Ganesh Benzoplast Q4 F24 con-call
Chemical sector for coming financial year => Strong demand in market for our product; looking at optimizing purchases and we can hope to improve performance in our chemical business
Change in management for chemical division => Ramesh Punjabi will be leading the chemical business been there with us for more than 30 years, he is Chemical Eng from IIT-B
Change in approval system for payments and communication with Banks
One of the party has already waived all its claim against the company (total 7-8 parties)
2*30tonns plant yet to get approval and we will get the same soon since the elections are now over; we will start building it after monsoon
Ramakant and Raunak resigned and their family as a whole owns only 1% of the company
Major revamping of the tank done this qtr
Kochi Terminal IOC L1 to handle ATF and Ethanol
LPG Tank expansion
Approval process should complete by July and August
Most of the design work has already been done
There will be no major milestone as such it will just take about 2 years for the whole project to complete
3 parties involved to de-risk the project
Competition coming in JNPT (Aegis) => The land that we are sitting on has very much lesser price than what new player is coming in; our assets are already built so we are naturally more competitve and our tanks can hold class A,B, and C products and hazardous and has rail movement which Aegis does not has
Througput this year was only 1404 but the revenue was still higher mainly due to better product mix
LPG Tank => Capex around INR 700Cr; EBITDA Margin around 80% and Revenue at 1 throughput to be around INR 70-80Cr and 3 throughput is normal
Chemical business at 75% utilization currently
In last 2qs there were some issues due to freight cost and Nigerian currency (20% of our deemed export is in Nigeria); this problem will get resolved in coming 2 qtrs and utilization we will achieve 90-95%
Chemical growth foracsted at 10%-15%
Update on Mangalore port => Technical issue with land allotment and bid timeline was overdue, we are working with the port authorities what can be done now about it
Liquid terminal requires regular maintenance like this qtr we did in JNPT
This year maintenance capex of around INR 20-22Cr last year it was INR 15-17Cr
Other income includes collection of warfage and rent on bhealf of JM Bakshi (hardly 4%-5% margin on this warfage collection)
Liquid terminal => 60% hazardous and 40% non-hazardous
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