 5:40 5 minutes, 40 seconds PAT stood at 5.33 cr as compared to 5.73 crores. Whereas earning per share stood 5:48 5 minutes, 48 seconds at 0.74 per share as compared to 0.75 per share for the corresponding 9-month 5:55 5 minutes, 55 seconds period. A Q3 numbers reflected a temporary moderation arising from realignment of certain orders due to 6:04 6 minutes, 4 seconds customer-driven scheduuling changes, increase in material consumption cost and provision for cost due to introduction of new labor laws. 6:19 6 minutes, 19 seconds Now I'll hand over to Mr. Ma to share the other business and development updates. Over to you Mr. Ma. 6:27 6 minutes, 27 seconds Thank you Ankit. Is it better? Yes, please. Much better. 6:35 6 minutes, 35 seconds Okay, good. Thank you. I'm sorry about my audio issues here, but I'm glad Ankit uh covered the detailed [clears throat] 6:43 6 minutes, 43 seconds workings and so forth. I would like to at least uh welcome first of all welcome our new MD 6:51 6 minutes, 51 seconds and uh and CEO Ravish Kumari he he's present uh he has worked he will give you a background but he is very well 6:59 6 minutes, 59 seconds respected very well known and I'm very happy and excited to 7:06 7 minutes, 6 seconds have him uh lead RI to new phase of growth uh and I just want to give you an update on the existing businesses is uh 7:15 7 minutes, 15 seconds first of all Odisa we are very close to getting clean room started uh by about February end or or mid-March most likely 7:24 7 minutes, 24 seconds February end uh even though while we are constructing the clean room this fiscal year we have generated about 100 uh 7:33 7 minutes, 33 seconds [clears throat] 1 k of uh revenue uh between second quarter and third quarter uh last quarter we did our first 7:43 7 minutes, 43 seconds international shipment to a very uh reputed global dealer and there's a sample order of $20,000. Uh once that is 7:52 7 minutes, 52 seconds uh evaluated, we expect uh we expect volume orders from uh Richardson 7:59 7 minutes, 59 seconds Electronics which is the one of the largest and the most reputed distributor. From halal perspective, we 8:07 8 minutes, 7 seconds are really surpassing uh records but in a commercial sense uh we we 8:15 8 minutes, 15 seconds [clears throat] 8:16 8 minutes, 16 seconds provided and we we tested almost 10 megawatt uh rectifier for base power for 8:22 8 minutes, 22 seconds rocket launcher and 10 me 10 megawatt I know financial people like zeros 10 to 8:29 8 minutes, 29 seconds the six watt uh compared to our car battery our car chargers and car batteries those are 8:37 8 minutes, 37 seconds about 1 kilowatt and uh we are talking 10 what 10 10 megawatt is about 10 to the 7 times what the car power is. 8:47 8 minutes, 47 seconds Secondly we are also uh very close to finishing up a unique high voltage capacitor [clears throat] discharge 8:55 8 minutes, 55 seconds switch for Indian army which is about 10,000 volts and 200,000 amps. So as you 9:01 9 minutes, 1 second can see we are we have a core expertise that we have been saying in terms of medium and high power and that is proven 9:10 9 minutes, 10 seconds because of the fact that army as well as uh the Indian railways DHL and so forth 9:19 9 minutes, 19 seconds uh do rely on us and we are the only company in India to be able to provide this component. We are by the way 9:26 9 minutes, 26 seconds replacing ABB from this applications. Uh so we are certainly making progress. 9:33 9 minutes, 33 seconds This product that we make has a longer incubation cycle but we are second to none technically and we are proving that 9:42 9 minutes, 42 seconds we can provide the power we can provide the product to global standard or even better. Now I want to introduce uh Mr. 9:53 9 minutes, 53 seconds Romesh Kumar. uh he we have been discussing with him for at least two years but I'm glad he is finally on 10:00 10 minutes board uh effective February 11 uh he is a MD and CEO [clears throat] of RAIR 10:08 10 minutes, 8 seconds uh power electronics so Romesh Gri please share us your vision 10:16 10 minutes, 16 seconds thank you Mr. A I'm privileged to take up this role as MD and DEO for R4 limited. I'm sure some of you may be 10:24 10 minutes, 24 seconds knowing from my CG time as well as my very short stint with uh the deficient 10:30 10 minutes, 30 seconds engineers limited. So I joined RA for Limited on 11th as MB and CEO and uh 10:39 10 minutes, 39 seconds just to give you my background I am an analytical engineer from MNIT Alahabad Bed out in 1984. 