Transcript of the Institutional and Analyst Meet held on May 7, 2026
VESUVIUS · price
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Vesuvius India hosted an analyst meet in Kolkata with top management including MD Mohinder Rajput, CEO of parent Vesuvius plc Patrick Andre, and Group CFO Mark Collis. The company highlighted that 20-25% of sales come from products developed in the last 5 years, leveraging Rs 35-36 million annual group R&D. Management emphasized maintaining 55% market share in flow control refractories while avoiding commoditized segments. Key growth areas include aluminium (new dedicated team), induction furnaces, furnace lining, and super-large ladles. Mould flux capacity at Vizag is fully booked. On capex, management disclosed ~Rs 700 Crores invested out of Rs 1,000 Crores guided, with capacity headroom for 10+ years and plans to likely exceed earlier guidance. Management does not see overcapacity as a concern, noting India's refractory market will double in 10 years. No presentation was made during the meet.
Positive signal for investors - management remains confident in technology differentiation and pricing power despite new competitor capacity. Strong balance sheet and capacity headroom support multi-year growth, though no specific revenue or margin targets were disclosed.