{"id":175790,"date":"2026-01-22T13:31:06","date_gmt":"2026-01-22T18:31:06","guid":{"rendered":"https:\/\/alphastreet.com\/india\/india-pesticides-ltd-ipl-q3-2025-earnings-call-transcript\/"},"modified":"2026-01-22T13:31:06","modified_gmt":"2026-01-22T18:31:06","slug":"india-pesticides-ltd-ipl-q3-2025-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/india-pesticides-ltd-ipl-q3-2025-earnings-call-transcript\/","title":{"rendered":"India Pesticides Ltd (IPL) Q3 2025 Earnings Call Transcript"},"content":{"rendered":"

India Pesticides Ltd (NSE: IPL) Q3 2025 Earnings Call dated Feb. 11, 2025<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Anand Swarup Agarwal<\/strong> \u2014 Director<\/em><\/p>\n

D. K. Jain<\/strong> \u2014 Chief Executive Officer<\/em><\/p>\n

S. P. Gupta<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Krushna Parekh<\/strong> \u2014 Analyst<\/em><\/p>\n

Ankit Gupta<\/strong> \u2014 Analyst<\/em><\/p>\n

Yogansh Jeswani<\/strong> \u2014 Analyst<\/em><\/p>\n

Aryan Oswal<\/strong> \u2014 Analyst<\/em><\/p>\n

Manish Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Narendra Khuthia<\/strong> \u2014 Analyst<\/em><\/p>\n

Harsh Beria<\/strong> \u2014 Analyst<\/em><\/p>\n

Raaj Macwan<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to India Pesticides Q3 FY ’25 Earnings Conference Call, hosted by Dolat Capital. 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. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchstone phone. Please note that this conference is being recorded.<\/p>\n

I now hand the conference over to Mr Krishna from Dolat Capital. Thank you, and over to you, sir.<\/p>\n

Krushna Parekh<\/strong> \u2014 Analyst<\/em><\/p>\n

Thank you, Manav. Good afternoon, everyone. On behalf of Dolat Capital, I would like to thank the management of India Pesticides for giving us the opportunity to host the Q3 FY ’25 earnings conference call. From the management team, we have with us Mr Anand Surup Agrawal, Director; Mr D.K. Jain, the Chief Executive Officer; and Mr S.P. Gupta, the Chief Financial Officer.<\/p>\n

Without further ado, I would like to hand over the call to the management for their opening remarks, post to which we will open the forum for a Q&A session. Thank you, and over to you, sir.<\/p>\n

Anand Swarup Agarwal<\/strong> \u2014 Director<\/em><\/p>\n

Thank you. Thank you,. Good afternoon. Good afternoon, ladies and gentlemen. I hope you and your family are staying safe and healthy. I take the pleasure of welcoming you all for the Q3 FY ’25 earnings conference call of India Pesticides. I hope you all had the chance to look at the financial statements and earnings presentation uploaded on the exchanges and our website.<\/p>\n

We are pleased to report revenue growth of 13% year-on-year for Q3 FY ’25, achieving a total income of INR175 crores. This growth was underpinned by an increase in volumes, which highlights the demand for our products across key markets. While the increase in volume demonstrates the strength of our operations and market presence, pricing adjustment in the international market-led to a modest impact on our margins during the quarter.<\/p>\n

Additionally, our freight costs rose due to logistically challenges in the and investment in strengthening our R&D capabilities and workforce added to the cost base. These decisions were made with a long-term view to enhance our competitiveness and support the development of a strong pipeline. We continue to drive operational efficiencies and prioritize innovation to maintain our leadership in key product categories. Our investment in R&D and talent are aligned with our vision to deliver superior products that meet evolving customer needs and align with global trends.<\/p>\n

As we grow our commitment towards blending chemicals, which can substitute and limit our independence on remains steadfast. These are also one of the many initiatives that align to the — align to the company’s vision of Make in India and workers and local to support domestic growth. We deeply appreciate the trust and unwavering support we have received some of our valued customers, dedicated employees and trusted partners and committed — committed shareholders as we embark on our journey towards the more sustainable future. We remain determined in our commitment to deliver value to each one of them.<\/p>\n

Thank you. And now I will hand over the further presentation to Mr.<\/p>\n

D. K. Jain<\/strong> \u2014 Chief Executive Officer<\/em><\/p>\n

Thank you, sir. Good afternoon, ladies and gentlemen. I take this pleasure of welcoming you all for Q3 FY ’25 earnings call of India. The agrochemical industry continues to navigate a dynamic environment with demand recovery displaying mix trends. While prices have largely stabilized, export demand remains constrained due to persistent price volatility, market oversupply and margin pressures.<\/p>\n

Despite these challenges, we have remained focused on executing our strategic roadmap to drive operational efficiencies, optimize our asset utilization and strengthen our competitive position. The Union Budget ’25-26 has introduced several initiatives that are poised to positively impact our sector. The government’s launch of the Prime Minister, Krishi aims to develop 100 agricultural districts, focusing on enhancing productivity, promoting crop diversification and improving post-harvest infrastructure.<\/p>\n