10:46 10 minutes, 46 seconds I started my career as graduate engineer traininee in uh those days then the GC of India limited which is largest 10:56 10 minutes, 56 seconds electrical equipment manufacturer and after having worked for almost about six years close to CCS then I moved to EG 11:04 11 minutes, 4 seconds power sir I'm sorry to interrupt you uh so there is a static on the line I would request you to kindly use your handset 11:13 11 minutes, 13 seconds with the speaker so because headphones are creating those static I believe no there is no headphone actually I think there some and there is air dist okay okay 11:21 11 minutes, 21 seconds understood sir so no problem carry that's it and that's the reason so uh then I joined limited uh in 1990 11:31 11 minutes, 31 seconds and then first 20 years I was in sales marketing which my major roles in different locations headed some branches 11:38 11 minutes, 38 seconds and the product line as a national sales head and then from 2010 onwards I've been handling Um the P&L responsibility 11:47 11 minutes, 47 seconds for various products started with pumps and then lighting and then motors. Um and then also in impact in consumer also 11:56 11 minutes, 56 seconds I was in bed before we hyped up and then the major contribution is when uh in 19 12:05 12 minutes, 5 seconds sorry 2019 August you know company was declared as fraudulent and then I many senior leaders left the organization. 12:14 12 minutes, 14 seconds and I was heading the entire organization organization reporting to the um board. Uh there is a time my 12:22 12 minutes, 22 seconds challenge was to keep the company running without much u working capital you know without allowing it to go to 12:31 12 minutes, 31 seconds NCT. So that was the challenge which I have achieved and then took over. So there after what has happened there is a 12:39 12 minutes, 39 seconds book called you know the great revival by Nataniasan and also part is written there about how we managed during the difficult times. 12:50 12 minutes, 50 seconds So that's my brief uh background after after I left uh CG I joined company called Engineers Limited at Npur for one 12:59 12 minutes, 59 seconds year I was there almost then I thought it was basically a mechanical engineering company. So being an electrical and electronics I was 13:08 13 minutes, 8 seconds interested in coming back to uh my subject uh relevant subject. So that's 13:14 13 minutes, 14 seconds how I took up this um responsibility and I look forward to leading RA into the next phase of growth and setting the 13:23 13 minutes, 23 seconds benchmark for performance and excellence across the sector. Thank you very much. Over to you Mr. M. 13:31 13 minutes, 31 seconds Thank you Mr. I think we are we are really we really appreciate uh and patient space. It will only been two 13:39 13 minutes, 39 seconds years but we certainly hope we will never have to see what you faced at CG in terms of difficulty. I think we are 13:48 13 minutes, 48 seconds really poised for growth. We have a good team. Uh we need the leadership and I believe we are in a strong [clears throat] strong hand in terms of 13:56 13 minutes, 56 seconds leadership perspective. So I'm looking forward to a a good time ahead for 14:03 14 minutes, 3 seconds shareholders as well as investors and employees and all of us. Thank you sir moderator. 14:12 14 minutes, 12 seconds Thank you very much sir. Ladies and gentlemen, we will now begin with the question and answer session. Anyone who wishes to ask questions may please press 14:20 14 minutes, 20 seconds star and one on the touchstone phone. If you wish to withdraw yourself from the question queue, you may press star and two. Participants are requested to use only handsets while asking a question. 14:32 14 minutes, 32 seconds Ladies and gentlemen, we will wait for a moment while the question assembles. You may please press star and one to ask questions. 15:00 15 minutes Anyone who wishes to ask questions may please press star and one now. 15:20 15 minutes, 20 seconds The first question is from the line of Sep Rao from Caner Bank Securities. Please go ahead. 15:27 15 minutes, 27 seconds Uh thank you Mr. Ma and welcome Mr. 15:31 15 minutes, 31 seconds Romesh Kumar as MD and CEO of our company. Sir I have a few questions sir. 15:37 15 minutes, 37 seconds uh last few one year back we have developed many new products for uh different 15:44 15 minutes, 44 seconds industries like uh uh railways as well as coal mining defense and other things. 15:50 15 minutes, 50 seconds What what is the concentration? Which products are we going to concentrate? 15:55 15 minutes, 55 seconds That is question number one. And uh question number two is regarding your bank tie up whether last phone call you are told that you are looking for a bank 16:04 16 minutes, 4 seconds high up for working capital as well as a term loan. So whether that has been finalized. Uh number three is regarding 16:11 16 minutes, 11 seconds that electricity and other things were there where you are selling high tension wires and other things are required whether that has been completed. 