Key Points
"Both the sectors which we participate in, the agri segment and the construction segment, are showing fairly robust growth..
In the agri segment, we did see a little bit of drop in volumes, especially because of the volatility which we saw in the last part of Q2, but that has stabilized..
Correct, but let me just point out that on a year-on-year basis, although the overall revenue has been down, the pipes and fittings business has grown and the EBITDA margins have seen a dramatic turnaround from almost Rs 143-crore loss last Q2 FY23 to Rs 103 crore of profits in FY24..
PVC prices being stable, we did see some amount of volatility from the second and third week of September leading up to almost half of October, but that has stabilized and stability in PVC prices brings stability in the business itself...
But that was largely due to the pent-up demand from the previous years when the PVC prices were really high and the farmers had stopped buying or delaying, postponing their decision to buy pipes, which picked up really well last Q3..
