Capex
AccountingCapital expenditure — cash spent acquiring or maintaining long-term assets.
In plain terms
Growth capex builds the future; maintenance capex just stops the present from falling apart.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Maintenance capex
Fundamental analysisThe capital spending needed just to keep the business running at its current level.
In plain terms
Separate it from growth capex. One is a cost of survival, the other an investment decision.
Asset turnover
Fundamental analysisRevenue divided by assets — how much sales each rupee of assets generates.
In plain terms
It collapses during a capex cycle because capital arrives before revenue does.
China+1
Fundamental analysisAlso called: China plus one
Global buyers adding a supplier outside China to reduce dependence on it.
In plain terms
A major driver of Indian chemical capex — but Chinese oversupply can still undercut Indian producers.
Ramp-up
Fundamental analysisThe period in which new capacity moves from first production towards full utilisation.
In plain terms
Costs arrive in full at once; returns arrive as the plant fills. A slow ramp is the commonest reason capex disappoints.