Analyst Meet / AGM - Analyst Meet
Expects Hyundai business to start from H2 FY'17
In interaction with Mr. Abhishek Jain, Executive Director
Key Highlights
At OP level, as per the management, there will be an either growth of around 12-13% or around 22-23% depending upon how the passenger car industry shapes up further in FY'17, rainfall geographical distribution, 7th pay commission and general confidence among the buyers.
Many new models and variants of the existing models have been planned by the passenger car industry. Already new Innova, Honda BRV among the SUV is a success. The company is catering to every new model of Honda and Maruti cars.
The business of SML Isuzu will pick up gradually going forward.
Management expects Hyundai business to start from H2 FY'17 onwards.
Margins should remain around current level with around 50 bps improvement aimed at.
The company will launch further new products and parts for new launches of the vendors. As per the management, FY'17 will be a very exciting year, as most of the vendors have planned face lifting of existing models and new launches.
There are no plans for any acquisitions. No plans to raise any funds.
The tooling business was less than Rs 10 crore in FY'16 as compared to around Rs 30 crore in FY'15. Management expects a steady run rate of around Rs 10 crore from tooling business, although this business is very unpredictable in nature.
Entire capital expenditure of around Rs 20-25 crore will be from internal accruals.
The company has swapped high interest rate loans with lower rates and hence the interest costs have come down. Working capital is also expected to remain around same level, if not improve from here. Total debt now stands at around Rs 74 crore.
The company is actively working for Hyundai and M&M for their passenger cars sealing products and molding requirements,
There are no plans for any acquisitions. No plans to raise any funds.
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