16:19 16 minutes, 19 seconds And number four is regarding ISM2. Where do we stand regarding ISM2? And uh finally uh regarding NF listing what is the status? Thank you. 16:31 16 minutes, 31 seconds Yeah. [clears throat] Um thank you for all reminders for all the important issues that uh we are 16:38 16 minutes, 38 seconds working on and uh so in the line in terms of the NSC issue I 16:45 16 minutes, 45 seconds start from the back. uh we had quite a few things uh that kept us busy 16:52 16 minutes, 52 seconds specifically the stock options plans and so forth that was we were able to bring in Romesh Kumar GI so there are some 17:00 17 minutes priorities uh but NSE is equal priority and that's our next uh action to finish 17:07 17 minutes, 7 seconds it by March 31st or as soon as we possibly can uh in terms of the power we 17:14 17 minutes, 14 seconds have been fighting I was in Bumhwar uh for 2 days a week ago uh we had a 17:21 17 minutes, 21 seconds conference call they changed some uh changes in the organization and now we do feel that we have actionoriented 17:30 17 minutes, 30 seconds people and they have committed at least we requested the power to be all on by 17:37 17 minutes, 37 seconds March 31st and they will give us a deadline they're going to try for it and they would give us a deadline by this 17:45 17 minutes, 45 seconds Friday So we can certainly uh post it on the website or or make you aware of it what it is. We are pushing for March 17:54 17 minutes, 54 seconds 31st and because by that time both our reactors will be on ground and we should 18:01 18 minutes, 1 second be able to start qualification for the app. Uh regarding the bank we are moving forward. We've been discussing with two 18:10 18 minutes, 10 seconds banks. Uh I won't name them but we are about 90 95% done. uh I would ask an if he is any update. 18:21 18 minutes, 21 seconds Yeah. So basically we are expecting a in principle approval uh this week uh which 18:28 18 minutes, 28 seconds will be followed by a committee approval which we anticipate will take around couple of weeks more. So uh maybe by uh 18:38 18 minutes, 38 seconds first week or second week of March uh we should be able to uh get a positive response and tie up for the uh debt portion uh with the banker. 18:51 18 minutes, 51 seconds Okay. the your your question about the priorities we we certainly have niche 18:58 18 minutes, 58 seconds product but if you look at it uh overall from last at least year and a half plus 19:04 19 minutes, 4 seconds there is a significant push towards self-reliant India and what that matters 19:12 19 minutes, 12 seconds we will be keeping pushing for infrastructure in intensive project 19:18 19 minutes, 18 seconds where we will gain the volume top line as well as bottom online both uh mining we will work with Kiloskar or other people as an OEM supplier. 19:29 19 minutes, 29 seconds [clears throat] We are working with Gindal Steel in terms of resolving their power quality issues which is causing the magnetization effect. We are we keep 19:37 19 minutes, 37 seconds on doing all of those but at the same time [clears throat] our product would be applicable to all 19:45 19 minutes, 45 seconds of the industries which are power sensitive as well as reliability sensitive. So from that perspective uh 19:53 19 minutes, 53 seconds defense, aerospace uh as well as grid and renewables these are the four major 20:01 20 minutes, 1 second structures including railways our core business too. So those five will keep on following. 20:10 20 minutes, 10 seconds Okay. 20:12 20 minutes, 12 seconds Uh from uh we would like to know from Mr. 20:16 20 minutes, 16 seconds Romesh Kumar what is his vision for this company and where does he think I what are the challenges he thinks he's he he 20:25 20 minutes, 25 seconds will face more than you know challenges or vision right now 20:35 20 minutes, 35 seconds it is just in three days I I I cannot drive with that but definitely I can tell you that there are I have taken 20:43 20 minutes, 43 seconds three targets for internally and three targets externally Extra is know strengthening my sales organization 20:50 20 minutes, 50 seconds first and then enhancing the reach and u strengthening the inquiry pipeline converting them into orders and 20:59 20 minutes, 59 seconds identifying new application new products and new areas of businesses and then also brand building 21:06 21 minutes, 6 seconds I know visibility of our product though we have lot of good technology I don't think it is very well visible in in the 21:14 21 minutes, 14 seconds industry and participation in exhibitions that will give us some edge into visibility also other than the 21:21 21 minutes, 21 seconds social media and also the customer connect I think uh the relationship building with customer vendors and the 21:30 21 minutes, 30 seconds you know employees. So that is my three priorities as far as external is concerned and internal is considered more than is operational excellence. 