Any current/future new fundraising through debt or equity?

Currently, the company has zero debt. They have raised funds through a Qualified Institutional Placement (QIP). They plan to take debt of around Rs. 30-40 Crores towards the closing part of the ongoing capex project. The timing of this debt is expected near project completion; no debt is planned immediately. They are considering both foreign currency loans and Indian rupee loans depending on the most favorable option at that time. Foreign currency loans, if taken, could be offset against exports, reducing currency risk. No immediate equity fundraising mentioned beyond the QIP already completed

Any current/future capex/capital investment/strategic investment?

Ongoing expansions include CPC Green (480 tonnes per annum), Silica, and H Acid projects. Expected incremental revenues from expansions: Rs.50 Crores from H Acid, Rs.100 Crores from Green expansion, Rs.100 Crores from Silica. H Acid expansion revenue to start contributing from Q1 FY2019. Silica expansion revenue expected from Q1 FY2020. CPC Green second phase expansion to complete in next 12 months. Violet 23 pigment plant commenced trial production; expected sales from Q1 FY2019. CPC Blue project is underway for captive consumption but will not contribute to revenues. Total new capex incremen

Future growth expectations in sales/revenue/volumes?

The company expects an additional revenue of approximately Rs.250 Crores from expansions over the next two years. Incremental revenue breakdown: - H acid expansion: ~Rs.50 Crores, expected to contribute from FY2019. - CPC Green expansion: ~Rs.100 Crores, expected mostly in FY2020. - Silica expansion: ~Rs.100 Crores, expected from Q1 FY2020. Current planning targets around 80% capacity utilization within two years, with potential to reach 90% later. Vinyl Sulphone and CPC Green volumes grew by 10% in nine months FY2018 and 25% in Q3 FY2018 year-on-year. New Violet 23 pigment sales are ant

Future growth expectations in earnings/operating earnings/profits/EPS?

Incremental revenue of Rs. 250 Crores expected from expansions over next two years: - Rs. 50 Crores from H acid in FY2019 - Rs. 200 Crores from CPC Green and Silica expansions in FY2020 Capacity utilization target: - Around 80% achievable in two years, with potential to reach 90% eventually - Higher utilization expected to drive revenue growth EBITDA margins forecast: - Expected to remain between 15% and 20%, depending on raw material costs and currency fluctuations - Margins on CPC Green and Silica expected to be stable; Vinyl Sulphone margins more volatile Ta

AksharChem (I)Q3 FY18Chemicals & Petrochemicals

AksharChem (I) Q3 FY18 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹414.7P/E: 26.9Market Cap: ₹333 CrSector: Chemicals & Petrochemicals

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

The company expects an additional revenue of approximately Rs.250 Crores from expansions over the next two years.
Incremental revenue breakdown:
- H acid expansion: ~Rs.50 Crores, expected to contribute from FY2019.
- CPC Green expansion: ~Rs.100 Crores, expected mostly in FY2020.
- Silica expansion: ~Rs.100 Crores, expected from Q1 FY2020.
Current planning targets around 80% capacity utilization within two years, with potential to reach 90% later.
Vinyl Sulphone and CPC Green volumes grew by 10% in nine months FY2018 and 25% in Q3 FY2018 year-on-year.
New Violet 23 pigment sales are anticipated to start from Q1 FY2019.
Overall volume growth is forecasted at around 11% aligned with industry expectations.
The company expects improved revenue and utilization post capacity expansions, gradually increasing revenue growth.

Margin guidance

Category 3

Incremental revenue of Rs. 250 Crores expected from expansions over next two years:
- Rs. 50 Crores from H acid in FY2019
- Rs. 200 Crores from CPC Green and Silica expansions in FY2020
Capacity utilization target:
- Around 80% achievable in two years, with potential to reach 90% eventually
- Higher utilization expected to drive revenue growth
EBITDA margins forecast:
- Expected to remain between 15% and 20%, depending on raw material costs and currency fluctuations
- Margins on CPC Green and Silica expected to be stable; Vinyl Sulphone margins more volatile
Tax rate:
- Currently around 30%, expected to reduce significantly from next year due to depreciation benefits from expansions
Volume growth:
- 10% growth over nine months FY2018
- 15% CAGR export growth expected
Profit growth impacted in short term by production loss due to plant shutdown, but expected to improve post expansions.

See what AksharChem (I) management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Currently, the company has zero debt.
They have raised funds through a Qualified Institutional Placement (QIP).
They plan to take debt of around Rs. 30-40 Crores towards the closing part of the ongoing capex project.
The timing of this debt is expected near project completion; no debt is planned immediately.
They are considering both foreign currency loans and Indian rupee loans depending on the most favorable option at that time.
Foreign currency loans, if taken, could be offset against exports, reducing currency risk.
No immediate equity fundraising mentioned beyond the QIP already completed.

Order book

The transcript provided in the document "114.pdf" does not explicitly mention the current or expected order book or pending orders for AksharChem India Limited as of Q3 or FY2018. However, some relevant points related to production and sales that may indirectly indicate order status are: - The company experienced a 15-day plant shutdown affecting production of CPC Green pigment, causing revenue loss, indicating active order fulfillment pressure. - Munjal Jaykrishna mentioned constant order book positions, implying ongoing demand for CPC Green pigment. - Volume growth of 25% in Q3 FY2018 and 10% in nine months FY2018 implies strong sales/orders. - New capacity expansions in green pigment, H acid, and silica are underway to meet demand and grow revenues by Rs. 250 Crores over next 2 years. - Vinyl Sulphone exports and pigment businesses show stable and growing demand, supporting healthy order inflows. No specific quantitative order book or pending orders data are disclosed.

See what AksharChem (I) management said on order book — free account, 30 seconds.

Capex plans

Yes

Ongoing expansions include CPC Green (480 tonnes per annum), Silica, and H Acid projects.
Expected incremental revenues from expansions: Rs.50 Crores from H Acid, Rs.100 Crores from Green expansion, Rs.100 Crores from Silica.
H Acid expansion revenue to start contributing from Q1 FY2019.
Silica expansion revenue expected from Q1 FY2020.
CPC Green second phase expansion to complete in next 12 months.
Violet 23 pigment plant commenced trial production; expected sales from Q1 FY2019.
CPC Blue project is underway for captive consumption but will not contribute to revenues.
Total new capex incremental revenue expected around Rs.250 Crores, with Rs.50 Crores in FY2019 and Rs.200 Crores in FY2020.
Debt planned to support capex around Rs.30-40 Crores, undecided on foreign currency or rupee loans.
Capex expected to complete within next 12 months.

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AksharChem (I) Q3 FY18 Earnings Call Analysis

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