GKB Opthalmics- Anti dumping duty

Company Structure

FY22 AGM Notes
• 2nd Lockdown restricted plans to travel to Korea. Due to this couldn’t execute the plans.
• Said Indian economy bounce back provide good hopes. Hinted that open of optical shops provides GKB business
• Faced problem like interruption of raw materials, collapse of vendors etc. Dependence on China for raw materials till date is true. Efforts should be put to grow this in India.
• Said company sees immense potential of sales.
• Govt. imposed anti-dumping duty on plastic lenses.
• Financial performance: USA, UAE subsidiaries have done well despite pandemics. Mgmt. is focusing in operating efficiency, manufacturing costs.
• Company has established raw material supply outside china. In the past the price from europe and USA are expensive. However, GKB has stroke a negotiation with these supplier for continuous supply with a slightly higher price than China.
GKB Ophthalmics Ltd – AGM 2022 (from 19 mins onwards)
• Company said they have increased the prices of finished products due to increase of raw material prices and said that this will be reflected in sales figures starting from Q1FY23. However, the Q1FY23 revenues were similar to the quarter before. Net profit is improved.
• Mfg capacity: currently producing 18k/day–>24k/day by end of FY23–>30k/day–>40k/day.
• Forecast a revenue growth of 40crs in FY23. However it didn’t happened until Q3 of the same. FY23 shall show much better results. Korean subsidiary has become financially unviable. New expansion is being planned in the same company instead of another subsidiary.