1…EBITDA
EBITDA margin of Hindware business
A…Bahthware@16.7%
B…Plastic pipe@6.6%
C…Consumer@1.3%
Cera opm is 16%
…We can not compare opm of hindware to cera as hindware has other businesses also like plastic pipe and consumer businesses
=Bathware segments of both companies have similar OPM
2…Hindware want to leverge hindware brand for plastic pipes and consumer segments.These are high turnover/low margin business
=Many of these products are outsourced ,so they can grow into these segments by leveraging hindware brand and less capital.
3…I have done scruttlebutt for their chimney.I can definately say that hindware is among top 5 for chimney
I have also installed hindware chimney at my new home and we are happy for this product.
There is some noise but function is superior than glen chimney that i was using previously.
4…They are aggressively branding Truflow, as i had posted in my earlier posts
5…I dont know about other products performance
6…I had not found anything wrong about managent .Instead most of top positions are outsiders.They may be overoptimistic.
7…Only one thing i donot like is they have over diversified their business ,perticularly in consumer segment.(DIWORSIFICATION !! Fan, air cooler, even AC in future😀)
Rather ,they should limit consumer segment to kitchen products.
Disc…invested
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