21:40 21 minutes, 40 seconds First we try to see what is the capacity capacity mapping and then bottl how to overcome the bottleneck operations and 21:48 21 minutes, 48 seconds then improving the productivity and also I would like also like to see the ID infrastructure uh for the better control 21:56 21 minutes, 56 seconds in the organization as well as faster response to the customer and obviously the my third priority will be looking 22:06 22 minutes, 6 seconds into research project what is going to happen what's happening there. Hope I answered your question. 22:15 22 minutes, 15 seconds Yeah. Yeah. Sir, when when can we expect the opening of the factory? I mean as a commercial production, when can we expect the date by when we can you will be announcing to exchanges or anywhere? 22:29 22 minutes, 29 seconds So yeah. So we have uh I'm I'm assuming you are talking about uh facility. 22:37 22 minutes, 37 seconds Yes. [clears throat] Yes sir. Yes sir. 22:39 22 minutes, 39 seconds Yeah. And uh when we met the government people last week as I mentioned I told them within 90 days once we get the 22:47 22 minutes, 47 seconds power we will have the commercial production started at Basher facility. 22:55 22 minutes, 55 seconds Okay. [clears throat] So so you are telling that the the uh once the uh 23:02 23 minutes, 2 seconds electricity is given after that 90 days is required. 23:06 23 minutes, 6 seconds Correct. Correct. because I can control my what I need to do. I cannot control electricity except I push government. 23:14 23 minutes, 14 seconds That's why I'm pushing. 23:17 23 minutes, 17 seconds I sir in your opening remarks you told that you have already started production of around 1 cr. So uh can you elaborate 23:24 23 minutes, 24 seconds whether in the coming period for this Q4 uh you will be still again producing some boner projects? 23:34 23 minutes, 34 seconds Yeah. So if you remember we RI have received the IP uh and then what we are trying to do so 23:43 23 minutes, 43 seconds that we don't waste time and we we get the visibility in RI name in the product that we are uh making making it with at 23:52 23 minutes, 52 seconds a contract manufacturer in Taiwan and Korea under RI's name with RI IP and selling it through RI as our customers. 24:02 24 minutes, 2 seconds So first first shipment was for uh Indian Navy and second shipment went to this uh international distributor. 24:11 24 minutes, 11 seconds Okay. Okay. Okay sir. I think I will uh come back once I think others will be in the line. So I'll come back with further questions if Thank you. 24:20 24 minutes, 20 seconds Sure. Sure. 24:23 24 minutes, 23 seconds Thank you. A reminder to all the participants that you may please press star and want to ask questions. The next question is from the line of Pratik Kiri 24:32 24 minutes, 32 seconds from Shublap Research. Please go ahead. 24:37 24 minutes, 37 seconds Hi. Uh hi Mr. Meta, greetings. I hope I'm audible. Uh Mr. Meta, my uh first 24:43 24 minutes, 43 seconds question uh is on uh you know uh the little bit delay in the project. uh I understand there has been a lot of back 24:52 24 minutes, 52 seconds and forth uh from the government uh in terms of uh dispersement and power and uh other issues. I just wanted to 25:01 25 minutes, 1 second understand uh you know are we receiving further branches of money which USA government is supposed to uh give us and 25:09 25 minutes, 9 seconds what is the current utilization of the money which we have received earlier probably 32 crore we had received. So 25:16 25 minutes, 16 seconds how has been the utilization of that money so far? 25:20 25 minutes, 20 seconds Okay, sure. So I think uh Ankit can answer that question but I can also tell you that the first we were uh once they 25:29 25 minutes, 29 seconds got the approval we had spent about 64 crores uh 25:36 25 minutes, 36 seconds before the first dispersement. So 32 cr was half of 64 cr. That's that money 25:43 25 minutes, 43 seconds that we already had spent on reactors, cleaning room, uh infrastructure and so forth as well as uh customer uh vendor 25:52 25 minutes, 52 seconds advances and things like that. And since then we have also received second trench 25:58 25 minutes, 58 seconds of I think 50 total for 52 K. So we got 26 K from Modisa. Can you please confirm uh Ankit? 26:08 26 minutes, 8 seconds That's all right sir. 26:11 26 minutes, 11 seconds Okay. And can you can you give the response on the uh nature of expenses where that funding is going? 