I agree with @Srinidhi_Adiga. We are still in a wait-and-watch situation.
My brief notes from the Transcript of Management Presentation, 10-May-24.
Medium- to long-term prospects are promising:
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Carbon segment: Q2-2024, signs of market stabilization >> potential return to normalized margins in the latter half of the year.
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Announcement of a new, US green-aluminium smelter from CPC and CTP customer, Century Aluminum. First new smelter built in the US in 45 years.
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Aluminium industry contributed about 38% of consolidated revenues. Expect this to return to its normal range of 45%-50% of revenue next quarter.
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Increased import quota based on Commission for Air Quality Management (CAQM) ruling. Rain’s quota of Green Petroleum Coke (GPC) import raised from 1.4 to 1.9 million tons per annum.
But short term pain to continue:
- Foresee correction in certain key raw material prices, which will directly impact financial recovery.
- Quota implementation for GPC import at the SEZ plant is pending regulatory steps. Ramp-up expected once clarified.
I have no position in the stock at the moment. Am waiting for the results to catch up with expectations.
Am looking for holes in my understanding. So please feel free to critique. And as always, DYODR.
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