PAKKA LIMITED — Call Transcript 2022

Aug 25, 2022

VflSH PAKKA P ackaging w ith a Soul

7/Govt/SE-15 23th August, 2022

The Department of Corporate Services BSE Limited Department of Corporate Service Phiroze Jeejeebhoy Towers, Dalai Street, Mumbai - 400 001

Scrip Code: 516030 Trading Symbol: YASHPPR

Ref: Schedule III, Part - A, Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Sub: Transcript of the Conference Call held on 19th August, 2022

Dear Sir/Madam,

Pursuant to Schedule III, Part - A, Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly find attached herewith Transcript of Investors Meet conducted and concluded on Friday, 19th August, 2022 at 09.30 A.M. (1ST) to discuss the financial performance of the Company for the 1st quarter ended 30th June, 2022.

The above information will also be available on the website of the Company: www.vashpakka.com.

This is for your information and record.

Thanking you,

Yours faithfully, for Yash Pakka Limited

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Company Secretary and Compliance Officer

Enel: As Above

Registered Office: 2nd Floor, 24/57, Birhana Road. Kanpur-208 OOl, Uttar Pradesh. India CIN: L24231UP1981PLC005294

Yash Pakka Limited, Yash Nagar, Ayodhya 224135 (U.P.), India +91-5278-258174 | connect@yashpakka.com www.yashpakka.com

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Yash Pakka Limited

Q-1 FY 22-23 Investors Meet Transcript Held on 19[th] August, 2022 at 09:30 AM

1

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Mr. Gopal Raju, Moderator: I think I got the message.

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Mr. Jignesh Shah, Chief Financial Officer: As.

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Mr. Ved Krishna, Vice-Chairman: soon as you finish making you put it on slideshow mode.

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Mr. Gopal Raju, Moderator: Let me know where to start so i'll.

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Mr. Ved Krishna, Vice-Chairman: begin here so as soon as he puts it on slideshow mode, we can see.

6 00:00:19.470 --> 00:00:20.280

Mr. Jignesh Shah, Chief Financial Officer: The slides.

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Mr. Ved Krishna, Vice-Chairman: Know it's still not on slideshow mode.

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Mr. Jignesh Shah, Chief Financial Officer: So my slides now.

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Mr. Ved Krishna, Vice-Chairman: slides I can see, but it's not on presentation mode.

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Mr. Jignesh Shah, Chief Financial Officer: Is actually your presentation.

11 00:00:35.970 --> 00:00:37.140 Mr. Ved Krishna, Vice-Chairman: You will have to start that we.

12 00:00:37.140 --> 00:00:38.790 Mr. Ved Krishna, Vice-Chairman: Can do the meeting without that.

13 00:00:43.050 --> 00:00:43.740 Mr. Jignesh Shah, Chief Financial Officer: You see.

14 00:00:46.020 --> 00:00:46.620 Mr. Jignesh Shah, Chief Financial Officer: Like, no, no.

15 00:00:46.650 --> 00:00:52.830 Pranay Pasricha: I can on it just in the slides to me, I think you have to share the screen.

16 00:00:52.950 --> 00:00:53.310 Just.

17 00:00:57.270 --> 00:00:57.750 Mr. Jignesh Shah, Chief Financial Officer: yeah I will.

18 00:01:00.270 --> 00:01:02.040 Pranay Pasricha: Sir doesn't share the screen.

19 00:01:12.180 --> 00:01:12.300 Mr. Jignesh Shah, Chief Financial Officer: With.

20 00:01:13.800 --> 00:01:15.780 Mr. Ved Krishna, Vice-Chairman: You you'll have to go to display settings.

21 00:01:20.070 --> 00:01:21.660 Mr. Ved Krishna, Vice-Chairman: worldly settings in the Center.

22 00:01:23.580 --> 00:01:24.750 Mr. Ved Krishna, Vice-Chairman: On the top Center.

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23 00:01:27.960 --> 00:01:30.750

Mr. Ved Krishna, Vice-Chairman: dignified display setting in the top Center.

24 00:01:30.750 --> 00:01:31.140 Is.

25 00:01:32.700 --> 00:01:37.080

Mr. Ved Krishna, Vice-Chairman: you're not There you are, your arrow is all over the map you're not in display sitting.

26 00:01:37.980 --> 00:01:39.240 Pranay Pasricha: On the top Center.

27

00:02:17.760 --> 00:02:19.950 Mr. Ved Krishna, Vice-Chairman: Why don't you make the host and he can do it.

28 00:02:27.630 --> 00:02:28.680 Mr. Ved Krishna, Vice-Chairman: yeah now it's working.

29 00:02:29.190 --> 00:02:29.610 Oh.

30 00:02:31.950 --> 00:02:32.190 Mr. Ved Krishna, Vice-Chairman: yeah.

31 00:02:38.160 --> 00:02:38.880 Mr. Gopal Raju, Moderator: Okay, thanks.

32 00:02:41.460 --> 00:02:41.910 Mr. Jignesh Shah, Chief Financial Officer: Welcome

33 00:02:42.870 --> 00:03:02.820 Mr. Gopal Raju, Moderator: Everybody welcome to Q 22-23 earnings conference call of Yash Pakka limited, I take this opportunity to welcome Mr Ved Krishna, Vice Chairman, Mr. Jagdeep Hira, Managing Director, Mr Jignesh Shah, CFO and Mr. Sachin Kumar Srivastava, Company Secretary & Compliance Officer.

34 00:03:04.020 --> 00:03:05.580 Mr. Gopal Raju, Moderator: Mr Satish ChamyVelumani.

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Mr. Gopal Raju, Moderator: Business Head of Compostable division of Yash Pakka Limited.

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Mr. Gopal Raju, Moderator: I would now like to hand over to Mr Ved Krishna for his opening remarks over to you, sir.

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Mr. Ved Krishna, Vice-Chairman: Thank you so much goodbye, and thank you listeners for joining us again for an update.

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Mr. Ved Krishna, Vice-Chairman: On this quarter.

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Mr. Ved Krishna, Vice-Chairman: and happy to have you here so sorry about the initial glitches as we were going through the setting up of slides and thankfully we got it right so again just.

40

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Mr. Ved Krishna, Vice-Chairman: repeating a few things for those who haven't been with us on calls earlier, the fundamental principle on which the company's DNA is based is singular.

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Mr. Ved Krishna, Vice-Chairman: Which is to contribute towards a cleaner planet and the focus is to create produce and spread regenerated packaging solutions, and we have to do it at scale to be able to achieve that, so the question is how do we do that yesterday.

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Mr. Ved Krishna, Vice-Chairman: So there are three broad areas, the company focuses on the first is food packaging and we've been working on multi layered substrates which are based on.

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Mr. Ved Krishna, Vice-Chairman: dense you know by dense sheet of paper but bioplastics along with it, and we are in the middle of launching this great the second has been our mainstay where we make.

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Mr. Ved Krishna, Vice-Chairman: paper for bags, but of course we are also now coming out with a mineral based Compostable fill.

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Mr. Ved Krishna, Vice-Chairman: The third is been again something that all of you have been well aware of is our food services division, which is the Compostable division, where we produce molded fiber products.

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Mr. Ved Krishna, Vice-Chairman: From bulk so the singular sharp focus remains around food and food packaging and the second part, which remains a constant with us at least now is utilizing Cuba came in order to win these products.

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Mr. Ved Krishna, Vice-Chairman: So the part of the journey which we have now undertaken and it's a significant and ambitious goal, and of course we've been presenting this.

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Mr. Ved Krishna, Vice-Chairman: As we've gone forward it's becoming more and more concrete, and of course we're going to talk into specifics.

