Sejal Glass Ltd

- Promoter funding currently includes loans (quasi equity), mainly for UAE acquisition and operations. - No immediate plans for large CAPEX or equity fundraising this year; any expansions are minor realignments costing Rs. 5-7 crores. - Promoter loans might be converted to equity in a couple of years, but not at this stage. - Promoters are selling shares to meet minimum public shareholding norms (aiming to reduce promoter holding from 77.45% to 75% within 1-2 quarters). - After achieving public shareholding norms, the company may consider Qualified Institutional Placement (QIP) or other fundraising methods for repaying promoter loans or funding expansions in India. - No finalized plans currently; discussions on fundraising or replacing promoter loans via QIP are possible post public holding compliance.

- No significant CAPEX planned for the current year except minor realignment and small finishing machines. - For new products like bulletproof and fireproof glass, only minor additional equipment worth Rs. 5-7 crores is needed, no major capacity expansion. - No expansion in India currently; focus is on capacity utilization improvement and product value addition. - Future expansions might occur through acquisition or tie-ups in India, with potential announcements expected in 1-2 quarters. - The company is exploring the solar glass market and may invest if market conditions are favorable. - Long-term promoter funding might be replaced by equity or long-term borrowing in the next 1-2 years. - UAE plant recently acquired; no further expansion planned there currently.

- Targeting Rs. 275 to Rs. 280 crores turnover for FY25 with an EBITDA margin of 16%. - UAE sales expected to more than double reaching around Rs. 220 crores, with India contributing Rs. 80 crores. - Q-o-Q growth anticipated at about 15%, driven by both India and UAE operations. - Value-added product contribution to revenue expected at around 25% next year; basic products 35-40%, mid-size products ~30%. - UAE market expanding with a current 10% market share and expected capacity utilization of 80-85% post-expansion. - India capacity utilization also expected to cross 80-85%, with potential future expansions including inorganic growth and solar glass market entry. - Growth driven by strong demand in real estate (India and GCC), niche products, and improved product mix to enhance margins and volumes. - Promoter discussions underway for acquisitions and expansions to support growth trajectory.

- Sejal Glass targets a turnover of Rs. 275-280 crore for FY25, with an EBITDA margin of around 16%. - Full-fledged capacity utilization may push turnover to Rs. 350 crore with EBITDA margins improving by ~200 basis points to around 18%. - EBITDA margins in India are expected to improve from 12% to 14-15% as capacity utilization rises. - UAE operations projected to contribute significantly with expected sales of Rs. 220 crore by FY25 and EBITDA margins around 15-16%. - Working capital loans expected to stabilize or reduce after 2 years as business growth matures. - Overall revenue growth expectation is 15% Q-o-Q in future quarters, with a continual ramp-up of production capacity including recent addition of tempering and lamination lines. - Earnings growth is underpinned by operational efficiencies, product value addition, and market expansion, including potential acquisitions in India.

- UAE order book position: Approximately AED 60 million as of current year. - India order book position: Around Rs. 30 crores for the year. - UAE execution period for order book: 8 to 10 months. - Indian orders are confirmed through Letter of Intent (LOI), followed by monthly release of glass sizes as per customer requirements. - New customers typically require advance payments, post-dated checks (PDC), or Letters of Credit (LC), depending on customer agreements. - The demand pipeline in both India and UAE is supported by ongoing marketing and sales efforts to secure and close projects regularly.