Ammonia production cost as per May concall is around 460+30$=490$.
Benefit is around 110$.
Based on capacity per quarter if we take it is coming to 80crs profit on Ammonia but the interest cost is higher than this.
Ammonia price should go further high to become breakeven.
august ppt presentation 2023
I am located in the rural Bangalore, so location might be the issue as you said. However they always seem to be out of stock on whichever design I pick.
I will visit a Jockey brand outlet somewhere in Bangalore and update my feedback. Thanks for your reply.
Couple of other risks I noticed on the shareholding side-
Hi Arun,
This might be an issue in your locality where they might be downsizing due to lower store sales?
My experience of recent purchases have been seamless and I didn’t face any issues in nearby stores. Their retail network penetration across Bangalore city has improved massively. SKUs and designs are also available and infact there are many more options to pick now. Jockey is my trusted brand and I never buy inner-wear other than Jockey. Moreover, retailers do not offer any discount on Jockey, but do offer 10% or more on other brands (Rupa, Lux, etc), which speaks volumes of Jockey brand.
Page’s Management has been very honest and transparent, at times conservative in their guidance. In my view these great brands (Jockey, Speedo), good corporate governance, sales tailwinds and strong pricing power should be rewarded by market following lacklustre stock performance over almost 5 years now.
Disclosure: Invested.
I think the pvt banking players are taking a leaf out of what FMCG guys did back in the late 1990s-2000s. Back then HUL launched a program Operation Bharat in phases to increase the penetration of their products in rural India. At the time 70% of the revenues were coming from the urban areas. But rural markets were growing at thrice the speed of urban markets. Now we know how those efforts paid off for the FMCG companies. Something similar may be anticipated in the banking space also. Rapid and deep digitization could be a cause for worry. A news article I pulled from 2000 discusses the same.
Hi Guys, I am from Pune would like to catchup with you all. I have started investing since last year.
Hi thankyou for your kind words,
I am not aware of the saudi thing If you could please share some link, overall ammonia historically has traded between 400$ to 450$ this is where the equilibrium has been there. I think one big negative which the company did is contracting gas at very high price which resulted into higher breakeven.
Most of the things are still unknown, like I dont know what might be the real savings, that we would only know after stabilization and it can surprise on either sides plus it is not just the money part they explained in earlier concalls as well like now you have the raw material just beside you instead of waiting for it as to when it gets shipped.
The second lever which I am playing is on TAN realization I think this is also like at all time low, just think about this way the government to keep the supply in the country has restricted exporting and then from the other side there is continuous dumping and still their capacity utilization is 118% so the realization is artificially being kept low.
Also plz share the link on NBS subsidy cut,
There are a lot of headwinds hence I would not buy it lumpsum, I would gradually increase as I see some improvement.
The better way to look it would be from a ratio perspective, if you see the longterm has come down and short term has gone up in debt, on a gross debt to equity they are at 0.75 and on a net debt to equity they are at 0.5, this is defiantly a risk but I think for a ratio perspective it should not increase much but rather decrease + interest rates are at peak ( All this is story telling so can be horribly wrong)
my view- They company has build some really good capability and is in a very strong position but everything looks to be unfavorable now so I am taking a 1% to 2% position at PF level and as and when things start getting better I would be adding more to it, the biggest risk is that they dont blow up as long as we understand that then every fall is an opportunity, IMO they have hit the lowest in terms of PAT from here it should be increasing
waiting eagerly for concall
Tata’s are supposed to be minority friendly group and if enough noise can be raised in the media on the same, i am sure they would relent, afterall what is being asked is not really unfair!
On oneside if you see the shareholding is skewed towards large institutions
But retail shareholders absolute count has more than doubled in the last 3 years, thereby benefitting more small investors!
Stories can be formed! 
