Latest news with #Rs60-70
Time of India
16-06-2025
- Business
- Time of India
Prices of leafy vegetables shoot up in Pune markets as rains intensify
1 2 3 Pune: Fewer arrivals in the market have pushed up prices of some leafy greens, including fenugreek, spinach and spring onion. Heavy rains that came relatively earlier this year have impacted the harvest of some of these vegetables, vendors said. Shweta Kulkarni, a resident of the NIBM Road areas, said prices of some of these greens are soaring. "The vendor nearby is selling methi (fenugreek) at Rs60-70 a bunch, and spinach availability has dipped," she said. The same bunches of methi were retailing at Rs20 in April this year, indicating a significant price hike. Neelam Doshi, a resident of Kalyaninagar, said, "We have temporarily stopped consuming these greens because prices are unaffordable on a routine basis. Even tomatoes are Rs50/kg, so overall grocery expenses are shooting up." Rohit Suryavanshi, a wholesale vendor at Hadapsar, said, "Arrivals of some of the vegetables are less because of the rain. In the wholesale market, methi is selling at Rs30-40 a bunch, and spring onions at Rs20-25 a bunch. The price going forward will depend on the intensity of the monsoon." Amol N, a vegetable vendor in Salunkhe Vihar, said, "No customer is willing to pay Rs70 for a bunch of methi. If we split it into smaller bunches, customers complain that the price is too high for the quantity. We have just stopped procuring it from the wholesale market until the price eases off a bit." Rajendra Suryavanshi, a wholesale vendor at the Agriculture Product Market Committee (APMC) market in Mandai, said most of the fenugreek and spinach that comes to the city is from around Pune district. "Prices are still high, but they came down by about 30% over the last 10 days on an overall basis. This is because there was not much rain in the last week or so. Owing to the middlemen involved and transport costs, retail prices are much higher than wholesale," he said. Prices online or on quick commerce are skyrocketing, too, said consumers. Sonali Deshmukh, a resident of Baner, said, "I usually order my vegetables online. Methi is selling at Rs80 a bunch, and platforms selling it cheaper are offering smaller bunches anyway. I bought spring onions at Rs50 a bunch." Consumers also complained that despite the higher prices, the quality of the leafies is not good. "The greens available in the market are extremely muddy, and often too many leaves are also damaged. I also found small worms a few times. It has become a more onerous task to clean and segregate these veggies," said Geeta Shetty, a resident of Pashan. Pune: Fewer arrivals in the market have pushed up prices of some leafy greens, including fenugreek, spinach and spring onion. Heavy rains that came relatively earlier this year have impacted the harvest of some of these vegetables, vendors said. Shweta Kulkarni, a resident of the NIBM Road areas, said prices of some of these greens are soaring. "The vendor nearby is selling methi (fenugreek) at Rs60-70 a bunch, and spinach availability has dipped," she said. The same bunches of methi were retailing at Rs20 in April this year, indicating a significant price hike. Neelam Doshi, a resident of Kalyaninagar, said, "We have temporarily stopped consuming these greens because prices are unaffordable on a routine basis. Even tomatoes are Rs50/kg, so overall grocery expenses are shooting up." Rohit Suryavanshi, a wholesale vendor at Hadapsar, said, "Arrivals of some of the vegetables are less because of the rain. In the wholesale market, methi is selling at Rs30-40 a bunch, and spring onions at Rs20-25 a bunch. The price going forward will depend on the intensity of the monsoon." Amol N, a vegetable vendor in Salunkhe Vihar, said, "No customer is willing to pay Rs70 for a bunch of methi. If we split it into smaller bunches, customers complain that the price is too high for the quantity. We have just stopped procuring it from the wholesale market until the price eases off a bit." Rajendra Suryavanshi, a wholesale vendor at the Agriculture Product Market Committee (APMC) market in Mandai, said most of the fenugreek and spinach that comes to the city is from around Pune district. "Prices are still high, but they came down by about 30% over the last 10 days on an overall basis. This is because there was not much rain in the last week or so. Owing to the middlemen involved and transport costs, retail prices are much higher than wholesale," he said. Prices online or on quick commerce are skyrocketing, too, said consumers. Sonali Deshmukh, a resident of Baner, said, "I usually order my vegetables online. Methi is selling at Rs80 a bunch, and platforms selling it cheaper are offering smaller bunches anyway. I bought spring onions at Rs50 a bunch." Consumers also complained that despite the higher prices, the quality of the leafies is not good. "The greens available in the market are extremely muddy, and often too many leaves are also damaged. I also found small worms a few times. It has become a more onerous task to clean and segregate these veggies," said Geeta Shetty, a resident of Pashan.
Mint
29-05-2025
- Business
- Mint
Deepak Nitrite's investors have to wait longer for margin to improve
Deepak Nitrite Ltd investors seem thrilled about the prospects of Ebitda margin bottoming out, going by its March quarter (Q4FY25) results. Ebitda margin soared to 14.5%, a staggering rise of 567 basis points (bps) QoQ. The stock increased over 5% to almost ₹2,110. But note that Q4 had government incentives worth ₹161 crore included in revenue, which was absent in Q3. Excluding that, Ebitda margin would have been 7.7%, lower than 8.9% in the preceding quarter. Nonetheless, the benefit of government incentives is likely to continue for the next couple of years at least and would be Rs60-70 crore on a sustained basis. The phenolics segment, forming nearly 70% of revenue, showed a return to normalized Ebit margin at 15.6%, up by 150bps year-on-year, although QoQ recovery is sharper as the margin had dipped to 8.9% owing to firm input prices. The spreads in phenolics have reached such a low that it has become difficult for most non-integrated producers to survive. The other segment—advanced intermediates—continues to struggle, with Ebit margin falling a whopping 1300 bps year-on-year to 7%, even though it recovered from an abysmal low of 3% in Q3. Advanced intermediates mainly caters to the agrochemicals, dyes, and pigment industries. The management believes that dyes and pigments are showing initial signs of demand bouncing back, but the recovery in agrochemicals remains uneven after the global destocking in the agrochemical (finished goods) business. Deepak Nitrite wants to reduce dependence on a few products in advanced intermediates by focusing on diversification through new variants and downstream products. It is also looking to reduce performance volatility through long-term supply contracts with a couple of large global customers. The company's earnings growth is more correlated to capital expenditure (capex) led volume growth rather than margin-led growth through pricing power. Capex projects costing ₹2,000 crore would be commissioned in FY26. Also Read: Deepak Nitrite's weak chemical margin comes as a shock catalyst However, the management refrained from giving any guidance for the future in view of the geopolitical uncertainties and ongoing tariff war. Over the long term, the company has a pipeline of expansion projects worth ₹15,000 crore up to FY28. During the earnings call, the management said aggressive capacity expansion in China has led to pricing pressure globally. So, unless there is rationalization of overcapacity, there is little hope. Even if Deepak Nitrite's cost savings initiatives do fructify, Bloomberg consensus estimates are factoring 23% CAGR in EPS for the next two years to FY27. Based on FY27 estimates, the stock trades at 27x, which is expensive for a commodity stock. Also Read: LIC's growth perils curb stock's valuation
