Not easy for OEMs to import non-refrigerant fill ACs,unpack,gas fill test,negates cost advantage
#amberenterprises Q2fy21 concall transcript
Q2 went well for Room AC industry,uptick retail demand, pent up demand
Overall electronic & consumer durables witnessed a good quarter
Inventory levels back to normal
Anticipate better H2fy21
#stock #StocksToWatch #Nifty #sensex
Not easy for OEMs to import non-refrigerant fill ACs,unpack,gas fill test,negates cost advantage
China plus 1 unfolding,global MNC enquiring about RAC & components
Amber started export of components to US
Strengthened portfolio in Sidwal for railway,metros,bus ACs
Revenue 408 cr in Q2fy21 vs 623 yoy
RAC 36% ,components & mobile apps 64% contribution to revenue
Ebidta Q2fy21 22 vs 39 cr yoy
Sidwal business to focus on metros & AC coaches
IN JIN & EVER to focus on inverter ACs,post development of own inverter PCB board,expect to add more business in IN JIN & EVER
#amberenterprises
Ban on refrigerant AC import to lead to volume expansion from Feb 21
ACs to US mkt ,1st sample to be ready by Jan,next yr for reliability testing & approval cycles,fy22 room AC exports may start
Entered commercial AC mkt,approvals came Q2,started exports though low volumes,to expand portfolio to 18-20 products,mkt size ductable 4000cr & VRV 2500 crs
2 large tenders from Delhi metro for Sidwal worth 98 crs
Export of RACs,65 million ACs, 80% from China & 20% from Thailand,2 biggest exporters of RACs
Amber on par for cost of 1.5,2 tonne ACs,countries with no FTA in place expect apple to apple cost
AC industry mainly outsourced, from 34% in Jan 2018 to 48% now,Amber share up from 55 to 70% post ipo
Expect reliability cycle for RAC to complete in 2021,export 2022
Shift of business in Q2, 64% business from components out of which 60% from non AC components
US large mkt for RAC,20 out of 65 mn exports are to US,opened sales office
Channel inventory for RAC down from 2.2-2.4 mn to 6-7lakhs
#amberenterprises provides comprehensive & integrated solutions, strong R&D,15 plants across India,wide range 0.75-2 tonn,all star category,1stop for components
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1/ Some initial thoughts on personal moats:
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
Like company moats, your personal moat should be a competitive advantage that is not only durable—it should also compound over time.
Characteristics of a personal moat below:
I'm increasingly interested in the idea of "personal moats" in the context of careers.
— Erik Torenberg (@eriktorenberg) November 22, 2018
Moats should be:
- Hard to learn and hard to do (but perhaps easier for you)
- Skills that are rare and valuable
- Legible
- Compounding over time
- Unique to your own talents & interests https://t.co/bB3k1YcH5b
2/ Like a company moat, you want to build career capital while you sleep.
As Andrew Chen noted:
People talk about \u201cpassive income\u201d a lot but not about \u201cpassive social capital\u201d or \u201cpassive networking\u201d or \u201cpassive knowledge gaining\u201d but that\u2019s what you can architect if you have a thing and it grows over time without intensive constant effort to sustain it
— Andrew Chen (@andrewchen) November 22, 2018
3/ You don’t want to build a competitive advantage that is fleeting or that will get commoditized
Things that might get commoditized over time (some longer than
Things that look like moats but likely aren\u2019t or may fade:
— Erik Torenberg (@eriktorenberg) November 22, 2018
- Proprietary networks
- Being something other than one of the best at any tournament style-game
- Many "awards"
- Twitter followers or general reach without "respect"
- Anything that depends on information asymmetry https://t.co/abjxesVIh9
4/ Before the arrival of recorded music, what used to be scarce was the actual music itself — required an in-person artist.
After recorded music, the music itself became abundant and what became scarce was curation, distribution, and self space.
5/ Similarly, in careers, what used to be (more) scarce were things like ideas, money, and exclusive relationships.
In the internet economy, what has become scarce are things like specific knowledge, rare & valuable skills, and great reputations.
