Sejal Glass Ltd

- The company is in the middle of negotiations for one or two acquisitions in India, expected to conclude in this quarter (Q2 or Q3). - Funding for acquisitions will be a mix of debt and equity; exact ratio will depend on valuation and payment structure once finalized. - Management emphasized they will avoid increasing interest burden significantly while funding acquisitions. - No specific new debt or equity fundraising has been planned or concluded yet for capex or expansions; decisions will be made after acquisition conclusions. - Current long-term debt stands around INR70 crores with INR9 crores short-term working capital loan, and total consolidated debt approximates INR140 crores. - No mention of QIP or fresh equity fundraising currently; focus is on negotiating acquisitions and using internal approvals combined with debt-equity financing.

- The company is working on one or two acquisition proposals in India, expected to conclude soon. - Post-acquisition funding will be planned through a mix of equity and debt; details to be finalized after valuation. - No immediate plans for organic capacity expansion; focusing on filling current capacity and ramping up utilization. - Potential acquisitions will add approximately INR100-125 crores to the top line. - Maintenance capex is budgeted annually at around 1.5% to 2% of turnover. - Replacement cost of equipment for both plants is estimated around INR100 crores. - Future expansions or new acquisitions depend on market demand and achieving targeted turnover and EBITDA. - No decided plans yet regarding entry into float glass manufacturing; market study ongoing. - Value-added products (e.g., lamination, bulletproof glass) are being introduced to enhance product basket and margins.

- Targeting INR300 crores turnover by filling pending capacity in the current year. - Aiming for INR400 crores turnover next year with the same capacity. - Expecting 15%-20% growth in India and UAE markets in Q3. - Order book worth INR25 crores in India and AED 40 million in UAE to be delivered over 5-6 months. - Expansion plans contingent on market demand; evaluating acquisitions for added capacity (~INR100-125 crores top line). - Ramp-up in UAE plant capacity utilization expected; targeting 100% utilization by FY25-26. - Increasing presence in new geographies like Europe and the U.S. with ongoing negotiations. - Launching value-added products (lamination, bulletproof glass) to boost revenues and margins starting next month. - EBITDA expected to improve to 15%-16%, possibly more with operational efficiencies and new product mix.

- The company targets around INR300 crores turnover in the current year and aims for INR400 crores next year with existing capacity, indicating strong revenue growth. - EBITDA margins are expected to rise from about 13.81% to 15%-16% in FY25, with potential to improve by another 2%-3% at full capacity. - Operational efficiency gains and new value-added products (like lamination and bulletproof glass) are anticipated to enhance margins and profitability. - Expansion into new geographies (U.S. and Europe) and acquisition-driven growth (adding INR100-125 crores top line) are expected from Q3 onward. - Tax benefits in India will continue for 3-5 years, improving net earnings. - Overall, sequential quarterly growth is projected, with Q4 expected to be the strongest quarter, driving improved earnings and EPS.

- UAE order book is around AED 40 million (approx. INR 80-85 crores) as of August 2024. - About 75% of the UAE order book is from the domestic UAE market; 25% from Qatar, Bahrain, Africa, and other GCC countries. - India has a confirmed project order book of around INR 25 crores, expected to be delivered over the next 5-6 months. - On a daily basis, India sees new order bookings of approximately INR 10-12 lakhs from retail and smaller projects. - The company is negotiating 3-5 sizable projects in the U.S. and 2-3 projects in India, expected to enhance Q3 and Q4 operations. - For Q3, expected turnover growth in India and UAE by 15%-20% each.