This initiative is expected to benefit approximately 1.7 crore farmers, thereby increasing the demand for advanced agrochemical solutions. Additionally, the budget on setting up a national manufacturing mission to make — to further make in India aligned with our objectives. India Pesticide continues to implement a forward-looking strategy aimed at strengthening infrastructure, enhancing workforce capabilities, diversifying our R&D initiatives and adopting advanced technologies.<\/p>\n

Over the past quarter, we have made significant progress in improving our operational framework, leading to greater efficiencies in raw-material usage and utilities. Our capacity expansion plans are on-track. This investment will boost our infrastructure, particularly at our Sandila and Hamirpur facilities where we are enhancing capacity utilization and advancing production capabilities for specialty products.<\/p>\n

Alongside capacity expansion, we are also expanding our market reach with a growing presence in dividend markets across more than 25 countries. This increased global footprint allows us to tap into newer opportunities and strengthen our positioning in key markets. As we move forward, we are committed to maintaining our growth momentum, fostering innovation and creating sustainable value for all our stakeholders. Together, we will continue to navigate challenges and seize the opportunities that lie ahead.<\/p>\n

With this, I would like to pass-on to Mr SP Gupta to walk us through our Q3 FY ’25 financial highlights, Mr Gupta.<\/p>\n

S. P. Gupta<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Thank you, sir. Good afternoon, ladies and gentlemen, and thank you for joining the India Pestide conference call to discuss Q3 FY ’25 results. Taking you through the financial highlights for the Q3 and nine months FY ’25 on quarterly performance, total revenue for Q3 FY ’25 was INR175 crores compared to INR155 crore in Q3 FY ’24, an increase of 13% Yo-by. We registered an EBITDA of INR29 crore, EBITDA margin stood at 16.7% in Q3 FY ’25.<\/p>\n

Our gross margin remained stable. However, EBITDA margin declined due to employee expenses to upgrade talent pool and R&D capability, rise in OC and freight costs and higher job work-related expenses due to increased volume. Net profit for the quarter stood at INR16 crores with PAT margin up 9.2%. On geographical split in Q3 FY ’25, our revenue from export stood at INR75 crores as compared to INR87 crore in Q3 FY ’24 and domestic revenue stood at INR97 crores as compared to INR64 crore in Q3 FY ’24.<\/p>\n

Export demand continues to be subdued due to extra supply in the market and price uncertainty. In order to counter the softer demand from export market, company had added new products for domestic market in earlier quarter to increase product basket. Overall sales volume has increased by around 30% Y-o-Y. Revenue from technical and formulation stood at INR126 crores and INR46 crores respectively.<\/p>\n

Moving on to nine months performance, total revenue for nine months FY ’25 stood at INR633 crores, an increase of 12%. EBITDA increased by 6.3% to INR101 crore with EBITDA margin at 15.9%. Export revenue was INR227 crore, while revenue from domestic market was INR394 crore. India Pestide Limited has a strong balance sheet with ability to generate good free-cash flow.<\/p>\n

With this, we would be happy to take your questions. Thank you.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much, sir. We will now begin the question-and-answer session. Anyone who wishes to ask a question may press star and one on their touchstone telephone. If you wish to withdraw yourself from the question queue, you may press star and 2. Participants are requested to use handsets while asking my question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. I repeat, if you wish to ask a question you may press star and 1. We have our first question from the line of Ankit Gupta from Bamoo Capital. Please go-ahead.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Yeah, thanks for the opportunity. Sir, my first question was on your commentary that we have seen mixed signals from the export markets. So if you can talk about how is the demand currently and you know-how is the like pricing currently in the export market, if you can talk about later.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Sir, export market demand is more or less stable. We are getting demand inquiries, but the prices are slightly subdued. That is the situation now and we are trying to increase our efficiency to meet those prices. So we feel that we should be able to take on the increased demand from exports.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

So like how much has been the price decline in this quarter, maybe on a Y-o-Y as well as on a Q-o-Q basis?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Y-o-Y, the price has declined on an average by around 15% and in last quarter, average decline was around 20%, but upper raw-material prices are also down slightly.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

So last quarter, you’re saying the prices are down 20% on a Y-o-Y basis or a QoQ basis.?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

And the 20% decline on Y-o-Y basis was in last quarter. This quarter price has declined by around 15% Y-o-Y.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay. But let’s say if the prices were X in second-quarter, how much have they become in, let’s say, say Q4 Q3? And how much is the decline? Just I’m asking quarter-on-quarter. So just to gauge if the price decline is reducing a bit or it still continues to be ferocious.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

My price decline on Q-on-Q basis is — they are stable, but Y-o-Y there has been decline.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay, okay, got it, sir. Got it. Okay. Q-o-Q, the prices have become — have stabilized now.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

It stabilized.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay. Just on a longer-term basis, if we compare the current prices with the pre-COVID prices, so if you can give an indication how has the prices behave — how are the prices currently compared to, let’s say, 2019 period for some of our key molecules like, let’s say or something we were selling at like how much — have the prices gone now below 2019 prices also for some of our products like, and all?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

The prices decline will be in the range of 15% to 20%. The raw-material price has also declined, but due to inflationary pressure, our other expenses has also increased. So net-net, maybe 5% to 6% decline will be there on EBITDA front.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

So what I’m asking is, I’m just comparing the prices because post COVID we had seen increase in the prices of technicals and then the prices have declined. So has the decline — like has the prices now reached to 2019 levels or have they gone below that? So I’m comparing the prices with — let’s say what the prices were in 2019, pre-COVID.<\/p>\n

