Q2 FY25 breakdown of Rossari’s segment-wise performance:

Home and Personal Care Products (HPPC)

• Revenues: This segment experienced 6% YoY growth in Q2 FY25, with revenues reaching 390 crores, up from 367 crores in the previous year.
• Challenges: This segment faced challenges related to softening prices in response to lower raw material costs and limited ethylene oxide (EO) availability and ethoxylation capacity.
• Strategies: Rosarri has prioritized sending products to the export market, where they are able to attain better pricing. They are also investing in increasing EO and ethoxylation capacity.

Key Takeaway: The HPPC segment is experiencing strong growth. However, there are some headwinds related to raw material costs and capacity constraints. Rosarri is actively taking steps to address these challenges.

Textile Specialty Chemicals

• Revenues: Revenues for this segment reached 84 crores, down from 96 crores last year. This was due to a combination of factors, including pricing pressures and geopolitical events impacting exports to Bangladesh and Egypt.
• Challenges: This segment is experiencing pricing pressure due to lower raw material costs. Additionally, exports to Bangladesh and Egypt have been negatively impacted by geopolitical issues, specifically the war in Ukraine and banking instability in Bangladesh.
• Strategies: Rosarri is focused on expanding its footprint in new geographies and adding sustainable products to its overseas offerings to grow this segment in 2025. They are also closely monitoring the situation in Bangladesh and Egypt.

Key Takeaway: The Textile Specialty Chemicals segment is facing challenges related to pricing and exports. Rosarri is working on new products and expanding its geographic reach to mitigate these challenges.

Animal Health and Nutrition (AHN)

• Revenues: This segment remained stable during the quarter, with revenues of 24 crores compared to 20 crores in the corresponding period last year.
• Challenges: Rosarri had anticipated higher growth in this segment. A revised strategy to focus more on specialty additives rather than feed components has impacted the pace of growth. Q2 is traditionally the weakest quarter for this segment due to the festive season in India.
• Strategies: Rosarri is taking steps to improve its infrastructure, including setting up a premix plant. They are also planning to launch new products in the therapeutic category and gut health improvers. They anticipate stronger growth in Q3 and Q4, which are traditionally the strongest quarters for AHN.

Key Takeaway: The AHN segment has not grown as fast as expected. Rosarri is making changes to its product strategy and anticipates stronger growth in the second half of the year.

Exports

• Overall Growth: Rosarri’s exports outperformed domestic sales in Q2 FY25, growing 21% YoY. For the first half of the year, exports grew 32% YoY, now making up 25% of overall sales.
• Geographic Focus: Key geographies for export growth include Europe, South America, Turkey, Vietnam, Egypt, North Africa, Bangladesh, Nepal, Sri Lanka, and the Philippines.
• Product Focus: Key sectors for export growth include home care, personal care, cosmetics, and agrochemicals.
• Challenges: One of the challenges the company is experiencing with its export business is related to higher freight costs, which they are not always able to pass on to customers.
• Strategies: Rosarri is working to negotiate better freight rates with existing customers and to build freight costs into pricing for new customers. They are also establishing a new trading entity in the UAE, Rosari Biotech Trading FZ, to expand their international presence and streamline export operations.

Key Takeaway: Exports represent a significant growth opportunity for Rosarri. They are experiencing success in several key markets and are taking steps to further expand their export operations and manage associated costs.

Can the op or admin change/ add Sammaan capital to the thread name please?

Kalyani Cast Tech ltd
M.cap – 338 cr

• One of the Rare SMEs where the bet is on the promoter

Promoter (Naresh Kumar)
Mr. Naresh Kumar who is the Promoter and Executive Director of the Company. Has worked in Indian Railways at lower and middle level of management for 17 years. Designed and developed special containers for logistics industry including Indian Railways. Architecture for various innovative idea in multi modal viz running of double stack container trains and double stack dwarf container trains on IR network. Implemented use of FRP (Fiber Reinforced Plastic) flooring in containers for the first time in the world which is giving enhanced life with lower tare weights of containers

Industry Overview
In FY23, railway freight volume stood at 1,109.38 MT which depicted year-on-year growth of 8%. Since August 2020, the Indian Railways has run 450 Kisan Rail services and was able to transport over 1.45 lakh tonnes of agricultural produce & perishables RailTel, a PSU under the Railway Ministry, which provides fast and free Wi-Fi across the In November 2020, India Railways announced that 40% of dedicated freight corridor (DFC) will be opened for traffic by end-FY21.
India is among the top three exporters of railways globally as of 2022. India’s export of railways has grown at a CAGR of 31.51% during 2010-18 to US$ 507.90 million. Exports of railways in 2021 stood at US$ 633.27 million. Indian Railways is developing and creating technology in areas such as signalling and telecommunication with 15,000 kms being converted into automatic signalling and 37,000 kms to be fitted with ‘KAVACH’, the domestically developed Train Collision Avoidance System.

GOVERNMENT INITIATIVES
The Government of India has adopted few initiatives for the Railways sector in the recent past, some of these are as follows: Under the Union Budget 2023-24, capital outlay of Rs. 2.40 lakh crore (US$ 29 billion) has been allocated to the Ministry of Railways, which is the highest ever outlay and about nine times the outlay made in 2013-14. Indian Railways launched a new tourism product i.e. theme based tourist circuit train – ‘Bharat Gaurav’ to showcase India’s rich cultural heritage and magnificent historical places. In the Union Budget 2022-23: The government allocated Rs. 140,367.13 crore (US$ 18.40 billion) to the Ministry of Railways.
Indian Railways will develop new products and efficient logistics services for small farmers, and small and medium enterprises. It will also take steps towards integration of postal and railway networks to provide seamless solutions for movement of parcels. 94 100 PM-Gati Shakti Cargo Terminals for multimodal logistics facilities will be developed over next three years.
Freight accounts for more than two-thirds of railway’s revenues. accounting for 75.8% of the total revenue in FY22 (until March 10, 2022), followed by the passenger segment.

From Interview
Logistics cost is 13-14% in India. Much higher than china, russia and any other developed nation rail network. Suppose a container comes to Mundra port from Canada. the cost is around 2000$ But now to move the same from Mundra to Delhi – it costs around 1500$ (Surface Cost) Reducing the cost is the theme here. Capacity of 17 TEUS a Day. i.e. around more than 4000 container manufacturing capacity.

About the Company
Originally incorporated as Privated ltd company.
ISO 001:2001:2008 certified casting unit with in-house machining facility. The company has all the equipment, testing and chemical instruments and trained/skilled manpower to meet the requirement of Class A foundry as per IS 12117:1996 (reaffirmed 2007). The company produces a wide range of castings confirming to Indian and International Standards/specifications.

The company has adopted the No-bake system of moulding and having automatic sand plant starting from knock out, screening, cooling and mixing of sand. They manufacture a wide product range of castings, including finished components and are specialists in various types of cargo containers viz ISO containers 20’, 40’ and other special containers including dwarf containers, cuboid containers, special containers for parcel cargo and containers for two & three wheelers.

The company has a diverse range of high-quality castings and specialized cargo containers. The products, include ISO containers of various sizes, dwarf containers, cuboid contaimers, and custom solutions for parcel cargo and two & three- wheelers, have been well-received in the market.

FY24 Results
Revenue at 944.77 Mn, 49.32% YoY
EBITDA at 134…87 Mn, 16.63% YoY
PAT at 95.86 Mn, 19.07% YoY

EPS Fell from 16.06 to 13.35 due to increase in number of Outstanding shares to 7.18 Mn from 5.01 Mn.