Anybody that gone through concall? It was information heavy call.
Company is heavily doing capex for growth. After HALS we have 380 cr of further capex from now to next 2 years. we already had 300 cr capex on HALS. so pretty aggressive here.
It is imp for us to see HALS start to gain traction and contribute meaningfully. next 3 Qtrs are very important for HALS. we reached to 135 tons per month from 100 ton and aspire 200 ton per month in FY25. Consolidated Margin will be under pressure until HALS picks up fully. Thats what we saw in result.
standalone wise we are doing very decent and growth is coming back but now it is time for HALS to deliver.
there are three more capex as below.
The company is on track to commercialize the production of the pharma intermediate during Q3
FY25. The capital expenditure for the same was ~₹30 crore. The total revenue potential is ~₹80-₹90
crore.
• Under performance chemicals, the company is incurring capital expenditure of ₹150 crore. The
plant is expected to commercialize in June-July 2025. The total revenue potential would be ~₹350
crore. The end user industries for these new products are polymer and pharma.
• The capital expenditure of ₹150 crore for new products under performance chemicals (water
treatment chemicals) is expected to commercialize in December 2025. The total revenue potential would be ~₹300-₹320 crore.
so apart from HALS, this 3 major growth drivers. I sometime gets very bullish on cleanscience but just need to closely watch how new products picks up the pace. overall I do feel this is giant in making. I dont see any red flag just wishing all these capex and new products gets it due.
Very bullish!!
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