22nd Mar23 –Rajratan Global Wires–CNBC Interview :
–Customers are telling us that growth will be more than GDP growth in India. Also forcasting growth in export of tyres so overall 65k tons tyre mkt is to grow to 1.65Cr mkt by 2030 so if we factor all these no.s we are looking at growth of 10% in Indian demand for bead-wire next yr.
–Special sectors like commercial tyres we are witnessing good growth and in PV sector also its good growth but 2W which is rural economy based demand is not doing well
–Volume growth for FY24 –10/15% in India i.e currently we are close to 59/60k tons which will grow to 65/68k tons in India and Thailand was more of a problem last year as Thai tyre cos are there to export to europe and USA and it was low traction there due to geo-politics / freight rates had gone high / demand destruction in US and Europe and people had high inventory –now this has normalised.
–Looking at current indications from cust in Thailand and exports from Thailand we are projecting 30/35% growth in Volume in Thailand
–Blended it will be 20% growth for FY24
–Margins will be retained at 18/20%–Projections are based on this. Tgting bigger mkt share which will not be possible with a high margin as we are in a competitive industry
–Promoters are buying Equity and we are only in one Biz and dont want to divert our focus from this so whatever we have we investing back in this co.
–Solar Roof top project —Installed in Thailand and in Chennai also , its not a big saving but little savings in the power cost but the bottom line wont make much difference but we will continue to work on it.
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