D. K. Jain<\/strong><\/p>\n

The prices now have settled at much below the 2019 level. They have not reached the 2019 level at all. Okay. This volume in the market, not over the overall complete agrochemical industry, the prices have declined tremendously for all the major technical products.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Got it. So they are below even 2019 levels.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, yeah. They are much, much below.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay, how much will that be like…<\/p>\n

D. K. Jain<\/strong><\/p>\n

A very good year, 2019 and 2020 was very good year, but now the prices have gone down.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Can we say that they’ll be below like, 15% 20% compared to those on ’19 level or even lower?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah. In some cases, it is much lower than — even lower than 20% and the majority of them are 20% to 25%.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Sure.<\/p>\n

D. K. Jain<\/strong><\/p>\n

But in some products, the prices have gone down more than 50%.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

50% compared to 2019 levels.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes, yes, yes, yes. In some of the products. Well, we are not dealing in those products, of course, luckily but there are products where the prices have gone down tremendously.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay. Okay. And sir, you know on the demand-side, since you’re saying demand is stable, so should we expect some you know like revival in prices or you feel the prices are expected to remain under pressure in next you know, next few quarters as well.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Demand will — I think demand is improving. We also see that in our results also, our volumes have gone up almost 25% to 30%, whereas the prices have gone down, hence the — there is a decline in the margin, the revenue, revenue has not increased so much. So the prices are low and I hope that I feel that they will be around these levels only.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Sure. Sure. Sir, what is your outlook for next year? How much growth can we see in revenues and like any views on how the EBITDA margins will now behave for the company because you know the margins have reduced for us significantly over the past two years.<\/p>\n

D. K. Jain<\/strong><\/p>\n

We feel that our EBITDA margins should remain between 16% to 18%, that’s what we are targeting to maintain. And revenues, we feel that we should be able to grow between 15% to 20%.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Sure, sure. Okay. And because the new capacities will also come in both the plants next year?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

When are they expected to complete for both our plants?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes, could you please repeat?<\/p>\n

Ankit Gupta<\/strong><\/p>\n

When are the capex is for the — both our plants expected to get completed and start generating revenues.<\/p>\n

D. K. Jain<\/strong><\/p>\n

So we — our capex is going on-track. We feel that this year, our investment in Hamirpur plant should start giving us some results. And from next year onwards, it will give full results. So we will be building there in. So we are now doing capex on annual basis around INR50 crores in our Hamirpur side. So we will be keeping on getting the revenue generated every year that will be increasing.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Sure. Okay. So Hamirpur will start contributing from FY ’26 is what you were saying and in a big way in FY ’27 or…<\/p>\n

D. K. Jain<\/strong><\/p>\n

FY ’26 onwards.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay. Okay. Okay. And like when is that expected to complete to make.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, Chandelite is more or less now getting calculated now, right? Maybe there will be some increase — will be there because we are changing the product mix slightly to get better capacity utilization. So that way we would be getting relatively slightly better revenues.<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Okay. Okay. Thank you and wish you all the best sir. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all participants, if you wish to ask a question, you may press star and one on your touchstone telephone. I repeat, you may press star and one if you wish to ask a question. We have our next question from the line of Yoganj Jeswani from Mittal Analytics. Please go-ahead.<\/p>\n

Yogansh Jeswani<\/strong><\/p>\n

Hi, sir. Thanks for the opportunity. Sir, after several quarters, our gross margin improved and like Gupta jee mentioned in opening remarks that the EBITDA margins are impacted by some higher other expenses. So can you quickly help highlight what were those expenses? I think how much was job work expense and how much was, if you could give that breakup?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Guys see job work expenses increased by around INR3 crore during this quarter. Last year — last year it was INR3 crores. This quarter in Q3, it was INR6 crores. And OCM and has increased by about — by INR1 crores. Main increase is also in our implied — implied benefit expenses since we have recruited R&D new R&D personnel and production — senior production people.<\/p>\n

Yogansh Jeswani<\/strong><\/p>\n

Okay. And sir, you also mentioned that we are seeing 15% to 18% kind of EBITDA margin as sustainable. So this guidance is for this coming few quarters or this you are saying for a longer-term basis because earlier we used to do 25% plus margins very easily. So has something changed drastically for us and our product basket?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Actually the export market is still not recovered as far as pricing is concerned because of excess supply from some countries. So we are getting impacted on export sales front on — and domestic market demand is good, but because of supply from other countries, pricing has not increased.<\/p>\n

Yogansh Jeswani<\/strong><\/p>\n

Got it. And sir, what was the capacity utilization for the Sandila plant.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

In nine months, it will be around 60%.<\/p>\n

Yogansh Jeswani<\/strong><\/p>\n

Okay. And sir, if is it possible, can you share what would be the inventory number for December closing?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Inventory number of days is slightly higher. They will be around 170 days. Since we have started building up one of the herbicide to be sold-in next Kharif’s region. Actually the one of the largest selling rice herbicide, the season is very small four to five months and demand is very good. So we have started building up inventory for that product from August onwards. So the inventory day has slightly moved ahead and we think they will rationalize in Q4 and Q1 of next year.<\/p>\n

