Amber Enterprises(Competitor in AC segment) is also posting robust growth:
AC: sales 138% YoY, motor division: 131%
Electronic subsidiary is supplier for BoaT.
Component Ac/Non AC segment: 218% YoY
23cr forex loss, but it is MTM loss(company saying it will pass it on to client next quarter), it is not realized loss.
Aiming to be RAC/RAC component vs other business as 50-50%(currently its 70-30%)
Capex:400cr this year, 150cr more is subjective depending on customer
Next year: only R&D and maintenance capex, 150-175 cr.
net debt: 625cr
gross debt: 1300cr
It’s Sidwal subsidiary is supplier of AC components to Indian Railway and Metros which is also steady and growing arena. Sidwal estimated to grow 15-20% annually
if India reaches 10 mil annual RAC by 2025, aims to have 28-29% market share. even then No capex required for assembly part. need capex for component side.
currently 26% market share by value terms.
Personally found Amber management more responsive, open and cordial than PGEL.
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