Reasons for decline in numbers as per Management
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The first reason is the fall in sales realization, which has been on account of increased competition, lower raw material prices, and some dumping from Chinese manufacturers in certain segments.
We are in discussion with relevant authorities to address the issue of Chinese dumping, but that is a long-drawn process. -
Due to the preventive maintenance shutdown of the mill manufacturing high value orders thereby impacting the earnings profile for the quarter. This mill has since resumed production at the start of Q2
FY25 and normalization of dispatches is expected in the second quarter. -
The third reason was the dispatch of high value orders which were in limited quantity. As fewer high value orders were dispatched in Q1, the entire high value inventory which was purchased against
the remaining high value orders had to be marked down when raw material prices fell during the quarter.
Wasn’t there an anti-dumping duty in place till 2026, are Chinese imports still competitive despite that?
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