Investor ya analyst ke liye sabse bada watch point yeh rahega ki FY24 me jo expanded capacity (78 lakh meters) add hui hai, uska utilisation aane wale saalon me consistently improve hota hai ya nahi. Agar demand growth expected level par nahi rahi, to capacity under-utilised reh sakti hai, jisse fixed costs ka burden badhega aur profitability par pressure aa sakta hai.
Iske saath hi, higher production volumes ka direct impact working capital par padta hai—raw material inventory (PVC/PU chemicals, fabric), finished goods stock aur B2B sales ki wajah se receivables sab increase hote hain. Agar cash conversion cycle tight control me nahi rahi, to company ko additional debt lene ki zarurat pad sakti hai.
Finally, volumes badhne ke baad margin stability ek key monitorable rahegi. Capacity utilisation improve hone se operating leverage ka benefit mil sakta hai, lekin agar competition ke chalte pricing pressure aaya ya raw material costs volatile rahi, to margins stable rehna challenging ho sakta hai. Isliye future performance evaluate karte waqt utilisation trend, working capital discipline aur margin sustainability—teeno ko ek saath track karna zaroori hoga.
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Aritas Viny Limited IPO