26:18 26 minutes, 18 seconds So uh so on the nature of expenses basically the entire uh pool of funds is 26:26 26 minutes, 26 seconds used towards purchase of equipments for capex purposes only. It is not for any operational expenses and stuff and uh 26:35 26 minutes, 35 seconds this this money is parked in an escrow account which is monitored by the government authorities as well and the 26:43 26 minutes, 43 seconds entire fund is used towards capeex for purchase of equipments and tools and so on. 26:51 26 minutes, 51 seconds Hope this answers your question. Yeah. 26:54 26 minutes, 54 seconds Yes. I was just wondering so we have received now 52 cr. Is that right? We received 32 a year and another 20 has been received. Correct. 27:04 27 minutes, 4 seconds So uh 26 crores we have contributed to an escro account which the same contribution has been matched by the 27:11 27 minutes, 11 seconds government which makes it to total 52 crores. 27:16 27 minutes, 16 seconds So should I add up 64 and 52 or this 52 is a part of 64 only? Anit I'm sorry uh 27:22 27 minutes, 22 seconds to press on it. No. So if you want to calculate total capex, it would become 65 + 52. 27:31 27 minutes, 31 seconds Okay. Got it. So probably two branches have been received from the government. 27:37 27 minutes, 37 seconds Correct. Correct. And and and half of that we have received and uh third will come on our our 27:43 27 minutes, 43 seconds packaging part about close to 100 100 plus cr total. So we'll get 50% of it. 27:51 27 minutes, 51 seconds Understood. Understood. Uh Mr. M uh I'm sorry to press again. I understand you know working with government is not that 27:58 27 minutes, 58 seconds easy and yet we are uh moving the ports probably every every uh 15 days but uh 28:06 28 minutes, 6 seconds how confident are you this time to inaugurate uh the the clean room facility uh by month end or mid-March 28:15 28 minutes, 15 seconds is it is still anticipatory or uh we have some ribbon cutting preparation going on a clean room would be done by by end of 28:24 28 minutes, 24 seconds February or mid March March where I am the only question which we are pushing 28:30 28 minutes, 30 seconds it almost every other day with the principal secretary as well as uh uh chief secretary of state of Odisa and 28:39 28 minutes, 39 seconds they both are now in the in the position and new and they they've been working we worked with them before in the previous government as well. So they are 28:48 28 minutes, 48 seconds promising us uh because we facility is one of the flagship uh showcase for 28:56 28 minutes, 56 seconds state of as well in terms of attracting new industries. Right. 29:03 29 minutes, 3 seconds Got it. Got it. Mr. So after the clean room is ready uh how much time will it take for the epit epidexi reactors to 29:11 29 minutes, 11 seconds get installed and at least uh you know kickstart the production at least the the experimental batch. 29:19 29 minutes, 19 seconds So the the qualification period is about 60 days and then the commercial production about 30 days after that. 29:29 29 minutes, 29 seconds Okay. So let's say it's by 15th of March the cleaning room is ready. We should uh do 90 days plus 15th March uh the 29:37 29 minutes, 37 seconds experimental production should start roughly. 29:41 29 minutes, 41 seconds Yeah. The assumption is that we get the power by that time. Correct. 29:46 29 minutes, 46 seconds Right. Right. Right. Right. Right. Got it. Got it. Uh Ram G. Uh my next question is to you. Thank you Mr. Meta. Your words are always helpful. Uh Ram G. 29:55 29 minutes, 55 seconds Hey uh firstly congratulations on joining uh R power uh probably going to be long awaited but but but but uh uh uh 30:04 30 minutes, 4 seconds good so far. Rem I was wondering uh you know the top two three priorities uh I'm sure uh this one day one week period is 30:12 30 minutes, 12 seconds not enough. I I understand but sorry to be restless here but in terms of hiring in terms of you know the product road 30:20 30 minutes, 20 seconds map or in terms of even uh the shop floor reorganization uh what are the top two three priorities 30:27 30 minutes, 27 seconds you have been able to zero zero in so far for both hal and probably both for also 30:36 30 minutes, 36 seconds if you can start yeah I just now said that uh I have taken three three tasks at a time three for 30:44 30 minutes, 44 seconds internal and three for external as I said. 30:47 30 minutes, 47 seconds Okay. First was targeting the organire sales organization and reassigning the responsibility and enhancing our reach 30:56 30 minutes, 56 seconds to the customers as well as increasing the NP pipeline so that we can convert some of them some of them as our orders 31:05 31 minutes, 5 seconds and also [clears throat] identifying new applications and uh you know there are some products