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Mr. Ved Krishna, Vice-Chairman: As we move forward so of course we've been working on expanding the site, we will update you on what is happening in that.

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Mr. Ved Krishna, Vice-Chairman: Along with that we are also looking at building site to incite three.

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Mr. Ved Krishna, Vice-Chairman: Work has moved significantly in the last quarter in both these areas and the idea now is that how quickly, can we scale, in fact, we are looking at, there is a timeline that is presented here of 2028 we are trying to even collapse it to 2025 for both the sites.

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Mr. Ved Krishna, Vice-Chairman: To these are the key actions that we had presented even lasting on what we are working on and we will give you an update this time on what has happened in these areas.

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Mr. Ved Krishna, Vice-Chairman: So the first one is new site finalization and capital base I've talked about that in the next slide and, of course, expansion, as well as creation of new products and partnerships next thing is.

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Mr. Ved Krishna, Vice-Chairman: So these are the key updates the first one, which will be happy to know.

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Mr. Ved Krishna, Vice-Chairman: We are the final stage the bankers have already agreed this was something that was coming now and again from investors.

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Mr. Ved Krishna, Vice-Chairman: We in fact as promoters didn't realize how important it is because all the shares who basically pledged for all the loans that we had taken for the expansion of the company.

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Mr. Ved Krishna, Vice-Chairman: However, with the loans, mostly having been paid off, there was no issue and we will we are now at the final stage of release of the shares and it should be done this month or so.

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Mr. Ved Krishna, Vice-Chairman: The next is finalization of Catholics in a hotel, which has been in the offering and we've been working on it, the big.

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Mr. Ved Krishna, Vice-Chairman: news that we also put out in BSE and in the media was be finalized AFRY, which is the global project consulting company, as our partners, and they have started doing the basic engineering work.

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Mr. Ved Krishna, Vice-Chairman: And coming out with the possibilities of how big we can go, we were targeting about 210 MT expansion, they have come back and said that we might have to.

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Mr. Ved Krishna, Vice-Chairman: sort of water it down a little bit and maybe stay with 170 tons, but I think by the next time we will have our basic engineering completed and by the next time we would have also tied up the final plans and the financials for the expansion.

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Mr. Ved Krishna, Vice-Chairman: The other one, which again has been something which we are very proud of what we feel that we want to any person who works in in in the company needs to be an owner of the company.

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Mr. Ved Krishna, Vice-Chairman: And this was something we were working on, we come out came out and discuss various schemes internally, finally, we.

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Mr. Ved Krishna, Vice-Chairman: released the team stock option plan, and it provides each person working in the company with a certain amount of shares, I saw a little bit of.

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Mr. Ved Krishna, Vice-Chairman: chatter on social media on, you know how people might sell the shares, but again, one is that it's not that significant and among the first part, the second part is that know our people are very.

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Mr. Ved Krishna, Vice-Chairman: aligned to our work, plus the idea of selling can only really happen after three years, so you know it's a significant period, after which it can be sold and, of course.

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Mr. Ved Krishna, Vice-Chairman: Even if people sell the shares, it will be at a certain time, and the second part is that the shares that issue that the market price, they are not at a discounted price.

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Mr. Ved Krishna, Vice-Chairman: It is for growth from the current market right so of course you know anybody who sells will only sell once they have gained a certain amount of benefit on that.

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Mr. Ved Krishna, Vice-Chairman: This one is a big month and we've been working significantly and very, very focused on this, I have spent personally over a month in Central and South America.

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Mr. Ved Krishna, Vice-Chairman: In the last.

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Mr. Ved Krishna, Vice-Chairman: Month and a half significant period of my time meeting numerous industries countries investment agencies ministers.

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Mr. Ved Krishna, Vice-Chairman: And more or less, we are very close to finalization of new country and the new site.

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Mr. Ved Krishna, Vice-Chairman: And, of course, along with that there'd be a significant gap adobe's that will be done either through most likely through our US arm and we are already working on that as well the site will be at least 400 tons per day of probing and subsequent review added materials.

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Mr. Ved Krishna, Vice-Chairman: This is the other one which has happened, and we had taken this up about almost a year back it has taken a decent amount of time we had engaged a very, very interesting agency called have us in USA.

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Mr. Ved Krishna, Vice-Chairman: to study the market for launching our, especially at molded fiber materials there, the study has been completed, I think my colleagues that teach me talk more about it.

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Mr. Ved Krishna, Vice-Chairman: But, fundamentally, we are very clear the bromine we are going to be launching the key for us now is.

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Mr. Ved Krishna, Vice-Chairman: You know, to find the right supply chain, because till we don't have power Center we don't have partner manufacturing sites even not need to do it potential Satish would talk a little more about.

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Mr. Ved Krishna, Vice-Chairman: The last part which we are extremely proud of it, we have now created a separate subsidiary called tech, Pakka Impact Limited.

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Mr. Ved Krishna, Vice-Chairman: Which is focused completely on innovations and it is now setting up a lab in the IAC facility in Bangalore.

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Mr. Ved Krishna, Vice-Chairman: Our head has spoken to them, and now this would be a state of the art lab for creating Compostable packaging materials, and it will work, why is it a separate company is simply because we want it to not just work for our.

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Mr. Ved Krishna, Vice-Chairman: products, but also to work for the market in general, and they are already doing some great work with numerous multinationals, so I think that's it from me technician right, and I think now that the takes over.

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82 00:11:30.360 --> 00:11:30.990

Mr. Ved Krishna, Vice-Chairman: let's keep moving.

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Mr. Jignesh Shah, Chief Financial Officer: Just one second I do allow all the people individually.

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Mr. Ved Krishna, Vice-Chairman: Pranay and somebody else not do that, because that becomes.

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Mr. Jignesh Shah, Chief Financial Officer: Sorry, but we also do so.

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Mr. Ved Krishna, Vice-Chairman: So if you make me the Co host I can do it, or if you make co host was trying to do both things will be ready.

87 00:12:00.720 --> 00:12:01.200 Pranay Pasricha: yeah.

88 00:12:01.350 --> 00:12:02.640

Mr. Jignesh Shah, Chief Financial Officer: Please make me the Host.

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Mr. Jagdeep Hira, Managing Director: Initially, on the presentation worthless.

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Mr. Jagdeep Hira, Managing Director: it's not on the presentation.

91 00:12:57.780 --> 00:12:58.380 Mr. Jagdeep Hira, Managing Director: On the left with.

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Mr. Ved Krishna, Vice-Chairman: The display settings signature by again, or you guys did last time.

93 00:13:07.260 --> 00:13:09.330 Mr. Ved Krishna, Vice-Chairman: Yes, please yeah good.

94 00:13:11.340 --> 00:13:13.620

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Mr. Jagdeep Hira, Managing Director: morning all happy Janmastami to all.

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Mr. Jagdeep Hira, Managing Director: So with regards to pulp and.

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Mr. Jagdeep Hira, Managing Director: paper and manufacturing side of your day we did our highest ever top line which was 78 cr.

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Mr. Jagdeep Hira, Managing Director: Bottom Line of paper is again the highest ever.

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Mr. Jagdeep Hira, Managing Director: We could able to fetch out so business outlook as for the month if it's negative it's almost similar so that the trend in the pulp and paper industry is still upwards.

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Mr. Jagdeep Hira, Managing Director: Because of certain reasons and boats are very yes demands across global's across the globe is very high on the pulp and paper segment.

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Mr. Jagdeep Hira, Managing Director: So Bobby also good technician it's we also have what the international recognition and what a FSC certifications attached to our products, so now we can.

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Mr. Jagdeep Hira, Managing Director: spread our wings the globe as well, more apart from 46-47% right now we are doing and export much.

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Mr. Jagdeep Hira, Managing Director: So I know what to your.