Yogansh Jeswani<\/strong><\/p>\n

Got it, sir. Thank you, sir. I’ll get back-in the queue.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all participants, you may press star and want to ask a question. The next question is from the line of Arian Oswal from Pinterest Capital. Please go-ahead.<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Yeah. Hi, hello. Audible?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Hello, sir.<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Yes, sir, am I audible?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, yeah.<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Yes, sir. So sir, I just have a couple of questions. My first question is on the line of revenue from our top-10 customers. Sir, if we see the revenues from our top-10 customers, it has consistently declined from FY ’23 from 61% to 42%. So what would you like to say on that?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Actually, our product mix has changed. Earlier the company was manufacturing a two group of products only. Now the product basket has increased and we are planning to sell new products to new customers.<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Okay. So sir, the — so does this mean that the top-10 customers would now change as we are adding new customers and the revenue from those customers will be slightly higher in the coming years.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

See the revenue from top customer will be in that range only since our MNC customer, they are buying more. So there may be some chances of upward increase, but now the product basket has slightly changed in last three years. So it will not reach to earlier level.<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Okay, sir. Got it, got it. And sir, one more question on the side of cash conversion cycle, if we see our cash conversion cycle has consistently increased from March 2021 till now. So what would be your comment on that from — like it has increased from 116 to 238, so what would be your comment on…<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Our March 20 exceptional year, we have sold entire near to entire inventory. Now our MNC customer, they are not keeping stock with themselves. They are giving orders now for only one month-in advance. Earlier, they used to give orders in three to six months in advance with good planning. Now they don’t want to keep inventory at their locations. So we have to keep high inventory to supply them for their seasonal demand.<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Okay. So here on the cash conversion side, sir, will we see the numbers remain, the 238 days number. Will we see this stagnant or can we see a decline in that?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

It will decline by-20 to 25 days from March quarter onwards?<\/p>\n

Aryan Oswal<\/strong><\/p>\n

Okay, got it, got it. Thank you so much, sir. That’s all from my side.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have our next question from the line of Manish Shah from Capital. Please go-ahead.<\/p>\n

Manish Shah<\/strong><\/p>\n

Thank you for the opportunity, sir. Sir, my question was regarding the pricing. Sir, you are a veteran in this industry and you know that the main person — main country which is supplying in the global markets is China. So you might be knowing what the cost structure and other things. And if our inflation is going up, their inflation also might be going up. So what do you think about the pricing or other things which may impact the pricing in the future.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Sir, the, the situation in China and India is slightly different in the sense that China — they build very huge capacities, number-one. Number two, they get good incentive from the government, I think 9% and 13% on some products, they get incentive from the government. So in the international market, they are slightly more competitive from that point-of-view. But we are working on increasing our efficiencies and trying to meet those prices. So we have done a lot of work-in the last one year and we have optimized many of our processes to combat these effect.<\/p>\n

Manish Shah<\/strong><\/p>\n

And sir, my another question was, sir, the other expenses from INR35 crores, they have gone to INR49 crores. And our turnover has increased by 13% and the other — other expenses have increased by more than 40%. So you told that the INR3 crores is because of job work and INR1 crore is because of ocean freight. What is the other — because the employee cost will — because the employee and R&D expenses will come in the employee cost. I’m talking about the other expenses, sir.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Actually our volumes has also increased by 30%. So the — our power cost and repair cost has also increased. Yes, our price has declined, so you are seeing that the growth is on because of volume also.<\/p>\n

Manish Shah<\/strong><\/p>\n

Right.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

Revenues have increased or not too much.<\/p>\n

Manish Shah<\/strong><\/p>\n

Right. So the pricing, what do you think in the next two or four quarters? Do you think — in the next one year or two years, do you think the pricing will stay here or it will still come by — still go down or what?<\/p>\n

D. K. Jain<\/strong><\/p>\n

And we feel that it should stay now. I think more or less they are stabilized now. So we don’t see any major trend there has been a sufficient already decline in the prices for all the products.<\/p>\n

Manish Shah<\/strong><\/p>\n

But some media reports were telling that a lot of Chinese companies are on the verge of closing down because the prices have plummeted so much. So is it right or I think they are easily…<\/p>\n

D. K. Jain<\/strong><\/p>\n

You are right. You are right because some of the prices have gone down more than 60% 70%, 80%. The products which were available at around $80 to $100 per kg now they are available in the market at around $20 per KG. So how long they can lose that money, I think some units will really get closed. That’s what we feel. Yeah, yeah, continue.<\/p>\n

Manish Shah<\/strong><\/p>\n

Are they losing money, sir?<\/p>\n

D. K. Jain<\/strong><\/p>\n

No, we are not losing money because…<\/p>\n

Manish Shah<\/strong><\/p>\n

Are they losing money?<\/p>\n

D. K. Jain<\/strong><\/p>\n

That’s what we feel so how can there be so much of decline in the raw-material cost, right, almost 25% of the original cost. So we feel that cannot be sustainable. That’s what they have built very large capacities in some of the products. So the prices should get rationalized. That’s what we feel.<\/p>\n

Manish Shah<\/strong><\/p>\n

And sir, what is the overlapping with China in our products, sir?<\/p>\n

D. K. Jain<\/strong><\/p>\n

In our products, China, in two, three products, they are there, but not very aggressive. So we are able to maintain relatively better prices when compared to other products.<\/p>\n

