Requesting senior boarders to help me understand what is Management trying to explain here as reason for degrowth and how/why didn’t it impact other peers?

I was reading into this space of batteries for some time now.

My thought was why India and not China?
I can affirm and be 60% positive that – it will be India due to the policy that US had stepped in which is (IRA)
The Inflation Reduction Act specifies that, starting in 2024, no EV that contains battery components produced by a foreign entity of concern18—defined as China, Russia, Iran, and North Korea—will be eligible for the credit. Beginning in 2025, the same becomes true for critical minerals used in EV batteries.

Now how did I confirm this? AMI Concall
:

Here is as per the application wise :

1. Key Ingredient – Tata Chemical (Soda Ash)
2. HSCL : Lithium Ion Battery components
3. Electrolyte Salts – GFL, Neogen, Tatva Chintan
4. Electrolyte Additive – AMI Organics, Aether Industries
5. Solvent/Catalysis Profile : Tatva Chintan, Balaji Amines

Electrolyte Additive types

1. Vinyl Carbonate (VC)
2. Fluorinated Ethylene Carbonate (FEC)
3. 1,3-Propanesultone (1,3-PS)
4. Vinylethylene Carbonate (VEC)
5. Others

Solvents

1. Ethylene Carbonate (EC): It’s commonly used as a solvent for the electrolyte in lithium-ion batteries due to its high dielectric constant and ability to dissolve lithium salts.
2. Dimethyl Carbonate (DMC): Often used as a co-solvent in combination with other solvents like EC due to its good solubility with lithium salts. (Balaji Amines, Tatva Chintan)
3. Diethyl Carbonate (DEC): Another solvent used in combination with EC and DMC in the electrolyte of lithium-ion batteries. (Tatva Chintan)
4. Ethyl Methyl Carbonate (EMC): Similar to DEC, EMC is used as a co-solvent to improve the electrolyte’s properties.
5. Propylene Carbonate (PC): It’s also a common solvent used in lithium-ion battery electrolytes due to its high dielectric constant and ability to dissolve lithium salts. (Balaji Amines)
6. Gamma-Butyrolactone (GBL): This solvent can be used in sodium-ion battery electrolytes due to its ability to dissolve sodium salts and improve ionic conductivity.
7. 1,2-Dimethoxyethane (DME): It’s another solvent occasionally used in sodium-ion battery electrolytes to enhance the performance of the system.
8. Sulfolane: This high boiling point solvent is sometimes used in sodium-ion battery electrolytes due to its good stability and compatibility with sodium salts.
9. Monoglyme is one of those solvents used as a mix combination with dimethyl carbonate or other solvents to dissolve the electrolyte salts. So, this becomes the
   part of the electrolyte solution within the Lithium battery (Tatva Chintan)

Now Electrolyte Additive can be used either in Sodium Ion or in Lithium Ion Profiles.

The real threat is to the Electrolyte salts as in case if market changes to go for Sodium Ion:

Here are their common variances :

• Sodium-ion batteries might use sodium salts like sodium hexafluorophosphate (NaPF6), sodium chloride (NaCl), sodium perchlorate (NaClO4), or other sodium-based compounds.
• Lithium-ion batteries commonly use lithium salts such as lithium hexafluorophosphate (LiPF6), lithium carbonate (Li2CO3), lithium perchlorate (LiClO4), and lithium tetrafluoroborate (LiBF4).

Lithium – We do know that companies like Neogen, GFL, Reliance are making a mark.
For Sodium ion – only 4-5 companies have developed this product and has patent.

1. Faradian (Acquired by Reliance)
2. BYD (China)
3. KPIT (India)
4. CATL : Cherry Auto (Chinese)

Coming to the profile of Sodium vs Lithium comparative difference

Credits : Lithium-ion vs. Sodium-ion Batteries: Sustainable Energy Options for the Future

Since i spoken about batteries why not Super capacitors than only the battery side we are looking into?

Lithium Ion

1. Relies on Chemistry reactions
2. Consist of Anode and Cathode

How it works : These two sides are submerged in a liquid electrolyte and separated by a micro-perforated separator, allowing only ions to pass through. During batteries’ charging and discharging, the ions tend to flow back-and-forth between the anode and cathode. While this ion transfer process occurs, the battery gets heated up, expands, and then contracts. These reactions gradually degrade a battery, resulting in a reduced lifespan of batteries.

Super Capacitors

1. Don’t rely on Chemical Reactions
2. They store potential energy electrostatically within them

Supercapacitors use dielectric or insulator between their plates to separate the collection of positive (+ve) and negative (-ve) charges building on each side’s plates. It is this separation that allows the device to store energy and quickly release it. It basically captures static electricity for future use.

