Any current/future new fundraising through debt or equity?

There is no specific mention of any immediate plans for new fundraising through debt or equity in the provided transcript. The company currently has sufficient cash reserves, around INR88 crores, and is not in a hurry to make acquisitions or raise new funds. CapEx plans to double capacity are scheduled to start from 2025, not in 2024, indicating no immediate large capital raise. The focus appears to be on utilizing existing internal resources and cash flow for growth and market penetration. The company plans to maintain dividend payouts, implying stable financial health without a pressing need

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

No major CapEx plan for 2024; current capacity is sufficient for near-term growth. Planning to start capacity doubling project in 2025, potentially greenfield or brownfield depending on market situation. Focus on improving utilization of existing capacity and expanding market share before new capacity investment. Open to strategic acquisitions if good opportunities arise, but no active plans currently to disrupt existing business structure. Cash reserves will be utilized for planned growth and market penetration efforts over the next two years. Continuous investment in back-office and promotio

Future growth expectations in sales/revenue/volumes?

The company expects 20% to 25% topline growth for FY24, driven mainly by a push in building construction materials in Q3 and Q4. (Page 13) Quarterly volume growth is around 5-6% quarter-on-quarter, with year-on-year volumes remaining largely flat. (Page 16, 17) The management is optimistic about improving topline in coming quarters through deeper market penetration and boosting market presence, especially in existing and newer states like UP and Delhi. (Pages 4, 6, 16) The carpenter loyalty program aims to increase the registered carpenter network from 3 lakh to 4 lakh in the next 1.5 years, w

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

The company is optimistic for Q3 and Q4 FY24, expecting a strong push due to building construction materials demand. Plans to achieve 20%-25% top-line growth for the full FY24, relying on Q3 and Q4 performance. Growth will be steady and strong without compromising market stability or bleeding in the market. EBITDA margins are expected to be maintained supported by lower raw material costs and better mix of premium products. Volume growth is currently flat year-on-year but 5%-6% quarter-on-quarter improvement is reported, indicating gradual recovery. Capacity utilization is around 50%

Current/ Expected Orderbook/ Pending Orders?

The transcript does not explicitly mention the current or expected order book or pending orders in specific numeric terms. Utkarsh Patel expresses optimism about order inflow for Q3 and Q4 FY24, especially due to seasonal demand in the building construction materials segment. He highlights that Q3 and Q4 traditionally see increased demand, with Q4 expected to have a significant jump. The company is actively expanding its presence in new states like UP and Delhi, with ongoing product placements and awareness programs to boost orders. Inventory procurement strategies depend on market conditions,

Jyoti Resins and Adhesives LtdQ2 FY24Chemicals & Petrochemicals

Jyoti Resins and Adhesives Ltd Q2 FY24 Earnings Call Analysis

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

Price: ₹863.75P/E: 16.1Market Cap: ₹1.0K CrSector: Chemicals & Petrochemicals

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 2

The company expects 20% to 25% topline growth for FY24, driven mainly by a push in building construction materials in Q3 and Q4. (Page 13)
Quarterly volume growth is around 5-6% quarter-on-quarter, with year-on-year volumes remaining largely flat. (Page 16, 17)
The management is optimistic about improving topline in coming quarters through deeper market penetration and boosting market presence, especially in existing and newer states like UP and Delhi. (Pages 4, 6, 16)
The carpenter loyalty program aims to increase the registered carpenter network from 3 lakh to 4 lakh in the next 1.5 years, which is expected to support revenue growth. (Pages 15, 16)
Capacity expansions are planned from 2025 onwards to support future growth. (Page 9)
Emphasis is on strong and steady growth without compromising margins or market structure. (Page 13)

Margin guidance

Category 3

The company is optimistic for Q3 and Q4 FY24, expecting a strong push due to building construction materials demand.
Plans to achieve 20%-25% top-line growth for the full FY24, relying on Q3 and Q4 performance.
Growth will be steady and strong without compromising market stability or bleeding in the market.
EBITDA margins are expected to be maintained supported by lower raw material costs and better mix of premium products.
Volume growth is currently flat year-on-year but 5%-6% quarter-on-quarter improvement is reported, indicating gradual recovery.
Capacity utilization is around 50%-60% currently, with plans to utilize existing capacity more efficiently before any major CapEx, which is planned from 2025 onwards.
The company aims to increase market share domestically rather than focusing on exports in the near term.
Long-term expectations include steady EBITDA margins (~25%-35%), growth in profit margins supported by raw material cost control, and enhanced market penetration to support earnings growth.

See what Jyoti Resins and Adhesives Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no specific mention of any immediate plans for new fundraising through debt or equity in the provided transcript.
The company currently has sufficient cash reserves, around INR88 crores, and is not in a hurry to make acquisitions or raise new funds.
CapEx plans to double capacity are scheduled to start from 2025, not in 2024, indicating no immediate large capital raise.
The focus appears to be on utilizing existing internal resources and cash flow for growth and market penetration.
The company plans to maintain dividend payouts, implying stable financial health without a pressing need for external fundraising at present.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders in specific numeric terms.
Utkarsh Patel expresses optimism about order inflow for Q3 and Q4 FY24, especially due to seasonal demand in the building construction materials segment.
He highlights that Q3 and Q4 traditionally see increased demand, with Q4 expected to have a significant jump.
The company is actively expanding its presence in new states like UP and Delhi, with ongoing product placements and awareness programs to boost orders.
Inventory procurement strategies depend on market conditions, with some benefit gained from favorable pricing in raw materials, leading to inventory build-up.
Overall, the focus is on steady topline growth with strong margins rather than aggressive topline expansion, aiming for 20-25% growth in FY24, contingent on market evolution.

See what Jyoti Resins and Adhesives Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

No major CapEx plan for 2024; current capacity is sufficient for near-term growth.
Planning to start capacity doubling project in 2025, potentially greenfield or brownfield depending on market situation.
Focus on improving utilization of existing capacity and expanding market share before new capacity investment.
Open to strategic acquisitions if good opportunities arise, but no active plans currently to disrupt existing business structure.
Cash reserves will be utilized for planned growth and market penetration efforts over the next two years.
Continuous investment in back-office and promotion teams to support loyalty programs and product penetration.

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