Manish Shah<\/strong><\/p>\n

Sir, my basic question was that our revenue — our volumes have been increasing by 30% and that is a very good news because other countries barring China, they are not reporting such good volumes. So, but I think the main issue is with the pricing because the EBITDA margins have reduced from — from 2021 today, if you see it has like crashed like 50% 60%. So it is — is it — it will still go down or maybe in the next four quarters to eight quarters, maybe slowly, slowly, it may — it may not go to that level of 2021, but at least there should be some bottoming out, do you think or it will still go down in the next one year?<\/p>\n

D. K. Jain<\/strong><\/p>\n

So I think we are now — it is more or less, it should remain stable in this range. That’s what we feel 16% to 18% we are targeting for the coming few quarters. Later on because the market scenario did not know, it is really dynamic nowadays, but we feel for the coming at least two, 3\/4, we should be able to maintain the EBITDA margins between 15% to 18%.<\/p>\n

Manish Shah<\/strong><\/p>\n

And sir, our domestic capex, whatever the — sorry, whatever the capex which we are doing, we have — have we stopped or we are going with the older plant?<\/p>\n

D. K. Jain<\/strong><\/p>\n

So we — our domestic market, especially in technical B2C, B2B sales, they are quite good. We have — because some of the products are what we are producing now are domestic oriented. So we are getting good domestic demand for those products.<\/p>\n

Manish Shah<\/strong><\/p>\n

No, I’m talking about the capex, sir, capex.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Capex is going on, sir. CapEx is on-track.<\/p>\n

Manish Shah<\/strong><\/p>\n

Because in the last con-call you had told that at the current capacity you should be able to do somewhere about INR1,100 crores. So if the increased capacity comes in and are you sure that we will be able to do that?<\/p>\n

D. K. Jain<\/strong><\/p>\n

INR1,100 crores, I don’t think we have told INR1,100 crores, sir.<\/p>\n

Manish Shah<\/strong><\/p>\n

No, at the current — at the current capacity, you told that you’ll be able to do INR1,100 crores in the future. I’m not talking about it this year.<\/p>\n

D. K. Jain<\/strong><\/p>\n

In the future? Yes, sir. But now as on today, no.<\/p>\n

Manish Shah<\/strong><\/p>\n

No, no, not — I’m not talking about it today, sir. I’m talking about the future that you had told that at the current capacity, you should be able to somewhere about INR1,100 crores of the top-line.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes, yes. Actually, our current capacity utilization is around 60% and demand improves, we can easily go to 85% if good demand comes from international market. So do we have capability to achieve INR1,100 crores from existing infrastructure.<\/p>\n

Manish Shah<\/strong><\/p>\n

And one thing which I have noticed, sir, in the domestic market, I think you have done quite okay. I think. Only the problem is with the international market, right, if I’m not wrong?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes, domestic market is volume growth is better than in your export market.<\/p>\n

Manish Shah<\/strong><\/p>\n

Okay, sir. Thank you so much for answering all the questions for the next.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all participants, you may press star and want to ask a question. The next question is from the line of Narendh from RoboCapital. Please go-ahead.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Hi, sir ahead mister, hello Amal hi, hello, hello. Am I audible?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Can you speak or?<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Yeah. So my question is regarding the capex, right? So…<\/p>\n

Operator<\/strong><\/p>\n

Sorry to interrupt Mr, we are unable to hear you. Your voice is quite breaking.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Is it better now?<\/p>\n

Operator<\/strong><\/p>\n

Yeah.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Yeah. So my question is regarding the capex, sir. So how many blocks are we planning to put up in a Hamilpur facility and how many of those are coming up in FY ’26.<\/p>\n

D. K. Jain<\/strong><\/p>\n

In the long-term we would be building at least 10 to 12 blocks. So two blocks we have planned to build this year in FY ’26.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Okay, sir. So the 15 to 20<\/p>\n

D. K. Jain<\/strong><\/p>\n

Your voice is breaking. We are not able to hear you properly.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Yeah. Is it better now, sir?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes. Yeah, now it is better.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Yeah. So I was saying that the 15% 20% growth that we are expecting next year. So is it including the capex or the capex would be over and above that, sir.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

So we are expecting to grow from around 10% from our existing operations and at least 10% incremental cost from capex what we are investing right now.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Okay, okay, sir. Okay. So each block would be around INR70 crores of revenue, right, if I’m not wrong from — if we are planning to add INR10 crores<\/p>\n

S. P. Gupta<\/strong><\/p>\n

INR60 to INR70 crores. Yes, sir.<\/p>\n

Narendra Khuthia<\/strong><\/p>\n

Okay. Okay, great, sir. Thank you so much and all the best, yeah.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all participants, you may press star and want to ask a question. We have our next question from the line of Harsh Beria from an individual Investor. Please go-ahead.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Hello, sir, my first question is on our domestic market. What are the kind of products we have introduced in the market? Are these technicals or intermediates? And what is the realization of these products?<\/p>\n