which we have not enhanced 31:13 31 minutes, 13 seconds to other customers. So wherever we are selling we are selling only those customers. So maybe similar kind of customers are there. So that is where 31:22 31 minutes, 22 seconds applications and okay in case if customer when we come across some new products also they will be asking so we will be in those products 31:31 31 minutes, 31 seconds and we are also looking at some new avenues where we can enhance our top and bottom line. So of course the brand 31:39 31 minutes, 39 seconds building and I also said that customer connect has to be increased. So internally as you writing uh operational 31:46 31 minutes, 46 seconds excellence is my top of my priority because you know mapping the capacity and know overcoming the bottleneck 31:55 31 minutes, 55 seconds operations and then enhance the productivity so that we are ready when we enhance our market reach if the order 32:03 32 minutes, 3 seconds starts coming a position to deliver also on time. So that is the another priority of course to get a better control over. 32:14 32 minutes, 14 seconds So I need to reook into the IT infrastructure and see what can be done. So these are 32:21 32 minutes, 21 seconds of course as I said right now I'm not focusing too much on 32:28 32 minutes, 28 seconds that because Mr. SI involved and there so and you know government 32:37 32 minutes, 37 seconds people again the contact it will take some time so I check it and then I be 32:44 32 minutes, 44 seconds keeping up keep getting the update on that and then whenever my support is required I'll be extending the same 32:54 32 minutes, 54 seconds got it got it understood um um Rami is The second question I wanted to understand is you know you have been in 33:02 33 minutes, 2 seconds the industry probably for the last uh right out of college so you have been a part of the industry if you look at our 33:09 33 minutes, 9 seconds hal business uh we have somewhere around 100 cr you know give or take uh 90 100 33:15 33 minutes, 15 seconds cr top line now let's say if I try to understand your perspective on fi 27 and fi28 33:24 33 minutes, 24 seconds you know how much we can scale this business from these current levels because I'm sure in the overall scheme of things uh the hal revenue the the 33:33 33 minutes, 33 seconds legacy revenue of our business is still very small and uh we can probably I mean under your leadership we can expect uh a 33:41 33 minutes, 41 seconds little bit faster growth in the coming times. So what is that north star which is there which you have kept for yourself that okay hello at least should 33:50 33 minutes, 50 seconds do this much for us in terms of revenue. 33:55 33 minutes, 55 seconds So definitely in the last four days of my interaction with the people and the products and then where they are selling 34:02 34 minutes, 2 seconds what they are doing I have something in my mind but I don't want to drop those numbers within three days or four days it will not be right on my part but 34:11 34 minutes, 11 seconds definitely maybe next fall I will definitely tell you what is our plan for FI 27 and FI 2018 but as you rightly 34:20 34 minutes, 20 seconds said I have I have seen that the kind of contact which I have which I work in the industry some of their industries 34:28 34 minutes, 28 seconds industry people are common for these products also so I connect with all of them to promote 34:36 34 minutes, 36 seconds these products but uh at this point of time if I have to answer your question know what is PTB 34:45 34 minutes, 45 seconds 28 it will not be right on my part understood no we will certainly wait uh 34:52 34 minutes, 52 seconds for the clear guidance to emerge Ankit I have a few suggestion uh you know if you can uh publish investor 35:00 35 minutes presentation also uh with little details about the project uh you know the timelines and since we are already 35:07 35 minutes, 7 seconds kicking 1 cr of revenue from the silicon carbide contract manufacturing thing I think that also will be helpful if that can be put there. Uh not a very lendy 35:16 35 minutes, 16 seconds slides but yes uh some some indication to investors of uh the recent updates on it. I hope uh uh that won't be a big 35:25 35 minutes, 25 seconds task. Uh I think sir, we'll take your recommendation. 35:30 35 minutes, 30 seconds Yeah, it's just to keep the investors sub rest. We are all very excited about the Udisa project Mr. Meta and uh uh that 35:38 35 minutes, 38 seconds was the purpose of this ask. Nothing nothing more than that. I will join that with you. Thanks a lot Mr. Meta. 35:45 35 minutes, 45 seconds Thanks a lot. I'll join that with you. Thank you. 35:51 35 minutes, 51 seconds Participants you may please press star and one to ask questions at this time. 35:57 35 minutes, 57 seconds The next question is from the line of Harish Shiat an individual investor. Please go ahead. Hello. 