Also read: Somany Ceramics standalone Sep '13 sales at Rs 305.56 crore
Below is a transcript of the interview.
Q: Give us an idea of the kind of growth you see for the company. The company has reported a compound annual growth rate (CAGR) of 26 percent [in the past]. How will this year and the next look?
A: We have been outperforming the industry for the last three-four years and I think this year too, we would grow between 18-20 percent.
The next year looks even better because of developments in sector specifically in the Morbi region [in Gujarat where producers had gone on strike] where there a cluster of about 500 units.
So a series of developments in December acted in the favor of the branded sectors, and branded players including us would benefit from this.
Q: I believe there have been some recent placements that you have managed with big funds. Was it capital raising, can you take us through those details?
A: Yes, it was a preferential issue of shares, which is subject to shareholders approval. We raised about USD 8 million in the company and this would be for future expansion and moving up the value chain.
Q: What will it be used for, how much does your capacity expand and by when?
A: I think we are growing pretty substantially and we have added capacity of approximately 10 million sq meters already as we speak which would go on stream by approximately June or August next year.
Going forward, we would need to acquire or put in some brownfield in our plants but currently it is focused on acquiring joint venture partners to keep our growth at 20 percent plus on for the next couple of years.
That looks possible looking at the Indian scenario specifically the developments, which have happened in Morbi which is completely in favor of the branded segment.
Q: What is your EPS this year end and how might that grow in FY15?
A: I think the forecasted EPS prior to the issue was approximately 8 percent and I think next year the EPS post-issue would be around 14.5 percent.
Somany Ceramics stock price
On January 16, 2014, Somany Ceramics closed at Rs 141.60, down Rs 3.6, or 2.48 percent. The 52-week high of the share was Rs 155.50 and the 52-week low was Rs 61.00.
The company's trailing 12-month (TTM) EPS was at Rs 8.80 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 16.09. The latest book value of the company is Rs 43.70 per share. At current value, the price-to-book value of the company is 3.24.
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