Clean Science & Technology Ltd

- There is no explicit mention of any current or planned fundraising through debt or equity in the transcript. - The company has invested significantly in subsidiaries and capex, including INR150 crores for a new performance chemicals plant and INR30 crores for pharma intermediates. - Investments in the subsidiary (CFCL) have been funded by the parent company, with a total infusion of INR435 crores as of now. - No indication from management about raising external funds through equity or debt during this period. - Focus appears to be on internal funding and organic growth through capex and product commercialization.

- Q1 FY'25 capex of ~INR100 crores primarily invested in subsidiary Clean Fino-Chem Limited (CFCL). - Pharma intermediates plant: INR30 crores capex, expected commercialization by Q3 FY'25. - Performance Chemicals segment: - INR150 crores capex plant under construction at subsidiary, targeting commercialization by H1 FY'26, expected to address 15% of global market demand. - Another INR150 crores capex starting September 2024, focusing on water treatment chemicals, with 10-12 months construction and water trials timeline. - Total planned capex around INR300 crores across these projects, with some spillover into FY'26. - Future capex decisions for legacy products and capacity expansion to be evaluated by end of 2024 based on market absorption. - Additional investment planned in 6 MW solar plant to improve ESG and reduce power costs.

- HALS segment volume target: Aspirational ramp-up to 150-200 tons per month in coming months; aiming for ~2,000 tons sales volume in FY'25 and 2,500-3,000 tons by FY'26 (50% capacity utilization). - Revenue from new HALS capacity aimed at $7-$8/kg realization. - Performance Chemicals segment and other products like MEHQ, DCC, TBHQ showing growing volumes and utilization around 65-70%. - Volume growth is the primary driver for revenue increase; price realizations remain stable or slightly lower. - Plans for INR 300 crore capex in FY'25 to expand capacities mainly in Performance Chemicals and Pharma intermediates, expected to enhance future sales. - Targeting 70-75% of the Indian HALS market with expansion into Asian, American, and European export markets. - Sustained quarter-on-quarter volume growth expected, with ongoing ramp-up of commercial production and new product launches supporting revenue growth.

- Revenue growth is expected to be primarily volume-led, with price realizations remaining steady or slightly lower. - EBITDA margins have shown improvement sequentially due to better product mix and expense control; further margin expansion is anticipated as new plant capacities scale up. - New capex plans include INR300 crores across pharma and performance chemicals segments, with commercialization expected by Q3 FY'25 and H1 FY'26, targeting about 15% of market demand. - HALS segment volume is projected to increase from current ~125 tons/month towards 150-200 tons/month in the near term, with an aim to reach 50-80% capacity utilization within 3-4 years. - Consolidated profitability currently impacted by start-up costs in subsidiary but expected to improve as new products gain traction. - Overall, performance chemicals, pharma intermediates, and FMCG chemical segments show positive volume growth prospects underpinning future earnings expansion.

- The company currently has around INR 300 crores to INR 400 crores of projects commissioned and in the pipeline (Page 14). - There is an ongoing INR 300 crores capex planned primarily in the performance chemicals segment, to be executed within FY'25 and partly spilling over to FY'26 first half (Pages 12-13). - Capex includes investments to expand capacity and commercialization of new products in pharma intermediates, water treatment chemicals, and performance chemicals (Pages 10-13). - The INR 150 crores capex for novel process and water treatment segment is underway (Page 11). - The subsidiary, CFCL, has received total infusion of INR 435 crores to date and houses HALS plants with about INR 350 crores in fixed assets (Page 12). - Decisions on additional capacity expansion, especially of legacy products, will be evaluated by end of 2024 (Page 13-14).