36:06 36 minutes, 6 seconds Yeah. Yes sir. Please proceed. Yes. You're audible. Yes sir. Uh good to the team. Good afternoon. 36:12 36 minutes, 12 seconds Thank you. Thank you for opportunity. Uh I'm attending this call for the first time. So pardon me if I ask some repetitive question. First is I endorse 36:21 36 minutes, 21 seconds the earlier participants uh view that we should have the presentation for the better understanding of the company. 36:28 36 minutes, 28 seconds Uh my question is about the Odisa factory. I understand that 64 crores we already spent. That's why the second uh 36:35 36 minutes, 35 seconds part of the 52 crores are in our bank. I want to understand how much of 52 crores have been actually spent for the project. 36:47 36 minutes, 47 seconds All of it what we have is because all the capex yeah the capex part the the entire I don't know the what the balance 36:54 36 minutes, 54 seconds is right now but we have we all of that funding is going into capex uh the clean room as well as uh 37:03 37 minutes, 3 seconds the advances to the customers for example second reactor we already have given the 37:10 37 minutes, 10 seconds advance the reactor should be coming in uh around March 15th as well. Uh but maybe Ankit 37:19 37 minutes, 19 seconds can give the number uh in terms of how much has been spent so far. Yeah. 37:26 37 minutes, 26 seconds Ankit. Hello. Yeah. 37:34 37 minutes, 34 seconds You able to hear me? Yeah. Yes sir. logic. 37:39 37 minutes, 39 seconds So we have uh spent roughly around 43 45 crores out of the 52 cr 37:47 37 minutes, 47 seconds and uh we have uh uh capeex plan for the balance as well. uh post which we are uh 37:57 37 minutes, 57 seconds lining up the bank debt financing uh which will contribute to this particular escrow which will be and equal 38:05 38 minutes, 5 seconds contribution will be matched by the government as well and uh with gross fund we will be able to a closure for phase one. 38:14 38 minutes, 14 seconds What is the total capex for the first phase? 38:17 38 minutes, 17 seconds Uh it is roughly around 225 crores. So half will be come from the government right 38:24 38 minutes, 24 seconds correct okay and for the second phase any line anything tied up 38:32 38 minutes, 32 seconds depends what is the amount and any any plan for that so phase phase two kept 38:40 38 minutes, 40 seconds 395 to 400 crores and that lineup will be uh we are currently in process but uh 38:47 38 minutes, 47 seconds we we'll tie up that once we have this particular bank financing done for phase one then phase two 38:57 38 minutes, 57 seconds in the meantime you know yeah in time meantime answering your question we have 39:04 39 minutes, 4 seconds been I have been looking at the equipment suppliers getting quotations and trying to finalize uh the equipments 39:12 39 minutes, 12 seconds that we will need for phase two so phase two also will be co-inanced by the government 39:20 39 minutes, 20 seconds Yes. Okay. Okay. But uh what about the power? What is the actual problem for the power over there? 39:27 39 minutes, 27 seconds So the right now there are the issue of power is I I know power quality and reliability is very important for 39:35 39 minutes, 35 seconds semiconductors because any fluctuation in the power any fluctuation in the power can result into the entire batch 39:43 39 minutes, 43 seconds being redone or restart. So state is offering us the state is offering us power from 11 KV line 39:51 39 minutes, 51 seconds and we are requesting we are requesting power from 33 KV line because the variations and the purity is much higher at from 33 KV line. 40:04 40 minutes, 4 seconds Okay. So this was not analyzed before the taking the project over there. 40:09 40 minutes, 9 seconds No, no. We already told them year and a half ago that we need one megawatt of power from from 33 KV line but 40:17 40 minutes, 17 seconds government change and the and the people changing it at their locations and so forth even though it's supposed to be single point single window clearance 40:26 40 minutes, 26 seconds uh we are you know we are struggling but we understand that we need power so we have to work with the system rather than complain about it. 40:36 40 minutes, 36 seconds soft. Okay. What is the potential revenue from the CL one production at a premium level? 40:46 40 minutes, 46 seconds I don't think you have that number. 40:53 40 minutes, 53 seconds Yeah, give me a moment. Uh maybe we'll come back to you on this particular question. 