Key highlights from Everest Kanto Cylinder Limited (EKC) Q1 FY23 Earnings Concall
- EKC said 1Q23 results were subdued due to muted demand seen in the CNG cylinder segment. However added, that govt.’s plan to establish 3,300 additional CNG stations in the next 2 years will significantly drive demand in the industry.
- EKC said its brownfield and greenfield expansion in Kandla and Mundra are progressing as expected. The second phase of the brownfield facility is expected to be operational soon, increasing the capacity by 1 lakh cylinders
- Jimesh Sanghvi of Star Union Dai-ichi asked about the demand outlook with auto sales picking up while EKC is guiding for slower 2Q23. Puneet Khurana MD said the OEMs have not given the go ahead for the schedules. Therefore the CNG sales is down at their end, which is slowing the demand.
- Jimesh Sanghvi of Star Union Dai-ichi asked about the ramping up in terms of volume and utilization, if it was down. Puneet Khurana MD stated that the volume was definitely down and the utilization was around 65%.
- Jimesh Sanghvi of Star Union enquired that with the slower demand if the company will be optimistic about the capacity addition and commissioning that’s planned. Puneet Khurana MD replied that there is no stoppage on growth of infrastructure on CNG. However, the volumes are expected to come back in future.
- Jimesh Sanghvi of Star Union asked if the company is foreseeing the CNG pump prices increasing on the ground impacting EKC on the demand side. Puneet Khurana MD answered that it’s definitely impacting the movement of CNG vehicles.
- Sunil Jain with Nirmal Bang asked if the company is thinking of bringing this composite cylinder to India as the technology it had got in US. Puneet Khurana MD clarified that the company is planning to bring it to India.
- Ayush agrawal from Mittal Analytics asked about the breakup of non-auto and auto in the CNG segment for FY22 and 1Q23. Puneet Khurana MD answered that 60% is in auto and 40% is in non-auto.
- Darshan Jhaveri of Crown Capital asked about the outlook for rest of FY23 in terms of revenue and margin. Puneet Khurana MD replied that it will be better in 3Q and 4Q as volume will bounce back.
- Tushar Sarda from Athena Investment asked about the industrial demand in 1Q23 vs. 1Q22. Puneet Khurana MD answered that 1Q23 was in line with 1Q22 demand and there was no drop in industrial sequentially.
Cochin Shipyard Limited (NSE:COCHINSHIP) Q4 FY22 Earnings Concall dated May. 26, 2022 Corporate Participants: Madhu S Nair -- Chairman & Managing Director Jose V J -- Director Finance Analysts: Vastupal Shah
Can you guess the name of the company that was listed during the IPO frenzy in 2020 and is the second largest player in the Indian municipal waste management industry?
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