D. K. Jain<\/strong><\/p>\n

In the domestic market, we are working on some few fungicides and some herbicides. And we are very well-placed in there. Our market, our market is almost more than 75% in one-product and in another product, it would be when it is in-full capacity, it will be almost 50%. And we are getting a reasonably good revenue from these products. In one of the products, it is slightly tight, but we are working on the efficiencies, try to improve their improve it further.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Sir, what are the kind of realizations per kg that we are making on these products?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Okay. Realization with the selling price is around INR400 per kg around that level.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Got it, sir. Sir, my second question, like if you remember a year back or something, we were planning to supply intermediates to Japanese companies. Any development on that?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, I think it is continuing, sir. We already have signed a three-year contract with them and our next supplies would be in I think by March-end or April second week.<\/p>\n

Harsh Beria<\/strong><\/p>\n

So what is the scale of operation that we are doing there?<\/p>\n

D. K. Jain<\/strong><\/p>\n

And no, this is an intermediate required for some pharma product, I think.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Got it, sir. And sir, my last question is, I think we were planning to get into formulation business both in India and internationally, sir. So formulations we have done well in India, like globally, what is our plan? Are we going ahead with our formalysian division for global markets?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah. Sir, India Global — India we are already doing. We are trying to grow that and international market, we presently what we do that we are selling in bulk the formulated product to our customers who want us to formulate for them. So that bulk formulations we are doing for some of our customers. We want to expand our business two formulations in international market also ourselves. For that we are trying to register few products in some countries so that registration work is going on.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Yeah, got it, sir. And finally, around the new capacities that will be coming in the subsequent years, sir, what are the kind of products we’ll be selling there? Will they be existing products or new products. Can you give some color around that?<\/p>\n

D. K. Jain<\/strong><\/p>\n

No, the ourpur side, we will be adding new products only. We will not repeat the product what we are manufacturing already in our existing site at Sandila.<\/p>\n

Harsh Beria<\/strong><\/p>\n

So therefore new products.<\/p>\n

D. K. Jain<\/strong><\/p>\n

There will be new products and new intermediates.<\/p>\n

Harsh Beria<\/strong><\/p>\n

And sir for these new products are — do we already have registrations or is it in-process?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, registration work is apparently going on, sir and we have already received a few registrations from Central Insecticide board. So we have already started working on those products only.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Got it, sir. And sir, for domestic market, do we also have some 93 products in pipeline?<\/p>\n

D. K. Jain<\/strong><\/p>\n

93 power is also 9% import you mean to say?<\/p>\n

Harsh Beria<\/strong><\/p>\n

Yes.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, import products, normally we are working on one-product, but it will take quite long-time, sir, because it is a very long process. But for export also, we get line three registrations. So that we are getting for the molecules which are export-oriented?<\/p>\n

Harsh Beria<\/strong><\/p>\n

Got it, sir. So and sir, one final question, sir, in a working capital cycle, what kind of working capital do we work with in the domestic market versus for exports?.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Working capital cycle in domestic market is slightly higher data than our export. Currently our working capital cycle is slightly on higher side because of higher inventory.<\/p>\n

Harsh Beria<\/strong><\/p>\n

This is for the herbicide product, right, which you were talking about earlier.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah, yeah.<\/p>\n

Harsh Beria<\/strong><\/p>\n

Got it, sir. No, sir, thanks for taking all my questions. Thank you.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Thank you. Thank you very much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have our next question from the line of Manish Shah from Capital. Please go-ahead.<\/p>\n

Manish Shah<\/strong><\/p>\n

Yeah. Thank you for the opportunity, sir. Sir, all our capex is from the internal or<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes, yes, we have not taken any term-loan tiller right now.<\/p>\n

Manish Shah<\/strong><\/p>\n

So in the future also, all our expansion will be from the internal accruals itself.<\/p>\n

D. K. Jain<\/strong><\/p>\n

More or less.<\/p>\n

S. P. Gupta<\/strong><\/p>\n

More or less it will be from internal accrual. For our 100% subsidiary, we may take nominal — some debt in future years.<\/p>\n

Manish Shah<\/strong><\/p>\n

And sir, what is our exports to the US market, sir?<\/p>\n

Ankit Gupta<\/strong><\/p>\n

Exports to US market had grown, but it will be around say 15% of our export turnover.<\/p>\n

Manish Shah<\/strong><\/p>\n

Okay. So what it should be INR45 crore INR50 crores?<\/p>\n

S. P. Gupta<\/strong><\/p>\n

INR50 crore, around INR50 crores.<\/p>\n

Manish Shah<\/strong><\/p>\n

Our major export market is the Europe or<\/p>\n

S. P. Gupta<\/strong><\/p>\n

It is in Europe only.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Europe and Australia.<\/p>\n

Manish Shah<\/strong><\/p>\n

Europe and Australia.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes.<\/p>\n

Manish Shah<\/strong><\/p>\n

Okay, sir. Yeah, sir. Sir, I think in the last some commentary from the other agro agrochem players in the global market they were t they were telling that slowly, slowly sanity is coming back, but in the last 2, 3 weeks once again after this tariff war and all that. Once again I think the there is no confidence in the pricing. Is it right?<\/p>\n

D. K. Jain<\/strong><\/p>\n

That is true, sir, because of the present situation of the threats received from US president about the tariffs. So the whole situation is slightly getting complicated and people are not very, very, very clear how the situation is going to be. But we feel that for India he should not impose lot of tariffs. That’s what we feel. Our prime minister is already now on the US trip, so we feel positive results will come.<\/p>\n