40:58 40 minutes, 58 seconds Okay, no issue. Thank you. Thank you very much. And uh I would appreciate if even if now also you can prepare one small presentation and upload on your 41:07 41 minutes, 7 seconds BAC website and your website. So that will give more visibility to the investor who want to invest into your company. And all the best to Romesh and 41:15 41 minutes, 15 seconds I hope that we lose the vehicle for our company. Thank you. Thank you very much. Thank you. Thank you. 41:23 41 minutes, 23 seconds Thank you sir. Participants please press star and want to ask questions. 41:31 41 minutes, 31 seconds The next question is from the line of Pratik Giri from Shublab Research. Please go ahead. 41:38 41 minutes, 38 seconds Yeah, thank you for the opportunity again. Ankit, I just wanted to understand uh you know about our conversation with the banks for the 41:45 41 minutes, 45 seconds debt. So I understand uh these amounts involves are little large and given our current balance sheet probably uh there 41:53 41 minutes, 53 seconds must be some negotiation and uh persuasion might be going on. I was just wondering uh how has been the conversation going on? Uh are they 42:02 42 minutes, 2 seconds asking for collateral or with Orisa government backing itself is enough for them to disperse the loan? If you can 42:09 42 minutes, 9 seconds throw some light there because I think we have been on this pursuit for the past six 7 months and uh nothing has 42:16 42 minutes, 16 seconds materialized so far. So if you can help us understand how has been the conversation on this part. 42:22 42 minutes, 22 seconds Uh sure. So basically we were in negotiations earlier with uh another 42:28 42 minutes, 28 seconds banks another banker and uh right now uh the banker we are in conversation with 42:35 42 minutes, 35 seconds or in talks with they are quite positive uh to move ahead with this particular 42:41 42 minutes, 41 seconds proposal and I uh so your point is correct. They were facing certain issues 42:47 42 minutes, 47 seconds in terms of collateral but uh internally they have uh been comfortable and they 42:55 42 minutes, 55 seconds would want to partner with us for this particular uh financing arrangement. 43:02 43 minutes, 2 seconds So we are moving on a positive direction uh currently and uh hopefully we should be done uh by first week or second week of March. 43:12 43 minutes, 12 seconds Got it. Uh I'm sorry I just forgot the amount uh we are currently uh negotiating for is it uh 75 cr or 100 cr. 43:21 43 minutes, 21 seconds Currently we are looking for uh 70 crores. Okay. 43:28 43 minutes, 28 seconds And that's all uh for phase one for correct and so basically that would be used for phase one and then equal 43:36 43 minutes, 36 seconds contribution would come from the government uh which will help us complete the phase one. 43:43 43 minutes, 43 seconds Got it. Got it. And uh how much will be the moratorium period uh to uh avoid the interest payment or we'll have to pay 43:51 43 minutes, 51 seconds interest right from day one? No. So we have uh sort of monitorium period uh but 43:57 43 minutes, 57 seconds maybe that would be uh quite a lot of intricacies and detailing. So maybe once we have approval in place and sanction letters maybe we can uh discuss that. 44:11 44 minutes, 11 seconds Understood. Understood. But you are hopeful that probably by March mid uh this also should get resolved. 44:18 44 minutes, 18 seconds Absolutely. 44:21 44 minutes, 21 seconds Got it. Got it. Got it. No, this is helpful. This is helpful. Thank you. Thank you. Thank you. Thank you. 44:30 44 minutes, 30 seconds Ladies and gentlemen, as there are no further questions, I would now like to hand the conference over to Mr. Abhishek Sant for closing comments. Thank you and over to you. 44:40 44 minutes, 40 seconds Thank you to everyone who joined us today and participated in the discussion. We appreciate your questions and continued interest in RAR Power Electronics. 44:51 44 minutes, 51 seconds As always, we remain committed to transparent communication and delivering long-term value to our stakeholders. 44:58 44 minutes, 58 seconds In closing, on behalf of the board of directors and management, we thank you all for your participation in this call. 45:06 45 minutes, 6 seconds We remain focused on operational excellence, financial prudence, and long-term valuations. 45:12 45 minutes, 12 seconds Should you have any further questions, please feel free to reach out to us. We look forward to engaging with you again in the near future. 45:21 45 minutes, 21 seconds Thank you and have a great afternoon and stay safe. Thank you. Thank you members. 45:28 45 minutes, 28 seconds Thank you all the organizers. Appreciate it. Kindly sir, ladies and gentlemen, on behalf of RIIR Power Limited and Veritas 45:37 45 minutes, 37 seconds Reputation, [clears throat] that concludes this conference. We thank you for joining us and you may now disconnect your lines. Thank you.