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Mr. Jagdeep Hira, Managing Director: i'll hand over to Satish for Compostable.

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00:14:34.320 --> 00:14:35.550 Satish: Thank you.

105 00:14:36.660 --> 00:14:37.740 Satish: Good morning, everybody and.

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106 00:14:37.830 --> 00:14:38.790

Satish: happy Janmastami.

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Satish: just want to give a quick update on where we are going.

108 00:14:43.680 --> 00:14:45.870

Satish: So this year continues to be.

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Satish: focused on growth without compromising on the gross profit end in a profit.

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Satish: compared to last year 50% of last year's revenue has already been achieved in the first four months of this fiscal, so the growth is happening and compared to last quarter last fiscal first quarter, we are at about three.

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Satish: three of the last year for us what is revenue has been achieved in the first quarter of this year, so.

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Satish: Can next book yeah the audible countries to be very strong and because of the awareness that's been created in the market by us and quite a bit of our fellow manufacturers as well as the plastic band, this is helping us pushing towards better and stronger order book this year.

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Satish: And we are also working on.

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Satish: new products, I know, we have been working on the delivery containers in the last few quarters, and that is actually coming to fruition, we are actually producing or delivery containers in one of our partner manufacturing sites, you know we're just a peninsula and earlier and.

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00:16:07.560 --> 00:16:08.340 Satish: We have been.

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Satish: Pretty successful creating manufacturing partners, we have we have activated about three of them already.

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Satish: All of them down South and.

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Satish: We should be seeing our capacity increase of capacity, increasing considerably over the next few quarters.

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Satish: And this is something that is necessary for the time that we are operating in the entire check or the Compostable division is going through a digital transformation, where all the partner warehouses partner, businesses and.

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Satish: Our own warehouses, everything is being digital as two people, so we should.

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00:16:51.900 --> 00:16:56.490 Satish: This should result in a much better business processes.

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00:16:57.960 --> 00:16:59.010 Satish: Income festivals.

123 00:17:00.090 --> 00:17:01.950 Satish: So these are the top highlights.

124 00:17:03.390 --> 00:17:04.500 Satish: I will yeah.

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Mr. Jignesh Shah, Chief Financial Officer: Good morning, everyone and happy Janmastami.

126 00:17:13.320 --> 00:17:14.160 Last week, you all.

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Mr. Jignesh Shah, Chief Financial Officer: The results for consolidated standard financials were already.

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Mr. Jignesh Shah, Chief Financial Officer: uploaded on the website, so I think you must have all of you must have got the chance to go through.

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Mr. Jignesh Shah, Chief Financial Officer: These are some of the key points that I would like to highlight first is our revenue goes higher barrier of 6% overall paper has gone up by 8.2% mode, it was like he low compared to the previous quarter, but we catch up.

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Mr. Jignesh Shah, Chief Financial Officer: PBT was really considerably higher because in paper we add considerable price increase voting power, as well as the paper segment.

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Mr. Jignesh Shah, Chief Financial Officer: And also even able to cut down the losses on the motor side, so that has given us a slightly higher PPT and also you know the previous quarter per se was not compatible with the previous quarter end of the quarter.

132

00:18:06.090 --> 00:18:06.840 Mr. Jignesh Shah, Chief Financial Officer: possibility.

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Mr. Jignesh Shah, Chief Financial Officer: powered costumes gone of this quarter, because the prices of Peggy has, which is our private or material for our persona in we expect this to slightly go up on the main at the same level, but you know, we have taken the price increase to compensate because.

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Mr. Jignesh Shah, Chief Financial Officer: He consolidate a financial reserves, which are also uploaded has got an impact of around one road, of course, coming from the US absolutely, of course, as explained by at the venue would start coming.

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Mr. Jignesh Shah, Chief Financial Officer: In future, right now, it's a building phase, the expenses that we put in the US absolutely will get.

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Mr. Jignesh Shah, Chief Financial Officer: Set up against the profits that you're making me.

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Mr. Jignesh Shah, Chief Financial Officer: As a producer but these are the key financial highlights for department, of course, the match was really Pluto and i'm not much of.

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Mr. Jignesh Shah, Chief Financial Officer: The moment in terms of the numbers that these, I think we end up presentation for the quarter one and we'll be happy to take questions I stopped my s3 chatting now in ask all the investors to put their questions one by one.

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Pranay Pasricha: yeah so request investors to press the raise hand button and put up their questions one by one.

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00:19:27.270 --> 00:19:30.330 Pranay Pasricha: So we have a question from.

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Pranay Pasricha: Mesa we knew what was buggies camino movies, you can go ahead with your question.

142

00:19:37.230 --> 00:19:37.680 Vinu Varghese: hi.

143 00:19:38.730 --> 00:19:39.150 Vinu Varghese: Good morning.

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Vinu Varghese: and congratulations 13 for excellent numbers.

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Vinu Varghese: I just want to know, because the the last investor presentation, it was said that the profit before tax target for the year is hundred across our history, confident that you will be able to achieve that number.

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Mr. Ved Krishna, Vice-Chairman: Yes, we are definitely working towards that the challenge still remains the numbers setting the pulp and paper is more or less on crack.

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Mr. Ved Krishna, Vice-Chairman: The challenge remains numbers from the Compostable division, as you heard that the show.

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Mr. Ved Krishna, Vice-Chairman: There is significant changes coming the in terms of capacity we've already started one partner manufacturing site and, as I mentioned, there will be two more coming in line, hopefully, in the next quarter.

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Mr. Ved Krishna, Vice-Chairman: So, within if that happens, then we will have a almost you know we significantly increasing our capacity so that should definitely result and if not, it will be quite near that number, by the end of the year.

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Vinu Varghese: Great once one more question of it, so in that case, if the three.

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Vinu Varghese: Partnerships turn out to be successful, then we can expect that October tomato right.

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Mr. Ved Krishna, Vice-Chairman: Yes, that it's been a challenge, where the it's the fishes laughing that's the that's the we've already started that production so Thankfully there those materials are rolling out cities, would you like to comment on that you are near the.

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Satish: is absolutely.

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Satish: The products are starting to allow products look great they work well.

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Satish: We know it's a great question will we be getting back in partnership as a matter that's that's.

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Satish: always on the on the cards and they get up there's close association that's happening between us, as a matter of.

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Satish: So that's the goal, but we don't want to barge in yet primarily because when when, as a matter of comes in it's not a question of if it's definitely a question of when.

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Satish: when's the metal comes in the volumes are going to be really, really high, and we want to be absolutely sure that we have the capacity to ready to cater to that demand, so it will happen.

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Vinu Varghese: Good rock one last question.

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Vinu Varghese: When can we expect the commercial production of the flexible packaging, I know that your whole crack the code for the flexible packaging, so when can we expect the commercial production to launch.

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Mr. Ved Krishna, Vice-Chairman: I think the commercial production is about, we are doing some contract manufacturing just to tell you, so there is a certain commercial run that is happening, even in the next month, but it will not be it's still.

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Mr. Ved Krishna, Vice-Chairman: it's still one to one within you know, there is a there are two companies that are doing trials market trials with the products, and we are doing partner manufacturing with them.

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Mr. Ved Krishna, Vice-Chairman: For us to do at scale manufacturing, we are still going through the modifications, and I think that people could you say a year and a half from now for for you to actually roll out flexible packaging material.

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Mr. Jagdeep Hira, Managing Director: on for almost.

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Mr. Ved Krishna, Vice-Chairman: By the end of next year, so so yeah about December of 2023 is when we can do it at scale.

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Mr. Ved Krishna, Vice-Chairman: Is what.

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Mr. Ved Krishna, Vice-Chairman: We would look at, but That said, you know the actual commercial ones are going to start within the next month month and a half.

