White Organic

- There is no explicit mention of any current or planned new fundraising through debt or equity in the provided transcript. - The company has recently converted warrants fully into equity as of March 2018, indicating an increase in equity base. - Promoters intend to increase their shareholding by approximately 5% per year through creeping acquisitions but this is an internal equity purchase, not fundraising. - No clear plans for issuing new shares or raising debt were discussed during the call. - Focus appears to be on organic growth, expansion of cultivation land, and operational scaling rather than external fundraising at this point.

- The company is focused on expanding its leased farm holdings, targeting to reach 3000 acres by the end of FY2019. - Due diligence for new leased farms includes soil tests, water availability, and highway connectivity before acquisition. - Investment is being made in organic certification (ICS certification) for farms; the third-year audit is completed, and certification is expected shortly. - The company is investing in growing high-margin crops such as Aloe Vera, Moringa, and planning Palmarosa as a third product. - They are slowly expanding retail operations but focusing more on e-commerce and volume-based business. - A new pan-India e-commerce website, akin to Grofers, is planned for launch to scale up retail reach. - There is an ongoing capital expenditure in land tilling, farm mechanization, and maintaining perennial crops requiring upfront investment with gradual cost reduction over years. - Promoter intends to increase shareholding by about 5% annually, indicating possible strategic equity investment.

- The company expects continued increase in both revenues and profits going forward (Page 16). - Target to expand cultivated land from current 1360 acres to around 3000 acres by the end of the financial year (Page 5). - Plans to grow product basket with high-margin crops like aloe vera, moringa, and palmarosa (Page 15). - New export orders and certifications are expected to boost revenues, with exports currently contributing less than 10% but expected to grow (Page 16). - Improved margins anticipated post Q4 FY2019 due to increased value-added products and IC3 yields (Page 6). - Focus on volume-based business with multiple new client purchase orders expected soon (Page 6). - Intention to continue creeping acquisition of 5% promoter stake per year indicates confidence in business growth (Page 16).

- Company expects continued increase in both revenues and profits going forward (Page 16). - Expansion plans include increasing cultivated land from current 1360 acres to a target of 3000 acres by end of financial year 2019 (Page 4). - EBITDA and PAT growth expected to improve notably from Q4 onwards, with margins normalizing and improving due to better realizations post IC3 (Page 6). - New export customers lined up, pending certifications, which could boost revenues and margins (Pages 11, 16). - Promoters intend a gradual increase in shareholding, reflecting confidence in growth (Page 10). - Overall, company expects volume-driven growth along with better margin profiles from self-cultivated products (20-25% EBITDA margins vs blended 7-8%) (Page 7). - EPS has grown robustly (55% growth in 9M FY19 over FY18), and this growth momentum is expected to continue (Page 5).

- The company has lined up many good clients from the overseas market, currently in the final stage of certification and audits. - Once certifications are complete, purchase orders (POs) are expected soon. - Several POs from new clients are anticipated, not just one; the company is awaiting official confirmation before public disclosure. - There is a focus on increasing export orders, with exports just initiated in Q3; currently, exports contribute less than 10% to total revenue. - With the upcoming IC3 certification and new export orders, higher revenues and better margins are expected going forward. - The company intends to continue "creeping acquisition" of 5% promoter shareholding in the current financial year, suggesting growth plans. - Overall, the order book is expected to improve significantly post certification and approvals, with new export client orders in the pipeline.