Manish Shah<\/strong><\/p>\n

Sir, but are we still — because our volume growth is 30%, so I think one — that is one big plus point. Are you confident of that 15% to 20% revenue growth possible or next year.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Because our volumes are also increasing and we are adding new products also. So we feel confident that 15% to 20% growth should be there.<\/p>\n

Manish Shah<\/strong><\/p>\n

On the revenue, sir.<\/p>\n

D. K. Jain<\/strong><\/p>\n

On revenue side, yes.<\/p>\n

Manish Shah<\/strong><\/p>\n

Sir, any new products or any new things in the strategically any new products or any new initiatives for the domestic or international markets?<\/p>\n

D. K. Jain<\/strong><\/p>\n

So we are already working on that, sir. We are — the capex what we are doing now is for the new molecules only and they should start giving us results in FY ’26.<\/p>\n

Manish Shah<\/strong><\/p>\n

Because, sir, you had in the earlier presentation and when the IPO has come, you had told that you only do the steel expression and there is a sure short supply agreement.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah.<\/p>\n

Manish Shah<\/strong><\/p>\n

So that’s still…<\/p>\n

D. K. Jain<\/strong><\/p>\n

What is happening now because of the so much volatility in the market, the big companies, they also don’t want to commit for long period. So they also want a very short period commitment they give now as Mr Gupta has already told, they are giving orders only for one or two months period rather than giving a forecast for six to 12 months. And a one-weight is good because the prices are changing many times very violently. So it could be harmful for them or harmful to us also. So in the interest of both these — both of the seller and buyer, it is better to have a short-term agreements rather than long-term arrangements.<\/p>\n

Manish Shah<\/strong><\/p>\n

Sir, another question was…<\/p>\n

Operator<\/strong><\/p>\n

Sorry to interrupt from this queue.<\/p>\n

Manish Shah<\/strong><\/p>\n

Sir, this is my last question. I was just asking about — I was just asking about the raw-material. In the last presentation, you had told that 69% of the raw-material is sourced locally.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yeah.<\/p>\n

Manish Shah<\/strong><\/p>\n

So-so that percentage should go up in the future, or…<\/p>\n

D. K. Jain<\/strong><\/p>\n

It will be more or less same. We it will be more or less in the same, same range because we are trying to integrate backwards as much as possible because we are — we believe that if we have to compete, we have to be made in India first, then only in the long-term we will be sustainable. So we are backward integrating most of our products.<\/p>\n

Manish Shah<\/strong><\/p>\n

Thank you so much for answering all the questions. Best of luck. Thank you, sir.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Thank you. Thank you so much. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have our next question from the line of Raj from Arja Partners. Please go-ahead.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

Sir, am I audible?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Yes.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

Yes, sir. Sir, how much was the inventory loss for quarter three FY ’25?<\/p>\n

D. K. Jain<\/strong><\/p>\n

No, we are now not suffering any inventories are loss right now.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

All right. Since you said your inventory days are around 170 days or so, I was guessing there would be some inventory losses.<\/p>\n

D. K. Jain<\/strong><\/p>\n

No, no, we have told you one of the largest selling herbicide, which is sold between say first-quarter and second-quarter of any year during season. So we are building up inventory for that product since last four months. So inventory day has gone up and now we have started getting good order for that product and we are supplying in this Q4.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

Understood. So is there any inventory loss for nine months FY ’25?<\/p>\n

D. K. Jain<\/strong><\/p>\n

The inventory loss was there in last year. During current year, now the price, they are stable since last many quarters. So we are not suffering inventory losses.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

Understood, sir. Sir, for the Hamirpur plant, I just kept a point on the new products. So the new products would have a selling price of around INR400 per kgs, right?<\/p>\n

D. K. Jain<\/strong><\/p>\n

The INR400 per kg price is generally for the products what we are manufacturing at our Chandila unit. At side, the prices would be slightly different because that price, the product what we are targeting at would be around INR1,200 to INR1,300 a kg.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

All right. And how much would be our gross profit on those products?<\/p>\n

D. K. Jain<\/strong><\/p>\n

That is very difficult to tell at present, because again the prices will keep on fluctuating but it should be in our percent range only.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

All right, sir. And sir, how much sales are we expecting from Hamidpur side? For example, you are doing a INR50 crore capex for one block, right? So what would be the asset turn-on that block?<\/p>\n

D. K. Jain<\/strong><\/p>\n

Initially the asset turn would be slightly less because initially we have to spend lot of money on infrastructure because it is a greenfield plant. So a lot of investment is going on the basic infrastructure like the roads, building, the boiler, the utility services, fire fighting system, laboratory, etc. So the first block, the asset turn will be less. I think it should be around one. But from the second block onward, it will improve because infrastructure is in-place, then the asset turn will keep on increasing.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

Okay. And sir, what products are we exactly going to launch? Can you name some of them?<\/p>\n

D. K. Jain<\/strong><\/p>\n

It will be one intermediate and it will be one insecticide and one herbicide block is under-construction.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

Alright, so when you say one intermediate, what exactly is that intermediate for? Can you name the product?<\/p>\n