168 00:23:07.560 --> 00:23:09.180 Vinu Varghese: Okay, thank you, thank you and.

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169 00:23:09.360 --> 00:23:09.630 Linda.

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Pranay Pasricha: Thank you have a question, Mr glider you have a question, you can go.

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Gaurav: With a bit of update on the US side if you can provide that notice the status of fundraising there and second question to satish what is the kind of turnovers are you targeting for the year on the model, a product side, thank you.

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Mr. Ved Krishna, Vice-Chairman: Yes, absolutely so us, of course, has been like the absolute flurry in the last quarter, I would say lots of work happening on the site.

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Mr. Ved Krishna, Vice-Chairman: Broadly, three areas which I mentioned in the last meeting as well, the first and foremost remains global expansion.

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Mr. Ved Krishna, Vice-Chairman: So we have more or less finalized the country now we are in the middle of finalizing the relationships with the suppliers which are super companies.

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Mr. Ved Krishna, Vice-Chairman: I think we've already appointed a gentleman as the key person in that country and the types are the conversations, so of course.

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Mr. Ved Krishna, Vice-Chairman: We are hoping, at least, that in the next month, we should be able to sign some contracts, so we are creating a two way sort of buffer one is the raw material.

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Mr. Ved Krishna, Vice-Chairman: Long term maybe five to 10 year contracts and the second is finished goods contract, so we are also talking to numerous buyers who have been working with us.

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Mr. Ved Krishna, Vice-Chairman: To give us confirm the letter of intense for picking up of the materials that we are creating for them now so with those to enhance we've started talking to about four to five strong.

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Mr. Ved Krishna, Vice-Chairman: partners for funding they seem to be very confident, I actually have a very strong possibility to finish the time tomorrow actually very, very bottom callers there.

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Mr. Ved Krishna, Vice-Chairman: So again, we are working on it and so that's the first part, the second, of course, is the outsourcing what.

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Mr. Ved Krishna, Vice-Chairman: satish was talking about, we are also looking at outsourcing partners in US or in Mexico to create a product for launch and us.

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Mr. Ved Krishna, Vice-Chairman: As I said in my presentation we've already completed the market study we know exactly what the products are that we want to launch.

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Mr. Ved Krishna, Vice-Chairman: Now, the key is, you know how do we create those products and the key has the The challenges are to make sure that pulp availabilities there.

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Mr. Ved Krishna, Vice-Chairman: So in India, we have limited availability and I don't think we'd be able to transport because it's all taken with an index, so we are thinking about creating another site.

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Mr. Ved Krishna, Vice-Chairman: Apart from the Central America side.

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Mr. Ved Krishna, Vice-Chairman: for feeding of bulk so just depends on how quickly we can tie up the pub so that's for the outsourcing.

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Mr. Ved Krishna, Vice-Chairman: And the third part of courses further types of collaborations where we are working on numerous R amp D kind of.

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Mr. Ved Krishna, Vice-Chairman: partnerships and that carries on.

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Gaurav: Sorry follow up what kind of fundraise will it be, will it be debt or equity.

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Mr. Ved Krishna, Vice-Chairman: too early to say so, I think, experts are coming in we've never we are.

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Mr. Ved Krishna, Vice-Chairman: We are like you know if we think about the projected figures, we are still about a $50 million company.

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Mr. Ved Krishna, Vice-Chairman: And we're talking about raising you know upwards of 200 million, so we we we have large goals and large ambitions and just the spirit to be able to do it and thankfully, the people are.

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Mr. Ved Krishna, Vice-Chairman: feeling that, yes, it can be done so, so I think let the experts coming, yes, we have some ideas on how to do that without dilution, it is not no dilution in the in the mother company.

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Mr. Ved Krishna, Vice-Chairman: But I think the experts would come in, and I think it's better to talk about it, once we have more clarity on exactly how it's happening, what I can tell you is guess.

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Gaurav: so sure you will have some clarity, maybe end of this quarter some sense.

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Gaurav: For sure.

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Mr. Ved Krishna, Vice-Chairman: For sure absolutely absolutely I think that that I can come in that end of this quarter hopefully they will be news out for that, if not, then yes.

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Gaurav: Thank you, maybe some issue in obtaining.

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Satish: yeah so thank thank, thank you for that question, compared to last year we.

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Satish: are aiming at.

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201 00:27:32.310 --> 00:27:33.120 Satish: three x.

202 00:27:34.470 --> 00:27:40.710

Satish: Revenue this year, so we should be getting anywhere between, say at first.

203 00:27:42.810 --> 00:27:44.820 Gaurav: And, and you have to be profitable now.

204 00:27:45.210 --> 00:27:45.660 Hopefully.

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Satish: The plan is to become profitable definitely breaking in or getting very close to breaking even if not becoming profitable as as Wade said, there are multiple.

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Satish: initiatives that have been taken up by the team primarily on capacity acquisition new products and getting into newer markets right, as I said, the The goal is growth.

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Satish: And, and we would definitely want the top line to breach, and of course of hopefully the early next year, if not this year and.

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Satish: We you know we are pushing hard towards it i'm not saying that we're not focused on profitability profitability.

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Satish: is always our they say we are keeping a closer eye on the profitability.

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Satish: But i'm not promising huge numbers, we will definitely getting very close to breaking in if not a small profit.

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Gaurav: Thank you.

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Pranay Pasricha: yeah Finally I think to that question is it, Mr centric model with Chad is when chuck will be profitable, so I think for the real question is already answered.

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Swatantra Kumar: yeah Good morning, this is open for your actually have a question with the weights are.

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Swatantra Kumar: In 2017 basically when he visited the BSC said about lot of things about the bar for consistent if you see on 17 quarters took is actually going in the last.

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Swatantra Kumar: So, like sometime I don't understand where exactly we are making laws and how, because if you're selling a product manufacturing the product.

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Swatantra Kumar: Where exactly the law system, I understand the concept but i'm not satisfied with this, can you please elaborate more so because earlier, you had a issue with the machine and you said that you have to modify the machines order 200 extra you know put but still we are at the same place.

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Mr. Ved Krishna, Vice-Chairman: I think the challenge remains the same, it is not the challenge hasn't changed, as he said in his presentation, the market demand is very strong.

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Mr. Ved Krishna, Vice-Chairman: We don't have any challenges on that side anymore initially it could have been you know if we're still trying to influence the minds, but with the plastic bag coming in.

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Mr. Ved Krishna, Vice-Chairman: The more awareness sort of pricing in the market, the demand is a non issue right now we have to be able to, in fact, the only thinks that he has a good problem of.

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Mr. Ved Krishna, Vice-Chairman: Being being able to build a supply chain, rather than the challenge has been the same since the beginning, we chose a technology not.

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Mr. Ved Krishna, Vice-Chairman: Go do the levels of efficiency that we deploy desert and profitability, we have raised it from say about 30% 50% but ideally for significant profitability on the.

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Mr. Ved Krishna, Vice-Chairman: On the overall on the manufacturing and the overall profitability will come from the machines, as we go to 60 to 70% That said, I know that deep and the team are.

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Mr. Ved Krishna, Vice-Chairman: working really hard they continue to do it it's not been an easy journey but getting close to improvements and then taking it to the level of about 60% in the next couple of quarters deep do you want to add anything, or do you think that's sufficient.

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Mr. Jagdeep Hira, Managing Director: And I think right now we are operating at around 33% of efficiencies and breakeven would be around 60% and we we have done some modifications to.

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Mr. Jagdeep Hira, Managing Director: get into this quarter and the next quarter, so we we are pretty full fruition, what we have that so that slack these third parties should have that.

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Mr. Jagdeep Hira, Managing Director: Even outing the losses will be authentic.