Super capacitors are good for immediate burst of power.

Power Density, Energy Density vs Storage Forms

Credits : Supercapacitors – A Viable Alternative to Lithium-Ion Battery Technology? – FutureBridge.

Going forward now they are trying to collaborate Lithium + Supercapacitors = naming it Lithium Ion Capacitors
Here is the video : https://www.youtube.com/watch?v=XlON0Uj2Zk0

Coming to the Indian company profiles

Capex Plans – All of them have plans to expand based on their formations.

Environment Clearance

1. Tatva Chintan : https://environmentclearance.nic.in/DownloadPfdFile.aspx?FileName=fgftrmkwVeXyTcQelv2gWFJL3QzFq5qLxOqYwfPDYCdMNPl6td6l3jIDNGgvnquPj6Tkbklk7Qu3XpwsBEeRVW374LqDQYtnIDU3EB6tyQq3C2hsR8Nh4wR4YO00qXR4ep/9bER2jqKROPPHJ2GdYZjuLMN6VT7NAyqLyRP4eU0WaRkDA8Vp5qmlPa7uSY67&FilePath=93ZZBm8LWEXfg+HAlQix2fE2t8z/pgnoBhDlYdZCxzUlDadBGu7t8v4JoQvNU6UBlSmL0YQ7WQYaxkvlQvexKQ==
2. Balaji Amines : https://environmentclearance.nic.in/writereaddata/Online/TOR/0_0_13_Jul_2015_190624310RT2EHBriefSummary.pdf

Established in 1996 as a subsidiary of the IIFL Group, IIFL Securities Limited is a comprehensive financial services provider, catering to both retail and institutional clients across India. The company specializes in retail and institutional equities, financial products distribution, commodity broking, currency broking, investment banking, financial planning, and wealth management services.

Key Offerings:

1. Retail Broking: Services include equities, commodities and currency broking, financial planning, depository participant services, distribution of mutual funds and bonds, portfolio management services (PMS), alternative investment funds (AIF), retirement planning, and estate planning.
2. Institutional Broking: Provides broking services, corporate access, and research support to institutional clients.
3. Investment Banking: Engages in activities such as Initial Public Offerings (IPOs), Qualified Institutional Placement, Rights Issues, Preferential Placement, Follow-on Public Offer, mergers and acquisitions, share buybacks, tender offers, and delisting. Additionally, the company offers advisory services.

Revenue Split (FY22):

• Capital Market Activity: 81%
• Insurance Broking: 4%
• Facilities & Ancillary: 15%

Pan-India Presence:
IIFL Securities has a widespread presence, serving over 3.5 lakh active clients and reaching more than 2.4 million customers through a network of 2,500 points of contact across 500 cities in India.

Institutional Broking Franchise:
The company holds a prominent position in the industry with offices in Mumbai, New York, and London. It serves 770+ institutional clients, both domestic and foreign, covering a wide range of stocks, accounting for over 80% of India’s market capitalization.

Subsidiaries:
IIFL Securities Limited has five major subsidiaries, namely IIFL Facilities Services Limited, IIFL Insurance Brokers Limited, IIFL Management Services Limited, IIFL Capital Inc., and IIFL Wealth (UK) Limited.

Business Developments:

• Entered the Alternative Investment Fund (AIF) business through subsidiary, launching two AIFs in listed and unlisted/startup spaces.
• Achieved the top ranking in raising equity for private sector IPOs during the FY18-FY21 period.

Strategic Movements:

• Sold a 5% stake in Livlong Protection and Wellness Solutions Ltd, a wholly-owned subsidiary, to Mr. Gaurav Dubey.
• Acquired 1.1 million accounts of Karvy stock broking through a formal bidding process.
• Established a tie-up with Karnataka Bank to introduce “KBLSmart Trade,” offering instant paperless account opening and a consolidated Demat and trading account feature.

Financial Highlights:

• Conducted a buy-back of 1.7 crore equity shares on February 15, 2021, with an outlay of 105.7 Crores.
• Reported investments totaling 227 crores as of March 2022, demonstrating a substantial increase from the 73 crores recorded in March 2021. These investments comprise various equity and debt instruments.

Invested in small quantity.

Need your help in analysing this stock is the good for long term hold?

I am a doctor working in govt hospital.Reagrding the quality of CT scansn and MRI s of KRSNNA I can surely tell that it’s much better than some of the other pvt set up centre s…and my specialist s friends in private sometimes refer their cases to KRSNNA for better quality scans…
Not invested.but following

Great thread!