D. K. Jain<\/strong><\/p>\n

That would be difficult too for me to name them.<\/p>\n

Raaj Macwan<\/strong><\/p>\n

All right all right, sir. Thank you. All the best.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Thank you. Thank you, sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you so much. Thank you. Ladies and gentlemen, that would be the last question for today. And I now hand the conference over to the management for closing comments. Over to you, sir.<\/p>\n

D. K. Jain<\/strong><\/p>\n

Thank you. Thank you very much for your participation and sparing your valuable time. For any further queries or clarifications, please do get-in touch with our Investor Relations team. We would be happy to answer all of your questions. Thank you so much. And have a good day.<\/p>\n

Operator<\/strong><\/p>\n

Thank you, sir. On behalf of Dolat Capital, that concludes this conference. Thank you for joining us and you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

India Pesticides Ltd (NSE: IPL) Q3 2025 Earnings Call dated Feb. 11, 2025 Corporate Participants: Anand Swarup Agarwal \u2014 Director D. K. Jain \u2014 Chief Executive Officer S. P. Gupta \u2014 Chief Financial Officer Analysts: Krushna Parekh \u2014 Analyst Ankit Gupta \u2014 Analyst Yogansh Jeswani \u2014 Analyst Aryan Oswal \u2014 Analyst Manish Shah \u2014 Analyst […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-175790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":109778,"url":"https:\/\/alphastreet.com\/india\/infosys-limited-infy-q4-2021-earnings-call\/","url_meta":{"origin":175790,"position":0},"title":"Infosys Limited (INFY) Q4 2021 Earnings Call","author":"Sahil Anand","date":"April 21, 2021","format":false,"excerpt":"Infosys Limited (NYSE: INFY) Q4 2021 earnings call dated\u00a0Apr. 14, 2021 Corporate Participants: Sandeep Mahindroo\u00a0\u2014\u00a0Vice President, Financial Controller & Head \u2013 Investor Relations Salil Parekh\u00a0\u2014\u00a0Chief Executive Officer and Managing Director Pravin Rao\u00a0\u2014\u00a0Chief Operating Officer and Whole-time Director Nilanjan Roy\u00a0\u2014\u00a0Chief Financial Officer Analysts: Ankur Rudra\u00a0\u2014\u00a0JPMorgan \u2014 Analyst Diviya Nagarajan\u00a0\u2014\u00a0UBS \u2014 Analyst\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/04\/Infosys-Limited-Q4-2021-Earnings-Call.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":140320,"url":"https:\/\/alphastreet.com\/india\/india-pesticides-ltd-ipl-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":175790,"position":1},"title":"India Pesticides Ltd (IPL) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 7, 2023","format":false,"excerpt":"India Pesticides Ltd (NSE:IPL) Q3 FY23 Earnings Concall dated Feb. 06, 2023. 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Ramesh Swaminathan -- Executive Director, Global CFO A lot of LUPIN\u2019s biosimilars is under partner programs. The risk of\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":130739,"url":"https:\/\/alphastreet.com\/india\/zee-entertainment-enterprises-limited-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":175790,"position":3},"title":"Zee Entertainment Enterprises Limited Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"June 21, 2022","format":false,"excerpt":"https:\/\/youtu.be\/o4itPXV5uDc Key highlights from Zee Entertainment Enterprises Limited (ZEEL) Q4 FY22 Earnings Concall \u00a0\u00a0 Q&A Highlights: Vivek Subbaraman - Ambit Capital - Analyst Does the current balance sheet allow ZEEL to bid for IPL at all? Punit Goenka - Managing Director and Chief Executive Officer It does, ZEEL can participate\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":41715,"url":"https:\/\/alphastreet.com\/india\/wipro-limited-wit-q2-2020-earnings-snapshot\/","url_meta":{"origin":175790,"position":4},"title":"Wipro Limited (WIT): Q2 2020 Earnings Snapshot","author":"Toby","date":"October 15, 2019","format":false,"excerpt":"-- Wipro Limited (NYSE: WIT) reported second-quarter 2020 earnings of $0.06 per share, in line with Wall Street projection -- Revenues grew 4% to $2.14 billion, vs. $2.13 billion expected. -- In Q2, IT Services revenue grew 2.5% to $2.05 billion. -- Wipro expects IT Services revenue to be $2.065\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"Earnings Update by AlphaStreet","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-Coverage-5.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":142292,"url":"https:\/\/alphastreet.com\/india\/kpr-mill-ltd-kprmill-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":175790,"position":5},"title":"KPR MILL LTD (KPRMILL) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 21, 2023","format":false,"excerpt":"KPR MILL LTD (NSE:KPRMILL) Q3 FY23 Earnings Concall dated Feb. 7, 2023. Corporate Participants: P L Murugappan\u00a0--\u00a0Chief Financial Officer Analysts: Abhishek Nigam\u00a0--\u00a0B&K SECURITIES -- Analyst Kapil Jagasia\u00a0--\u00a0Nuvama -- Analyst Muthu Kumar\u00a0--\u00a0Fidelity Ventures -- Analyst Unidentified Participant\u00a0--\u00a0-- Analyst Presentation: Operator Ladies and gentlemen, good day and welcome to the KPR Mill\u2026","rel":"","context":"In "Consumer"","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/175790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=175790"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/175790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=175790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=175790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=175790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}