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Mr. Jagdeep Hira, Managing Director: So.

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Mr. Jagdeep Hira, Managing Director: These are some some of those should be taken by the p.

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00:31:47.970 --> 00:31:48.960 Swatantra Kumar: O clock good.

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Mr. Jagdeep Hira, Managing Director: Along with the sales side also we are looking at the pricing, because we didn't put pricing, so that will also ECHO.

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Swatantra Kumar: And so, one more last question, Sir, as an investor, we also prefer to have the.

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Swatantra Kumar: stock prices going up for consistent two years the prices at one place, it is a 90 rupees So if you see the other paper companies, they have rows of like four X four X.

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Swatantra Kumar: But if I lost the question the answer will be that we don't have anything to do with the stock price right, so the price is there only for two years, what we are what is a dividend of.

236 00:32:30.810 --> 00:32:31.320 Swatantra Kumar: two to four.

237 00:32:31.500 --> 00:32:31.920 Swatantra Kumar: is like.

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Swatantra Kumar: So do we have anything to look after towards the pricing side as well.

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Mr. Ved Krishna, Vice-Chairman: You buy more certain buy more shares that you go.

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00:32:42.840 --> 00:32:43.650 Swatantra Kumar: sure that you feel.

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Mr. Ved Krishna, Vice-Chairman: We can we can give you transparency, we can give you performance, we can give you, you know, the outlook, we can give you direction.

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Mr. Ved Krishna, Vice-Chairman: But beyond that you know, we are not in control it's it's basically confidence of the investors, the end you know, there are people here who of course have confident people like you.

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Mr. Ved Krishna, Vice-Chairman: who have enormous confidence in us and have been investing and I think as the confidence rises, as we probably announce more of our work and the market sees it.

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Mr. Ved Krishna, Vice-Chairman: You know that is going to raise me, of course, we are also keen that the market.

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Mr. Ved Krishna, Vice-Chairman: Overall, the market capital goes up it helps us with our ventures, you know if he had to launch bigger ventures we're talking about raising huge funds it helps us significantly, we have a larger market CAP, but That said, you know, the focus is business performance, for us as a team.

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Swatantra Kumar: Okay, so thank you so much for your.

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00:33:39.570 --> 00:33:40.410 Swatantra Kumar: clarification.

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Swatantra Kumar: And my best wishes in epogen must go to TIM, yes, thank you.

249 00:33:45.660 --> 00:33:46.080 Mr. Ved Krishna, Vice-Chairman: Thank you.

250

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Pranay Pasricha: Thank you, Sir, thank you, Mr ongoing you have a question, you can go out with them.

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shivang goel: Yes, thank you, so my question is a little too Compostable divisions only so the thing is.

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shivang goel: That we are an integrated company, we have power sources by fuel and we were the first ones in this division and some are, as you have explained also that we have not been able to do it effectively because basically.

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shivang goel: We will talk, how are other players able to manage that situation or.

254 00:34:27.090 --> 00:34:27.330 shivang goel: Other.

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shivang goel: peers are also facing challenges and, if so, then how with the.

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shivang goel: Checks will go.

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shivang goel: down this vermonters shrink only.

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shivang goel: Because if.

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shivang goel: Someone we make for us and we have to redistribute it to the market, the margins will shrink so current if we cannot be there's not much margins and how we are going to.

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shivang goel: achieve that so The thing is, we are focusing, we have created a great brand chuck but on the business side of it should our main focus be there, so much.

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Satish: I i'm sorry we lost quite a bit of that I think there's a little bit of noise that came in, but if I understand correctly, being a first mover and also being an integrated manufacturer, why are we not commanding higher margins, is that.

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shivang goel: Yes, yes, yes, yes, and how the franchisee thing will ensure the data margins are stable, or at least we make profits, because ultimately we will sell downhill distributed products, so how it will help us in securing.

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Satish: Thank Thank you rhonda was a fantastic question so.

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Satish: Yes, we are integrated manufacturer and with multiple advantages insight the entire value stream, if you will.

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Satish: However, being a first mover has its own advantages and disadvantages right so there's there's a lot of.

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Satish: Things that be, not the hard way and.

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Satish: We are actually you know, probably, we are the number one.

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Satish: Especially in terms of the brand in terms of.

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Satish: Customer perception.

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Satish: We definitely are getting there, which is adding to.

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Satish: commanding a better pricing in the market.

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Satish: However, we you know we can be the apple yet yet primarily because the market is just warming up.

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Satish: For the last 40 years the team has done a fantastic job of creating a great brand and now we see that coming to fruition right.

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Satish: While the market does has always been comparing ourselves to plastics they've always said or Compostable as, as always, you know, two X three x frasier.

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Satish: Which is not the case, anyway, but now they're saying look it's it's not the price that that wants us to go towards Compostable it's the.

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Satish: it's the product is to care for Mother Nature that's one people dwarfs Compostable right and the plastic ban is adding to it so now's the situation where you would see pricing going up slightly margins.

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going up slightly.

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Satish: And our entire advantage of being integrated manufacturer coming to.

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Satish: For lack of better words fruition, you will see that happening over the next two quarters right that's the reason why i'm saying you know we will definitely getting closer towards breaking even if not even making a profit.

280

00:37:48.660 --> 00:37:50.520 Satish: I hope that answered your question.

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shivang goel: yeah yes sure just one more thing on the funding side that whatever plans, I think, in the next six months, we will be taking for the capital mix, we will be.

282

00:38:02.970 --> 00:38:03.690 shivang goel: Taking so.

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shivang goel: As 13 knows that we have gone through a challenge period in 2012 to 13 or maybe that so we learned the hard way that don't.

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shivang goel: have much debt and books, so those sort of caution really that whatever will do the capital structure should be stables, three and six months because matter basically we are eight or six months, but the capitalist should be appropriate, we should not get into it at that.

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Mr. Ved Krishna, Vice-Chairman: Thank you sure man that's very nice of you and thankful for that.

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Pranay Pasricha: Okay, thank you, Mr sandy bogus you can go ahead with your question.

287

00:38:53.430 --> 00:38:54.780 Sandeep Verghese: hi thanks for time.

288 00:38:56.040 --> 00:39:01.110

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Sandeep Verghese: So I think this is, this is a question from Troy for you, for me to better understand your business.

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Sandeep Verghese: When I look at what you're trying to do in abroad versus what you're trying to do in India right, so I have to present this is the first one, when you when you look at across India.

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Sandeep Verghese: Five years now, or maybe three years now, for two years now, whatever timeline is acceptable to you what does this business look like what is what is yes, look like across India.

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Sandeep Verghese: And the and the, you know us or wherever the next geography is.

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Sandeep Verghese: What does that look like say 235 years whatever time me, what does it look like.

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Mr. Ved Krishna, Vice-Chairman: it's a great question I don't know how much of this i'm supposed to reveal, so I don't know teenage favor during my neck for this, but you ask a direct question.

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Mr. Ved Krishna, Vice-Chairman: I have to give your direct answer So what we are working on as a team is in the next seven years, which is 2013.

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Mr. Ved Krishna, Vice-Chairman: is to grow from 50 million to 1 billion that's the internal target the I showed a slide earlier, which actually spells that out, it is spread across three sides what we fundamentally feel is that.

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Mr. Ved Krishna, Vice-Chairman: We are here for a purpose, the purpose is how do we contribute towards a Tina planet, the only way we can make a significant impact as we build businesses scale, otherwise we can create good amount of noise but.

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Mr. Ved Krishna, Vice-Chairman: You know the world will not change, but that noise, we have a certain amount of experience that we have gathered in the last 40 years in terms of how to use sugar cane.

