Here is a summary of the conference call, focusing on financial performance, margin guidance, business segment performance, management guidance for the future, key risks, and industry outlook, based on the provided transcript excerpt:

PCBL Limited Q2 FY25 Earnings Conference Call Summary

Financial Performance:

• Consolidated sales volume for carbon black increased by 14% year-on-year to 148,000 tons in Q2 FY25.
• Consolidated revenue from operations increased by 45% to ₹2,163 crores, driven by better realization, higher sales volume, and revenue from the recently acquired Aquaform Chemicals.
• Consolidated EBITDA grew by about 53% year-on-year to ₹369 crores.
• EBITDA per ton in the carbon black business further increased to ₹2,324.
• Power generation increased by 25% year-on-year, with external sales volume rising from 103 million units in Q2 FY24 to 126 million units in Q2 FY25.

Margin Guidance:

• Management believes current margins are sustainable and sees potential for further improvement due to changing product mix, improving operating leverage, and ongoing efforts to enhance manufacturing efficiency and yields.
• Margins are expected to expand in a lower freight rate environment.
• Aquaform Chemicals is expected to achieve an EBITDA margin of around 25% by FY29.
• The battery chemicals business is projected to have an EBITDA margin of around 50%.

Business Segment Performance:

• The tire segment accounted for 82,83 tons of sales volume in Q2 FY25.
• The performance chemicals segment reported sales volume of 49,836 tons.
• Aquaform Chemicals reported steady performance with revenue of ₹362 crores and EBITDA of ₹50 crores in Q2 FY25.
• Aquaform’s capacity utilization remained above 75% during the quarter.

Management Guidance for the Future:

• PCBL is implementing cost optimization and operational efficiency measures at Aquaform Chemicals to improve capacity utilization and performance in the coming quarters.
• The company is undergoing an aggressive capacity expansion program in carbon black, water treatment, detergents, and oil and gas chemicals under Aquaform.
• PCBL expects to commission specialty carbon black projects in Mundra and Dhamra in Q3 FY25, with the second phase of the Tamil Nadu expansion planned for Q4 FY25.
• The company aims to reach 1 million tons of carbon black capacity by FY27-28 and is evaluating options for a proposed Greenfield capacity expansion.
• A joint venture, Nanovea Technologies Limited, has been established with EV India Private Limited to develop nano silicon products for lithium-ion battery anodes.
• PCBL plans to ramp up global sales volume from FY26 onward, with a significant focus on European markets.

Key Risks in the Business:

• Global business environment remains turbulent, with freight rate volatility and uncertain global economic conditions impacting margins.
• Aquaform Chemicals’ oil and gas chemicals business is facing headwinds due to a challenging market in the US, leading to lower capacity utilization and margin pressure.

Industry Outlook:

• The carbon black industry presents a large market opportunity, with the global market size estimated at 15 million tons and a long-term growth rate of around 3.5%.
• Demand in India is expected to increase significantly in the next five years.
• China’s carbon black industry is consolidating, and future capacity additions in China are expected to be limited.
• Russia’s carbon black exports are facing challenges due to sanctions, limiting their capacity expansion plans.
• These factors create a favorable environment for Indian manufacturers like PCBL, with significant growth opportunities in both domestic and export markets.

Disc: Invested

Q2 results came out on 29th. Decent numbers at first glance

Investor presentation
https://www.bseindia.com/xml-data/corpfiling/AttachLive/8b974ee9-a349-4a31-a824-676747e991dd.pdf

Concall held on 30th Oct
Top line guidance for current year 1250 to 1275 cr. With 580 cr done in Q1 and Q2, that leaves a run rate of 335 or 350 cr per Q, in Q3 and Q4…1250 will be a solid growth of 25%. Margin growth will be 2-3% more than the sales growth, as per guidance. With the kind of order book they have and the way, factories are utilized, this looks very much feasible. Risk is of course, a lot of dependence on exports, rather than domestic. That said, TD is in every possible sector feasible in this field and that includes sunrise sector like clean energy.

TD Power Systems Ltd Q2 FY2024-25 Earnings Conference Call

Disc…invested

Any subscription fees for Scout quest?how much subscription fees for Scout quest …who is owner of scout quest?,Thank You for sharing good information sir…

Airtel’s 5G network expansion contributed to incremental revenue from tower additions, some reduction in energy costs due to increasing adoption of solar energy in tower sites could also have helped with the margin rise. This is likely to continue.

There’s also the one time addition of 924.8 Cr (VI’s doubtful due), which has boosted margins.