Any current/future new fundraising through debt or equity?

As per the discussion on pages 5 and 10, the company has not taken any new term loans recently, indicating no immediate new debt fundraising. The capex plan for the current year is progressing well with about Rs.30 Crores expected to be spent by year-end, funded through existing cash resources. There is no explicit mention of planned new equity fundraising in the provided transcript. The company is cautious about committing to large capex due to market shifts and intends to clarify future capex plans by May. Overall, no concrete plans for fresh debt or equity fundraising have been announced at

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

The company plans to undertake capex but is cautious due to a market shift, wanting to understand it well before committing to large investments. Licensed capacities are expected to increase by about 42%, which will require capex; exact figures for the next 2-3 years are yet to be finalized. This year’s capex is progressing on schedule, with about Rs.30 Crores expected to be spent by year-end. Competitors are announcing capex of Rs.200-300 Crores over the next 2-3 years; GOCL plans to keep pace by utilizing existing capacities and planned expansions primarily at Hyderabad and Rourkela. There i

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

The company is on a positive growth path in its core explosives and energetics business, with new products well accepted and exports growing. Orders in hand stand at around Rs.700 Crores, with an expected increase in licensed capacities by about 42-46%, enabling higher offtake. The domestic commercial explosives industry is projected to grow at 10-12%, with GOCL targeting 18-20% compounded growth over the next three years. GOCL projects 20% compounded growth in commercial explosives revenues over three years, outpacing industry growth. The company is cautious with capex, planning but awaiting

Current/ Expected Orderbook/ Pending Orders?

Current order book is approximately Rs. 700 Crores, which includes: - Rs. 680 Crores orders from Coal India and private sector. - Rs. 320 Crores orders for year one (September 2017 - August 2018). - Rs. 380 Crores orders for year two (September 2018 - August 2019). Coal India orders increased by about 25% in volume and 21% in value compared to the previous tender. Additional export orders contribute to the total order book. Order execution is well organized, with capacity increases expected to handle the volume rise. Licensed capacity for cartridge explosives expected to rise by 50%,

GOCL Corporation LtdQ2 FY18Chemicals & Petrochemicals

GOCL Corporation Ltd Q2 FY18 Earnings Call Analysis

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

Price: ₹308.4P/E: 5.7Market Cap: ₹1.5K CrSector: Chemicals & Petrochemicals

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

Yes

Capex

Yes

2 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 3

- GOCL Corporation is on a positive growth path in its core explosives and energetics business. - New products developed have been well accepted and exports are expanding with new countries added. - Current order book stands at approximately Rs.700 Crores including Coal India and other large customers. - Licensed capacity is expected to increase by about 42-46%, supporting volume growth. - The domestic commercial explosives industry is projected to grow at 10-12%, with GOCL targeting a higher compounded growth of 18-20% over the next three years. - GOCL projects a 20% compounded growth in commercial explosive revenues over three years, outpacing the industry. - Demand drivers include growth in coal output (expected 13-15%), mining, road infrastructure, and housing. - Capex plans are underway but being calibrated carefully due to market shifts; around Rs.30 Crores capex expected by year-end. Overall, management is confident of sustained growth driven by R&D, quality, and technical services.

Margin guidance

Category 3

The company is on a positive growth path in its core explosives and energetics business, with new products well accepted and exports growing.
Orders in hand stand at around Rs.700 Crores, with an expected increase in licensed capacities by about 42-46%, enabling higher offtake.
The domestic commercial explosives industry is projected to grow at 10-12%, with GOCL targeting 18-20% compounded growth over the next three years.
GOCL projects 20% compounded growth in commercial explosives revenues over three years, outpacing industry growth.
The company is cautious with capex, planning but awaiting clarity on market shifts before committing large investments.
Improved operational efficiencies and marketing efforts are expected to support growth.
Realty development may add value but is progressing slower than expected.
Overall, growth in earnings, operating profits, and EPS is anticipated, aligned with capacity expansion and industry demand.

See what GOCL Corporation Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

As per the discussion on pages 5 and 10, the company has not taken any new term loans recently, indicating no immediate new debt fundraising.
The capex plan for the current year is progressing well with about Rs.30 Crores expected to be spent by year-end, funded through existing cash resources.
There is no explicit mention of planned new equity fundraising in the provided transcript.
The company is cautious about committing to large capex due to market shifts and intends to clarify future capex plans by May.
Overall, no concrete plans for fresh debt or equity fundraising have been announced at this time; reliance appears to be on internal accruals and prudent capex management.

Order book

Yes

Current order book is approximately Rs. 700 Crores, which includes:
- Rs. 680 Crores orders from Coal India and private sector.
- Rs. 320 Crores orders for year one (September 2017 - August 2018).
- Rs. 380 Crores orders for year two (September 2018 - August 2019).
Coal India orders increased by about 25% in volume and 21% in value compared to the previous tender.
Additional export orders contribute to the total order book.
Order execution is well organized, with capacity increases expected to handle the volume rise.
Licensed capacity for cartridge explosives expected to rise by 50%, from 50,000 to ~75,000 tonnes.
Licensed capacity for bulk explosives expected to increase by about 42%, approximately 52,000 tonnes.
Company confident of achieving at least 18% to 20% compound growth over next three years.

See what GOCL Corporation Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

The company plans to undertake capex but is cautious due to a market shift, wanting to understand it well before committing to large investments.
Licensed capacities are expected to increase by about 42%, which will require capex; exact figures for the next 2-3 years are yet to be finalized.
This year’s capex is progressing on schedule, with about Rs.30 Crores expected to be spent by year-end.
Competitors are announcing capex of Rs.200-300 Crores over the next 2-3 years; GOCL plans to keep pace by utilizing existing capacities and planned expansions primarily at Hyderabad and Rourkela.
There is a focus on modernization and expansion of existing capacity and exploring new locations.
On the Realty side, active marketing and development efforts are ongoing, with approvals expected and work likely to start soon (e.g., Hyderabad development expected to break ground by March).
No loans have been taken recently; the company maintains a good cash position for funding capex.

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GOCL Corporation Ltd Q2 FY18 Earnings Call Analysis

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