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Mr. Ved Krishna, Vice-Chairman: Waste and convert it to value added materials and, of course, you know we're launching a couple of other products within the next year or so.

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Mr. Ved Krishna, Vice-Chairman: To be able to impact the food packaging food service and food gallery space Those are the three spaces, where.

300

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Mr. Ved Krishna, Vice-Chairman: there's a maximum there's maximum amount of single use non renewable materials, so we are wanting to create biomaterials at the scale and at the pricing.

301

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Mr. Ved Krishna, Vice-Chairman: Where we can significantly impact without causing any change of convenience for the consumer.

302

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Mr. Ved Krishna, Vice-Chairman: that's basically the way we see it is significant growth in this level products, so the first part is, what are the base level products.

303

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Mr. Ved Krishna, Vice-Chairman: So, we feel that food packaging, we want to create a great substrate for flexible packaging, which is basically currently working on shampoo sachets but looking at not packaging potato chip packaging, etc, potato chip little more difficult because the lower cost.

304

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Mr. Ved Krishna, Vice-Chairman: But, looking at that substrate, then that is being launched the second is food carry the tweet booth through our paper materials, but also looking at.

305

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Mr. Ved Krishna, Vice-Chairman: An innovative material that you buy what you do that, you created in the last year and looking to commerce should be launched that and Kurt, of course, so he has been speaking about.

306

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Mr. Ved Krishna, Vice-Chairman: The idea of outsource manufacturing and creating a bigger impact through molded fiber so that's the basic roadmap, the idea is how do you grow up to 200 tons JP.

307

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Mr. Ved Krishna, Vice-Chairman: has just gone through a certain amount of study, and it may not be 200 maybe 171 75 that's Okay, you know can be compensated by side to incite three at about.

308

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Mr. Ved Krishna, Vice-Chairman: Three to 500 kind of fans if we do that, then we have significant scale and with these three product lines we feel we can at least aspire.

309

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Mr. Ved Krishna, Vice-Chairman: towards that goal, so it's a it's an ambitious 28 score growth that we're looking at, and we will work what our chairman says, you know you can.

310

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Mr. Ved Krishna, Vice-Chairman: You cannot give up, you can die try, so we will definitely not leave any stones unturned towards that aim.

311

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Mr. Ved Krishna, Vice-Chairman: let's see everything else, we find that the universe ready collaborates when we put things out and that's what we've been doing and.

312

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Mr. Ved Krishna, Vice-Chairman: opportunities are coming people are coming buyers are coming and answers are coming so that seems to be our journey and we're ready enjoying the process as a team, so thank you, thank you for that question.

313

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Sandeep Verghese: I thought that most appreciated this Apollo one is.

314

00:43:09.660 --> 00:43:18.180

Sandeep Verghese: Now all that timeline right decisions, I mean i'm trying to understand the more that you're trying to create for yourself, so we can better appreciate.

315

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Sandeep Verghese: You know how the eventual goal will be achieved, I totally appreciate that know the competitive landscape there's only so much you can tell us, but whatever you can do to help me better understand the other.

316

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Sandeep Verghese: Side so yeah I didn't understand the.

317

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Mr. Ved Krishna, Vice-Chairman: question.

00:43:33.780 --> 00:43:39.510

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Sandeep Verghese: So i'm just trying to i'm just trying to understand what kind of more you guys would create for yourself.

319

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Mr. Ved Krishna, Vice-Chairman: Right, but we know what the decree mo.

320

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Mr. Ved Krishna, Vice-Chairman: mo mo.

321

00:43:45.360 --> 00:43:46.710 Sandeep Verghese: mo atheists yes.

322

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Mr. Ved Krishna, Vice-Chairman: What does that mean in this.

323

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Sandeep Verghese: Reference so when you're when you're building a package of related product or packaging solutions for the general market.

324

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Sandeep Verghese: Right, you will have competitors coming in all shapes and forms or right either within the geography or operating in or by importing it from somewhere.

325

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Sandeep Verghese: Right so in your in the vision that you just described right, how will you sort of safeguard yourself or other like, how do you see building in those safeguards as you go forward, given that people will sort of come in from all angles.

326

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Mr. Ved Krishna, Vice-Chairman: I truly believe in survival of the fittest so I don't think and somehow, at least in my vision it doesn't come into sort of that sort of.

327

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Mr. Ved Krishna, Vice-Chairman: The importance level for so called competition and the body around that doesn't arise so much, we have to be good at what we really need to and then that is what.

328

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Mr. Ved Krishna, Vice-Chairman: excellence is all about so for us, the key is that how effective, we are in deploying what we are trying to do, of course, you know the generic ideas of ips et cetera et cetera there.

Page 32 of 43

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Mr. Ved Krishna, Vice-Chairman: But we have to keep being in service of our larger vision which is to contribute towards a cleaner planet and if we are if we are ultimately looking at.

330

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Mr. Ved Krishna, Vice-Chairman: That, then, many times, we cannot keep the technology closed as well, so, so I don't think we will be looking at that, yes, we will be looking at our competitiveness, so how close we are to buy gas source how close, are we to a market.

331

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Mr. Ved Krishna, Vice-Chairman: how effective our products, those are the basics of business and then and for contribution so Those are the things we would look at and we actually welcome.

332

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Mr. Ved Krishna, Vice-Chairman: competitions collaboration and I find you know this whole journey of biomaterials is very rewarding and we're finding more collaboration than competition.

333

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Mr. Ved Krishna, Vice-Chairman: So you know, so the people you would typically say competition we do a lot of work, along with them, so any supplier in India.

334

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Mr. Ved Krishna, Vice-Chairman: Have molded fiber buy in bulk from us so so you know, so if we don't make money on the molded fiber we do make some money on purpose so you know so it's a.

335

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Mr. Ved Krishna, Vice-Chairman: it's where we are competent and, of course, you know, we should only survive if we're.

336

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Mr. Ved Krishna, Vice-Chairman: If we are not competent, then you know it's better if somebody else does it so so this I know this is a long winded answer, but the basic idea is that we don't.

337

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Mr. Ved Krishna, Vice-Chairman: We think of it more as collaboration and how what we can do together rather than get too worried about who will be, we will keep working on our competence and creating a business structure that enables that growth.

00:46:24.930 --> 00:46:32.550

338

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Mr. Ved Krishna, Vice-Chairman: But That said, you know, like i'm sure people will come in and we'll welcome them with open arms, it makes us more effective at competitive and AJ.

339

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Sandeep Verghese: Thank you so much, and just a final sort of observations before I have more dot notation so request you know.

340

00:46:39.390 --> 00:46:40.230

Sandeep Verghese: Since.

341

00:46:40.260 --> 00:46:46.800

Sandeep Verghese: We are trying to better understand your business whenever you're leveraging a quarterly presentation, or you know your annual report.

342

00:46:47.310 --> 00:46:53.970

Sandeep Verghese: Just help us maybe connect the dots better across what y'all are doing it's just a sedation i'm not saying that the current.

343

00:46:54.870 --> 00:47:06.840

Sandeep Verghese: Material does not provide it at this thing this help us to keep a close eye on providing that that story those connects in those results, and then you know we are, we are in a better place to appreciate your business right Thank you so much, we.

344

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Mr. Ved Krishna, Vice-Chairman: Keep we keep trying we do try to be as transparent and clear, as we can, but i'm sure, such as taking notes and, as we are preparing our annual report now and it's a process where we pay a lot of attention, so I hope that it will come out to your expectations.

345

00:47:21.600 --> 00:47:22.710 Sandeep Verghese: Thank you so much for your time.

346

00:47:24.750 --> 00:47:28.920

Pranay Pasricha: Thank you sandy next question is from Captain Vishal Sharma.

