But their GNPA has increased during the same period, when most of the Banks and NBFC have seen reduction in GNPA. Can someone help me understand this?

Carysil has acquired new company United Granite LLC, what all views do you have on this how do you see Solid surface segment working out in future for Carysil

They may have covered a lot, and it could be true that there is little to contribute from your side, then bring in something of your own to the company you are interested in, it need not be anything quantifiable, it could be intangible, your perspective, your view of the business, even if it does not match with the analysis provided by them.

We can get an idea from anywhere in the world, but if we can add something of our own to it and go forward, I guess that would feel better. And you can follow the stock on your own, and even if the people who have analyzed the business stop talking about now, you can see if you can hold the stock for some more time, considering you have added your own view and are following the stock. There exist a lot of approaches if we want to go forward, many ways to skin the cat.

On a lighter note, I think you don’t know what he does, he is a CA.

Good results.

Impressive QoQ and YoY increase in revenue, ebitda, and pat.

~2.5x YOY growth in PAT – value addition gaining traction.

Racl -Update

Racl -Future growth(2024-july+sept)

PERFORMANCE
26% CAGR GROWTH in last 2 yrs

1…TVS
=Recently the new electric scooter launched by TVS a couple of days back which is an extensive scooter, RACL is the single sole supplier for their entire rear axel assembly and many other things.

2…Super bike
=One more major super bike is being launched maybe in September for which the entire transmission is being supplied by RACL.

3…Cars
=Until FY2020, the company was zero is passenger car vehicle and last year it was 6% and this year it will be more than 10%. RACL is into passenger cars like BMW 7 series, Porsche, Mercedes AMG, BMW X7, Aston Martin. The kind of precautions and stringent requirements are a lot in these segments.

4…Yokes
Developing Yokes for motorcycle. The rear wheel will be driven by the propellers instead of a routine chain

=Bagged order from an European Two Wheeler manufacturer for supplying finishd forgings Yoke’s. This is a new business line. In past, RACL has never supplied parts till Forging stage

=At present none of the Yokes are used in Motorcycles in India. These are very high end Yokes being used in European 2 wheelers

5…ZF
=SOP for two new ZF business for started in June 2023. ZF dedicated plant running at 95% Utilisation. Project volume has peaked 2 years before anticipated projections

6…Company likely to win one big project in a new segment. Details to be known by next Qtr

7…Capex

=New Shakti plant was inaugurated in March 2023. The plant has been commissioned and commercial production has started for few projects

=Capex projection for FY-24 to 27 at 250 cr

= The company has projected capital expenditure of ~Rs.61 crore for FY24 (refers to the period from April 01, 2023 to March 31, 2024) for the purpose of creating capacities for existing products alongside new customers and modernization/upgradation of existing plant and machinery.

=No investment is made by the company unless the company gets a nomination letter from the customer

8…Intend to keep growing the company at > 20 pc CAGR for the foreseeable future

9…Others

=Received best supplier award for 100% Delivery by Kubota India in for CY 22

=Gajraula Plant is TISAX & ISO 27000 certified. Probably one of the first few in India for a company of our size.

=Moving from lose component manufacturer to highly precisioned oriented manufacturer.
-The more complex the part is, the more margin RACL is able to command

Disc…invested