Any current/future new fundraising through debt or equity?

The company is not taking any bank funding or external debt for the ongoing CAPEX. Expansion and CAPEX will be funded through internal accruals and the company's own money. CAPEX is being phased out over the next 12 to 18 months to accelerate self-financing. The company emphasizes maintaining a debt-free status and is currently interest-free. No mention of any planned equity fundraising was made during the call.

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

The company plans to nearly double its dyes capacity from the existing 6,000 tons per year installed capacity, currently utilized at around 65%. Expansion work for dyes is underway at Unit-5, which has space to accommodate this growth; post-expansion, Unit-5 land will be fully utilized. Unit-6 site development has started, focusing on the fertiliser segment, particularly complex NPKs, with approximately half of the land parcel being developed. Total CAPEX planned across Unit-5, Madhya Bharat, and Kisan Pushkar is around Rs. 215 crores, including Rs. 80 crores towards backward integration

Future growth expectations in sales/revenue/volumes?

Chemical sector volume increased by 26% in H1 FY24; installed capacity utilization is around 65%. Expect gradual production and demand recovery in dyes and fertilizers by Q4 FY24. Target consolidated revenue of approximately Rs. 900-1,000 crores in stable market conditions (likely by next year, not FY24). Post CAPEX, fertiliser sector revenue expected around Rs. 350-400 crores; chemicals balance. Capacity expansion: doubling dye capacity from 6,000 tons/year; chemical vertical expanding at Unit-5, fertiliser expansion ongoing at Unit-6. Conservative approach with phased CAPEX rollout over 12-1

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

The company expects moderate growth in revenue and profitability in coming quarters, with a focus on stability and sustainability rather than rapid top-line growth. Chemical sector volume increased by 26% in H1 FY24; utilization in chemicals is around 65%-66%, with potential for full capacity utilization to drive revenue growth. Planned CAPEX (total Rs. 215 crores) includes backward integration to improve margins and capacity expansion, expected to enhance revenue and profitability over next 12-18 months without bank funding. Fertiliser segment is currently facing challenges but expected

Sh.Pushkar Chem.Q2 FY24Chemicals & Petrochemicals

Sh.Pushkar Chem. Q2 FY24 Earnings Call Analysis

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

Price: ₹492P/E: 22.7Market Cap: ₹1.6K CrSector: Chemicals & Petrochemicals

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

N/A

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

Chemical sector volume increased by 26% in H1 FY24; installed capacity utilization is around 65%.
Expect gradual production and demand recovery in dyes and fertilizers by Q4 FY24.
Target consolidated revenue of approximately Rs. 900-1,000 crores in stable market conditions (likely by next year, not FY24).
Post CAPEX, fertiliser sector revenue expected around Rs. 350-400 crores; chemicals balance.
Capacity expansion: doubling dye capacity from 6,000 tons/year; chemical vertical expanding at Unit-5, fertiliser expansion ongoing at Unit-6.
Conservative approach with phased CAPEX rollout over 12-18 months; no bank funding for CAPEX.
Management confident about long-term growth potential despite current global uncertainties.
Expect similar PAT levels in next two quarters with moderate growth in volumes; focus on sustainability, not aggressive profitability.

Margin guidance

Category 3

The company expects moderate growth in revenue and profitability in coming quarters, with a focus on stability and sustainability rather than rapid top-line growth.
Chemical sector volume increased by 26% in H1 FY24; utilization in chemicals is around 65%-66%, with potential for full capacity utilization to drive revenue growth.
Planned CAPEX (total Rs. 215 crores) includes backward integration to improve margins and capacity expansion, expected to enhance revenue and profitability over next 12-18 months without bank funding.
Fertiliser segment is currently facing challenges but expected to recover by Q4 FY24, stabilizing demand and pricing.
Overall, the company targets PAT margins around 9%-11% in stable market conditions, though near-term PAT levels expected to remain similar to Q1 and Q2 FY24.
EPS growth aligns with profitability improvements as capacity expansions come fully online post-CAPEX.

See what Sh.Pushkar Chem. management said on margin guidance — free account, 30 seconds.

Fundraise plans

The company is not taking any bank funding or external debt for the ongoing CAPEX.
Expansion and CAPEX will be funded through internal accruals and the company's own money.
CAPEX is being phased out over the next 12 to 18 months to accelerate self-financing.
The company emphasizes maintaining a debt-free status and is currently interest-free.
No mention of any planned equity fundraising was made during the call.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for Shree Pushkar Chemicals and Fertilisers Limited. However, from the discussion, we can infer the following points related to demand and business outlook: - Business sentiment is currently conservative due to global uncertainties (e.g., geopolitical tensions, inflation in Western countries). - Demand for products, especially in dyes and chemicals, is expected to pick up gradually after a period of softness. - Capacity expansions are underway, indicating confidence in future demand growth (e.g., doubling dyes capacity at Unit-5). - The management believes in substantial growth potential despite current uncertainties. - No specific order book size or pending order details were disclosed in the call.

See what Sh.Pushkar Chem. management said on order book — free account, 30 seconds.

Capex plans

Yes

The company plans to nearly double its dyes capacity from the existing 6,000 tons per year installed capacity, currently utilized at around 65%.
Expansion work for dyes is underway at Unit-5, which has space to accommodate this growth; post-expansion, Unit-5 land will be fully utilized.
Unit-6 site development has started, focusing on the fertiliser segment, particularly complex NPKs, with approximately half of the land parcel being developed.
Total CAPEX planned across Unit-5, Madhya Bharat, and Kisan Pushkar is around Rs. 215 crores, including Rs. 80 crores towards backward integration (improving bottom-line but not revenue).
No bank funding contemplated; the CAPEX will be funded from internal accruals and phased over 12-18 months.
The company is also investing Rs. 20-30 crores in a 3.8 MW solar plant, expected commissioned by March 2024.
Fertiliser-related CAPEX (Unit-6) is expected to operationalize in FY24-25.

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Sh.Pushkar Chem. Q2 FY24 Earnings Call Analysis

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