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See FY09 sales growth at 30%: Sejal Architectural Glass
Published on Tue, Jul 01 at 22:42 , Updated at Wed, Jul 02 at 16:04
Source : CNBC-TV18
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Amrut S Gada, CMD, Sejal Architectural Glass estimates that his company’s FY09 sales would grow at 30%. The company’s EBIDTA is at par with peers, he informed CNBC-TV18.
Excerpts from CNBC-TV18’s exclusive interview with Amrut S Gada: Q: Perhaps you could start by telling us what you expect to clock in terms of sales and profits by the end of FY2009? A: Fiscal 2009 - mostly our target is to complete the float project. There will be no sale of this float division; only the sale, which will come from the processing and trading division, will be in level at what last year it was. Q: When your capacity comes on-stream; the project comes on-stream in FY010 - do you think you will be able to do Rs 100 crore in sales? A: It is a 550 tonne; that means 2 lakh 750 tonne yearly production capacity and assuming the market price to date is around 22,000 tonne - the selling price; it will be above that. Everyday is 550 tonne float project production.
Q: What do you think you might report in Earnings Per Share (EPS) both for FY09 and FY010? A: I cannot say about what can be the Earnings Per Share; our production will swing in March 2009 and 2010 will be the first year. Q: Can you tell us what kind of a market share Sejal Architectural Glass has in the market right now? What the big projects are in your hand? A: Right now we have market share in the niche architectural glass solutions project - around 25% and right now we are doing the Brigade Gateway Hospital and the Hindustan Construction Company (HCC’s realty project) and two-months ago, we have completed our Bangalore International Airport and Bombay Domestic Airport projects. Q: Just to go back to the question, which I asked you. You would do Rs 100 crore plus in sales when the full project is on, on what kind of margins on that Rs 100 crore topline? A: EBIDTA will be at par with our other peer groups and the capacity first year will be around 60% of the capacity and the business model right now - that new project is a backward integration for us. So real predictions are difficult. Sejal Architectural Subscription Details Subscribed 9.9x QIB 4.26x NII 33.18x Retail 7.96x Sejal Architectural Issue Details -Issue of 91.94 lakh shares -Issue priced at Rs 115 -Raising Rs 105.73 cr -Post-issue equity at 2.8 cr -Crisil assigned IPO grade 1/5, indicating poor fundamentals Sejal ArchitecturalIssue Objectives -Setting up of new manufacturing facility for the production of float glass -Backward integration from current processing & trading biz to mfg of float glass -Expansion of processing unit with capex of Rs 25 cr Sejal ArchitecturalCompany Info -Business of processing glass with plant at Silvassa -Moved to top five players in its segment, with 5% market share in architectural glass processing; -Currently exporting to Sri Lanka, Bangladesh, Mauritius, Uganda, Tanzania Sejal Architectural9MFY08 -Net sales at Rs 41.66 cr -OPM at 17.6% -PAT at Rs 4.69 cr
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