Highlights of the meet

• Sales increased 17% to Rs 1761 crore in FY'12 compared to FY'11 (up Rs 253 crore). Volume increase led incremental sales growth of Rs 68 crore while increase in selling price led incremental sales of Rs 185 crore.

• The management is not satisfied with its growth. It would be happy to see revenue growth rate of 30-35%

• PBIDT before exchange grew 6% to Rs 215 crore in FY'12 compared to FY'11 (up by Rs 12 crore). Volume increase led incremental PBIDT of Rs 18 crore while increase in selling price led incremental PBIDT of Rs 185 crore offset by Rs 130 crore increase in raw material price, Rs 15 crore increase in salaries, Rs 5 crore increase in repairs and maintenance, Rs 17 crore increase due to rupee depreciation and Rs 24 crore increase in other expenses.

• Gross working capital days decreased to 150 days in FY'12 from 151 days in FY'11 and Net working capital days decreased to 75 days from 76 days.

• In absolute terms Gross working capital increased to Rs 774 crore in FY'12 from Rs 677 crore in FY'11 and Net working capital days increased to Rs 401 crore from Rs 352 crore.

• Net Cash flow from operating activities increased to Rs 121 crore in FY'12 from Rs 59 crore in FY'11

• Total borrowings increased to Rs 375 crore at the end of March 2012 from Rs 317 crore at the end of March 2011. Long-term borrowings formed 49% of total borrowings in FY'12 while working capital loan formed 51%. Rupee currency loans formed 62% of total borrowings in FY12 while foreign currency loans formed 38%

• Debt to equity ratio decreased to 1.81 in Fy'12 from 1.92 in FY'11

• Interest to sales rose marginally to 1.8 in FY'12 from 1.7 in FY'11

• The company is doing a number of projects with an investment of Rs 130 crore and expects Rs 400-500 crore of additional revenues

• The company expects to cross Rs 2500 crore of revenues by FY'14

• The company is seeking to improve profitability and then looking for growth

• User industry are Personal Care, pharmaceutical, Flavors & Fragrance (F&F), Dyestuff and Paper

• No. of customers is approximately 400

• Sales from the segment increased 34% to Rs 469 crore.

• The company expects revenues of Rs 600-700 crore in FY'13

Bulk Intermediates

• User industries are Tyre, Rubber, Dyestuff, Paper and pharmaceuticals

• No. of customers is approximately 227

• Sales from the segment increased 9% to Rs 107 crore.

Colors

• User industries are Textiles, Paper and paints and coatings

• No. of customers is approximately 1350

• Sales from the segment increased 7% to Rs 347 crore.

• Lower sales growth as user industry textile is suffering

Crop protection

• User industries is Agriculture

• No. of customers is approximately 63

• Sales from the segment increased 15% to Rs 352 crore.

• The business is dependent on monsoons and fluctuations in commodity prices.

Pharma & Intermediates

• User industries is pharma, polymers, crop protection, Aerospace, Electronics, paper

• No. of customers is approximately 100

• Sales from the segment increased 12% to Rs 106 crore.

Polymers

• User industries is paints and coatings, civil, power transmission, wind energy, defense, automotive and aerospace

• No. of customers is approximately 458

• Sales from the segment increased 11% to Rs 407 crore.