Sunil O Khandelwal, CFO, Alok Industries, said it is going to quote present exchange rates to buyers. He doesn’t see any significant impact on profitability.

Rajendra Hinduja, Executive Director, Gokaldas Exports, sees no immediate benefit of a weakening rupee. The textile major has covered positions for the next two months, he said.

According to Hinduja, there is no proposal from Blackstone to delist the company.

Excerpts from CNBC-TV18’s exclusive interview with Sunil O Khandelwal and Rajendra Hinduja:

Q: What has been the impact of the rupee depreciation on your margins, if you assume that rupee will be between Rs 41-42 per dollar for this April-June quarter?

Hinduja: It’s good news that the rupee started depreciating. As an exporter, it is good news for us. We have hedged our exposures for next few months, so it is not that we will get relief or it will show immediately on the bottomline in the next few months. Every exporter of our size, or even smaller, have covered their dollar exposures for the next few months. Presuming that the rupee will be where it is now, this will give an impact only after Q2.

Q: How are you expecting margins to pan out, if Rs 41.42 per dollar is the average for the quarter? Would you say that Q1 would immediately show an impact?

Khandelwal: We don’t look at this from a profitability point of view. This is good for us. In terms of prices, what we are going to quote to our buyers would be based on the present exchange rates. It is increasing our competitiveness, and treasury does its job quite well. It takes a call from time to time and hedges exports. So, I don’t see any significant impact on profitability as such.

Q: There are reports that Blackstone might look at delisting Gokaldas Exports. Any talks that you had with Blackstone and if those reports are true?

Hinduja: No, those reports are speculative and there are no such discussions at all.

Q: Will Gokaldas Exports remain a listed entity for the next 6-12 months?

Hinduja: So far, there are no discussions on. It would be the presumption of the journalist who has written that.

Q: Will this have any impact on your cotton purchase prices? How has raw material purchase prices impacted your raw material?

Hinduja: There has not been any change in cotton yarn prices since the last one week. They are on a rise. If the rupee remains at Rs 41.5 per dollar as you are presuming, it could reflect some changes in Q2 performance and not Q1, not only for Gokaldas but for the entire textile exporting community. After seeing what has happened to the rupee, everybody in this industry has covered their dollar and euro exposures for the next few months. But if there is a 1% drop in the rupee, it generally companies’ bottomline by 0.5%. This is a broad thumb roll.