347

00:47:31.140 --> 00:47:33.540

Pranay Pasricha: That So if you can go ahead with your question.

348

00:47:34.710 --> 00:47:35.370 hi good morning.

349

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Capt. Vishal Sharma: My question is for Satish.

350

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Capt. Vishal Sharma: Saying.

351

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Capt. Vishal Sharma: You know you're looking at breaking even in some time.

352

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Capt. Vishal Sharma: For us to quarters, I would like to understand, in spite of you know, designing a product which is fantastic, as I have no doubts that the product was fantastic, I have asked this question previously also i'm from Mumbai and.

353

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Capt. Vishal Sharma: You know I have seen at five nine restaurants, I feed somewhere, we have you know lack or not done enough market.

354

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Capt. Vishal Sharma: For this product service so, can you please tell me how you intend to break even and what are your plans for marketing because I strongly feel that the product has not been marketed enough.

355

00:48:23.400 --> 00:48:25.920

Satish: happened Michelle Thank you very much and good morning to you as well.

356

00:48:28.980 --> 00:48:33.390

Satish: The one of the reasons why as a consumer, we do not see.

357

00:48:35.220 --> 00:48:36.660 Satish: A lot of buzz around.

358

00:48:36.690 --> 00:48:40.020

Satish: chuck is because the focus is predominantly on B2B.

359

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Satish: Right, and that is the very same reason why you see.

360

00:48:44.460 --> 00:48:47.010 Satish: Chocolate fine dining restaurants, as well, so.

Page 35 of 43

361 00:48:49.170 --> 00:48:51.600

Satish: Again there is there is sufficient amount of.

362

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Satish: effort that goes into marketing, especially towards B2B customer, which continues to be our focus right yes there's a lot of buzz that we can create when we go to direct to consumer.

363

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Satish: which we try to spell it early this year, however, that takes different DNA right and we have, we were not wired to do that.

364

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Satish: To be very honest right, so we shifted focus back to I mean we never.

365

00:49:21.990 --> 00:49:33.360

Satish: We never shifted focus into consumer cypher we put more focus on be to be there's again the marketing that we do for businesses is quite different than what.

366

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Satish: Consumer marketing would look like right, if you look at any of the events we spend quite a bit of time and money on participating and making even successful we get fantastic leads.

367

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Satish: There is quite a bit of.

368

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Satish: PR that is being done around check if you have noticed.

369

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Satish: So the marketing the mode of marketing that we do for checklist quite different and that's one of the reasons why you may feel like look there's not a lot of marketing that's actually happening right which.

370

00:50:11.880 --> 00:50:16.380

Satish: Again, because it's it's predominantly business to business for first.

371

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Capt. Vishal Sharma: Okay.

Page 36 of 43

372

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Capt. Vishal Sharma: My second question is there, there have been rumours in the market, I don't know how true, it is so that's why term it as aroma are we looking at something sometimes it nicely as in perhaps.

373

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Capt. Vishal Sharma: You know, making a package of man, he is or ourselves because I remember in one of the interviews have with with one of the business shannon's he had said that there is some things.

374

00:50:49.530 --> 00:51:03.900

Capt. Vishal Sharma: aren't oh wherein you know you, we are looking at, but I have one of these FMCG giants for making paper packaging since Sep is in place that somebody was plastic man is in place, so can you highlight more on this.

375

00:51:05.160 --> 00:51:09.060

Mr. Ved Krishna, Vice-Chairman: We work very closely with nestle we've been doing that for years, in fact, our.

376

00:51:09.780 --> 00:51:19.260

Mr. Ved Krishna, Vice-Chairman: One of our innovation hits alexi was X nestle and went back to nestle after working with us so that also created a close link it's an amazing company to work with.

377

00:51:19.950 --> 00:51:31.680

Mr. Ved Krishna, Vice-Chairman: We worked with their Maggie points in India for chuck you know so that has also happened we are currently working on a project with them, yes it's still under NDA and you know our innovation arm is working with them.

378

00:51:32.670 --> 00:51:39.750

Mr. Ved Krishna, Vice-Chairman: That said, yeah I don't think it's going to be that much of Maggie sort of packaging it's a very low cost kind of.

379

00:51:40.500 --> 00:51:58.380

Mr. Ved Krishna, Vice-Chairman: substrate, it is not yet in our horizons that's and we will see how are two of our product lines on food Gary and flexible packaging evolves, it is an easier packaging to make but it's also very low cost packaging to make so basically, that is what.

380

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Mr. Ved Krishna, Vice-Chairman: The story is yes, we are working now it's very interesting that we are working with numerous large.

381

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Mr. Ved Krishna, Vice-Chairman: You know I may have mentioned one today, we are working with many so so that's the big difference, right now, so it's been a very interesting journey where.

382

00:52:15.030 --> 00:52:20.820

Mr. Ved Krishna, Vice-Chairman: People are coming to us and, of course, we are very excited about our subsidiary pack i'm back now, which is.

383

00:52:21.330 --> 00:52:30.480

Mr. Ved Krishna, Vice-Chairman: Situated out of my see in Bangalore where we will be building numerous products, along with many of these giants, and you know they taking.

384

00:52:30.900 --> 00:52:40.500

Mr. Ved Krishna, Vice-Chairman: Recognition of our little ability and my colleague saga results on the call and he's sort of leading that and yeah we are hoping to make that.

385

00:52:41.100 --> 00:52:52.680

Mr. Ved Krishna, Vice-Chairman: shift slowly and evolving those products but That said, you know, like as soon as there's a large enough announcement, do you see it in the in the the some sort of media.

386

00:52:54.750 --> 00:52:56.370

Capt. Vishal Sharma: All right, just a follow up to that.

387

00:52:56.970 --> 00:53:04.320

Capt. Vishal Sharma: I completely agree that it's a low cost product, but we have to also understand the volumes, in this case, could be phenomenal as.

388

00:53:05.100 --> 00:53:06.210

Capt. Vishal Sharma: You know the kind of.

389

00:53:07.650 --> 00:53:19.710

Capt. Vishal Sharma: Sales a Maggie or a pastor from nestle has all the kind of sales all these networks from an ITC or another FMCG have we can seriously look at phenomenal volumes.

390

00:53:22.770 --> 00:53:24.060

Mr. Ved Krishna, Vice-Chairman: yeah absolutely fully aware.

391

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Pranay Pasricha: Thank you for the question next question is from St Louis hang on jack what is the current market share of chuck as compared to others.

Page 38 of 43

392 00:53:42.630 --> 00:53:43.380

Satish: Well that's a.

393

00:53:44.940 --> 00:53:54.270

Satish: that's a harder number to put our fingers on, but I can guarantee you that we are definitely in the top one or two.

394

00:53:55.590 --> 00:53:57.900

Satish: Yes, there are lots of players that have come in.

395

00:53:59.010 --> 00:54:03.750

Satish: As you could see we are our growth is also double if not triple over the last.

396

00:54:05.370 --> 00:54:10.860

Satish: few months, so the demand is increasing our presence is increasing, and we are continuing to.

397

00:54:11.760 --> 00:54:25.650

Satish: expand our capacity by a partner manufacturing partnerships, and this will definitely pushes if i'm going to say pushes back this will definitely ensure that we retain the number one position in India.

398

00:54:29.910 --> 00:54:41.730

Pranay Pasricha: Thank you for that question next question is again on chat from Mr Allah what is the actual impact of single glass a single use plastic ban on Compostable business and as the plastic man here to stay.

399

00:54:42.600 --> 00:54:51.330

Pranay Pasricha: He has another question, I believe, can you give a breakup of the approximate valid for ongoing financial year business unit was.

400

00:54:55.050 --> 00:54:56.220

Satish: i'll take the first question.

