When asked about the impact of ADD :
He was referring to the new entrants as they will face certain challenges as depreciation cost will be high which will impact their bottomline directly while the existing plant of borosil renewables is already 3-4 years old, their assets have depreciated and they have competed with China, Malaysia from last many years and dumping did not stop but chinese players always changed the origin from where they were dumping.
The company was not dependent on a duty to run its business - we should understand that on this forum. They had competed with China from 2011 till 2017 when there was no duty support - they also sold their volumes when Malaysia started dumping and there was no support until last year when cvd was imposed.
As far as duties are concerned, there is existing 10% bcd on solar glass imports from China (which is exempted till March-23). If that duty will get imposed then there are only 7 months of duty free window.
While we may have difference of opinion in valuations part, they have come a long way from being the only solar glass producer of India to be the largest non-chinese solar glass producer globally and this is not because of duties, this is because of consistent investments in R&D and cost optimisation.
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