Key Highlights

Investments in capacity additions in key products, increasing outsourcing opportunities, increase in consumption in domestic market, Chinese disruptions all are helping in the growth.

Macro economic disruptions in China is aiding better realisation

Performance product has turned around. The company entered new geographies and widened its reach. The company did Rs 180 crore of sales in FY 18 of Optical Brightening segment (OBS) and expects Rs 240 crore net sales in FY 19 and aiming for Rs 300 crore of net sales in FY 20 from this segment.

Despite increase in raw material and other costs, margins improved due to better realisation and increase in volumes which was aided by forex gains as well.

Debt as on Sep 18 stands at Rs 470 crore. Debt to equity ratio at 0.48. At consolidated debt the debt stands at around Rs 1300 crore and one can add Rs 350 crore of working capital for Dahej plant.

Substantially reduced borrowing in foreign currency due to adverse rupee. Term loan of around Rs 850 crore now entirely in Rupee. Total foreign currency borrowing stands at Rs 170 crore.

50% capacity utilization on a run rate basis in FY 19 and around 80-85% capacity utilization in FY 20 on Phenol capacity utilization.

Raw material Propylene is sufficiently tied up for next 2 years.

Acetone demand is also strong and the company's product is well accepted by the market like Phenol. 60% of acetone demand is in Pharma sector.

The company has further plans for downstream products of Phenol. Let the project start and cash flows come in and company will commence on that.

Expects at consolidated level depreciation and interest figure of around Rs 270 crore including Phenol plant. (Rs 100 crore for standalone and rest for Phenol).

Globally some capacities have been shut down which will further aid the prices of Phenol and Acetone.

Not importing any raw material from China.