401

00:54:57.420 --> 00:55:00.930

Satish: The the impact of single use plastics again it's.

00:55:03.360 --> 00:55:15.870

402

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Satish: i'm not i'm not convinced that it's crystal clear because yes at the PR level a PC single use plastics are 100% band, but at the ground level there's still.

403

00:55:16.800 --> 00:55:34.260

Satish: quite a bit of usage right um has this impacted in a positive way for check certainly yes, as I started the presentation earlier our our audibles are really strong and our volumes, as well as revenue has.

404

00:55:35.640 --> 00:55:43.530

Satish: doubled tripled if you will right so there's there's the impact is it there to stay for sure.

405

00:55:45.060 --> 00:55:56.160

Satish: We have been talking to multiple bureaucrats in the ministry and there's definite of action that is being taken in fact we were invited to.

406

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Satish: advise the study group that is looking at implementing or insurance or enforcing.

407

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Satish: The single use plastic bags across the country, and there is intent, I want to say definitely there is intent from the government side.

408

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Satish: With that, I would say yes, the single use plastic bag is here to stay.

409

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Satish: Where you might want to take our.

410

00:56:26.580 --> 00:56:28.170

Mr. Ved Krishna, Vice-Chairman: technical team as far as the.

411

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Mr. Ved Krishna, Vice-Chairman: Division goes I would.

412

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Mr. Ved Krishna, Vice-Chairman: Despite what's the pH is feelings are I would hope that it will be 90% back on paper at 10% Compostable in the Prophet mix that is what we put together.

413 00:56:45.900 --> 00:56:48.240

Pranay Pasricha: next question is from Mr they should have one.

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414 00:56:48.450 --> 00:56:51.510

Pranay Pasricha: What is the capacity utilization on paper side.

415

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Mr. Jagdeep Hira, Managing Director: On the pulp and paper said, we are operating it above 97% of the best utilization books.

416

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Mr. Jagdeep Hira, Managing Director: And papers.

417 00:57:14.310 --> 00:57:17.940 Pranay Pasricha: Okay next question is from Mr jada in the yellow bar.

418

00:57:18.420 --> 00:57:22.230 Pranay Pasricha: Have the added new clients and last four months, I think it is.

419 00:57:22.290 --> 00:57:22.980 Pranay Pasricha: Regarding John.

420

00:57:27.720 --> 00:57:44.610

Satish: If this is regarding check, yes, we are continuing to stay focused on key clients across the country if you would there have been significant growth with the current clients current a customs and there have been significant additions to the our clients eligible.

421 00:57:49.050 --> 00:57:49.890 Satish: Thank you .

422

00:57:49.950 --> 00:57:52.440 Pranay Pasricha: The next question is from the seven another ID.

423 00:57:52.890 --> 00:57:54.120 Pranay Pasricha: Anything any plan.

424 00:57:54.420 --> 00:57:56.670 Pranay Pasricha: In any plan listing in NSE.

425 00:57:57.660 --> 00:57:58.230 Mr. Jignesh Shah, Chief Financial Officer: I think that.

Page 41 of 43

426

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Mr. Jignesh Shah, Chief Financial Officer: So actually you know this listing with SE goes long approved by the Board, as we were trying to do.

427

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Mr. Jignesh Shah, Chief Financial Officer: But since there was a module which was pending be completed after the merger, so we target to complete these by end of September, the sequel, and this is the process processes already there we go to the next one.

428 00:58:31.110 --> 00:58:31.680 Pranay Pasricha: Thank you.

429

00:58:32.670 --> 00:58:39.210

Pranay Pasricha: Sir, if you want to take the next question also it is regarding lead share release information to be lesson.

430

00:58:39.960 --> 00:58:54.840

Mr. Jignesh Shah, Chief Financial Officer: So collection release has been approved by the bankers, the process is complete, is to be completed at the security trustees of the banker so once that process is completed and the final release is done, we will inhibit to be.

431

00:58:55.470 --> 00:59:04.620

Mr. Jignesh Shah, Chief Financial Officer: exchanged and in that time where this person who was received from the Bank from it's near when given a soft individual saying that this we have received and.

432

00:59:06.450 --> 00:59:26.820

Mr. Jignesh Shah, Chief Financial Officer: So, once the process gets completed and the physical release is everything is done on the on the BSE and then of course we have one more information and, of course, when the shareholding goes to the for the next quarter, I think we should be able to show that he unpledged God.

433

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Pranay Pasricha: Thank you, I think we can take one last question from the Gaurav.

434

00:59:38.340 --> 00:59:51.180

Gaurav: Just a bit of bit I saw some media reports will be MODI Ji came to our stall in one of the exhibition's just wanted to ask what was his message to you guys.

435

01:00:00.840 --> 01:00:01.290

Page 42 of 43

Mr. Jagdeep Hira, Managing Director: So.

436

01:00:01.680 --> 01:00:05.010

Mr. Jagdeep Hira, Managing Director: It was indeed a lifetime opportunity interacting with.

437

01:00:05.070 --> 01:00:07.050

Mr. Jagdeep Hira, Managing Director: The Honourable Prime Minister.

438

01:00:08.460 --> 01:00:09.960

Mr. Jagdeep Hira, Managing Director: So interaction was.

439

01:00:11.280 --> 01:00:26.610

Mr. Jagdeep Hira, Managing Director: A bit serious also funny note, so it ended up in a funny words so he was really appreciated the productivity, with the production and his own hands faster towards the other side of the end.

440

01:00:27.720 --> 01:00:37.170

Mr. Jagdeep Hira, Managing Director: But strong seems good songs we said yes when fletcher from angriest which is sugar painters be so he was officiating for the innovative idea.

441

01:00:38.910 --> 01:00:50.850

Mr. Jagdeep Hira, Managing Director: Also, but that funny and he said quote unquote he said it's made of sugar can kind of we when we tap in it, so that was an A and he really appreciated.

442 01:00:52.140 --> 01:00:54.720

Mr. Jagdeep Hira, Managing Director: In words also and then his body.

443

01:01:00.000 --> 01:01:02.550 Gaurav: Congratulations on the success.

444 01:01:04.470 --> 01:01:04.830

Gaurav: Thank you.

445 01:01:05.460 --> 01:01:06.030

Mr. Jagdeep Hira, Managing Director: Thank you and once again Happy Janmashtami to all.

446

01:01:09.060 --> 01:01:11.640 Pranay Pasricha: yeah I think that's fine for questions.

447

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01:01:13.230 --> 01:01:15.720

Pranay Pasricha: Jignesh Ji, if you want to take over and.

448

01:01:20.400 --> 01:01:39.660

Mr. Jignesh Shah, Chief Financial Officer: So, once again, thank you very much, all the investors, for showing your students and interest in the company will keep on sending more phone calls on the quarters and we try to be more important for you guys excited you would like to see the Faculty was.

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Mr. Ved Krishna, Vice-Chairman: That thinking this way, he said it, but basically we are very thankful for your confidence in us we had i'm extremely proud of our team, and that the work that is being put in towards the future.

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Mr. Ved Krishna, Vice-Chairman: there's a lot of courage that the team is showing and the kind of steps that we're taking, we have a very strong conviction towards building towards impact and.

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Mr. Ved Krishna, Vice-Chairman: scaling the business, if you need a lot of guidance and support some of it, each time we talked to you, we get.

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Mr. Ved Krishna, Vice-Chairman: Some of that and, of course, you know your confidence and as investment in our shows.

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Mr. Ved Krishna, Vice-Chairman: You know your support, and that is really valuable to us, so thank you all for that we look forward to your guidance and we will keep working really hard towards the direction that we've set for ourselves towards the contribution to the planet Thank you so much.

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Pranay Pasricha: Thank you everyone for attending this.

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