Q1Fy23 earnings call takeaways:
- The strengthening of the USD, high freight costs along with rising raw material costs due to high crude oil prices resulted in lower margins. The company failed to pass on the inflation due to low demand.
- The pilot recycling plant that was set up for testing has received quality assurance certificates from independent parties.
- The management team doesn’t want to take up any big projects till the global environment becomes better.
- The company is looking to add Taconic polyester chips.
- In Q1Fy23 the company’s EBITDA/KG was around ₹9/KG but the management believes that the sustainable figure is between ₹13-14/KG.
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