Latest news with #Sreedhar
The Hindu
27-05-2025
- Business
- The Hindu
State working on new AVGC-XR policy, aims to attract Hollywood studios
In a move to position itself as a global hub for digital creativity, the State government is working on introducing the AVGC-XR (animation, visual effects, gaming, comics, and extended reality) policy to unlock its potential in the $531 billion global industry by 2030. If implemented effectively, it will position the State alongside Maharashtra (Mumbai & Pune), Karnataka (Bengaluru), Telangana (Hyderabad), and Madhya Pradesh leaders in the AVGC-XR landscape in India. If implemented correctly, the State will be able to attract Hollywood studios to outsource technical components of their production to the State. Representatives from APDTI Network and the Andhra Pradesh Vfx Animation Gaming Association have already met with State officials to highlight the critical need for this unique AVGC-XR policy. A senior official at the Secretariat told The Hindu: 'To harness the potential of the youth of our State, the government is currently considering the possibility of introducing this new AVGC-XR policy like an IT policy. A formal meeting was held with stakeholders, including entrepreneurs, for their suggestions. The draft is almost ready. We are likely to hold a workshop with stakeholders from these sectors. After corrections and feedback, we will formally announce the policy.' APDTI Network Director, Sreedhar Kosaraju one of the representatives who held discussion with the government on the policy to attract global players (studios, hardware manufacturers, research and development centres), said, 'The policy aims to attract AVGC-XR companies to the State, increase local employment opportunities, retain creative talent (currently migrating to Hyderabad and Bengaluru), and strengthen AP's media and entertainment ecosystem.' Presently, 15% of AVGC-XR CEOs in India are from Andhra Pradesh, and thousands of Andhra-origin professionals power top studios across India, including those working in the AVGC industry in Hyderabad. Mr. Sreedhar Kosaraju said: 'Our State is competitive as it has a 30-40% cost advantage over Hyderabad and Bengaluru. If the government implements the policy perfectly, we will work to retain indigenous talent.' Additionally, we have urged the government to prioritise the creation of an AVGC/gaming corridor in Visakhapatnam to accelerate this growth. We have also sought subsidies on infrastructure for this sector as the setup is costlier than the infrastructure required by IT companies,' Sreedhar opined.
Yahoo
01-03-2025
- Business
- Yahoo
Compagnie de Saint-Gobain SA (CODGF) (FY 2024) Earnings Call Highlights: Record Financial ...
Revenue Growth: Sequential improvement in sales with 1.6% growth in the second half of 2024 at constant exchange rate. Operating Margin: Record operating margin at 11.4%. Recurring Net Income: Record recurring net income at EUR 3.5 billion. Free Cash Flow: Record level of free cash flow at EUR 4 billion with a 62% cash conversion ratio. EBITDA Margin: New record EBITDA margin at 15.5%. Net-Debt-to-EBITDA Ratio: 1.4 times at the end of December. Europe Operating Margin: New record operating margin at 8.4%. Americas Operating Margin: New record operating margin at 18%. Asia Pacific Operating Margin: Record level operating margin at 12.6%. High Performance Solutions Operating Margin: Increased slightly to 4.1%. Dividend Per Share: Planned dividend of EUR 2.2 per share, up 5% for 2025. Share Buyback Commitment: EUR 400 million in 2025. Warning! GuruFocus has detected 8 Warning Signs with NEXXY. Release Date: February 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Compagnie de Saint-Gobain SA (CODGF) achieved record financial results in 2024, including a record operating margin of 11.4%, recurring net income of EUR3.5 billion, and free cash flow of EUR4 billion. The company expanded its presence in high-growth markets through strategic acquisitions in Australia, Canada, India, the Middle East, Asia Pacific, and Mexico, contributing to over two-thirds of its operating profit. Significant progress was made in sustainability, with a 34% reduction in Scope 1 and 2 CO2 emissions since 2017 and the launch of innovative products like the 100% recycled gypsum plasterboard. The Grow & Impact strategy has been successfully executed, focusing on financial performance, pricing power, disciplined capital allocation, and sustainability as a competitive advantage. The company maintained a strong balance sheet with a net-debt-to-EBITDA ratio of 1.4 times, allowing for continued investment in growth and strategic acquisitions. Despite overall strong performance, the European market remained challenging, with new construction markets down and only a gradual recovery expected in the second half of 2025. Volumes were down slightly for the full year, and prices were slightly down due to a deflationary environment, although a stabilization was noted towards the end of 2024. The company faces potential risks from geopolitical uncertainties, including energy price volatility and potential tariffs, which could impact future performance. The High Performance Solutions segment saw a decline in sales over the full year, although there was a sequential improvement in the second half. The company is cautious about the construction cycle recovery, with expectations of flattish to slightly positive volumes in 2025, indicating potential challenges in achieving significant growth. Q: Why did Sreedhar move to the Asia Pacific and India region, and what are the assumptions for the construction cycle recovery? A: Sreedhar sees numerous opportunities in the growing Asia Pacific region, which is directly linked to population growth. Saint-Gobain is recognized as a leader in sustainable construction in this market. Regarding the construction cycle recovery, volumes are expected to be flattish to slightly positive for 2025, with growth anticipated in the second half as Europe gradually recovers. Prices are expected to be slightly positive, maintaining a positive price/cost spread. (Benoit Bazin, CEO; Sreedhar N., CFO) Q: What opportunities exist in the waterproofing, adhesive, and sealant markets, and what returns are expected from US investments? A: The construction chemical market, including waterproofing and sealants, is a EUR100 billion market. Saint-Gobain has made significant acquisitions in this space and plans to continue investing. In the US, new plants for roofing and plasterboard are expected to yield over 20% returns, with operations starting mid-2025. (Benoit Bazin, CEO) Q: How is Saint-Gobain managing energy price increases and pricing momentum for 2025? A: The company has returned to its standard hedging policy, covering about 50% of energy needs. Pricing has been stable, and multiple price increases have been announced for 2025 across various geographies and segments. (Sreedhar N., CFO; Benoit Bazin, CEO) Q: What impact will recent acquisitions have on 2025 revenue and operating profit, and what is the exposure to geopolitical risks like Ukraine-Russia? A: Acquisitions are expected to contribute around 3% to sales and EUR200 million to profit in 2025. Saint-Gobain has minimal exposure to Ukraine, with potential energy price impacts being the primary concern. The company is well-positioned to handle geopolitical uncertainties due to its local market focus. (Benoit Bazin, CEO; Sreedhar N., CFO) Q: What is the outlook for M&A activity in 2025, and how does it align with cash flow management? A: Saint-Gobain remains focused on quality execution and value creation through M&A. While 2024 saw significant acquisition spending, the company will continue to pursue strategic opportunities while maintaining a strong balance sheet. Cash flow management includes growth CapEx and shareholder returns, with a disciplined approach to capital allocation. (Benoit Bazin, CEO; Sreedhar N., CFO) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
