Moneycontrol
Mar 25, 2011 03:26 PM IST | Source: CNBC-TV18

Mahindra Forgings foresees good results from German plant

In an interview with CNBC-TV18, Deepak Dheer MD of Mahindra Forgings citing the company's outlook said, "Our European recovery has been better than expected. We are looking forward to a very good result from the German plant."

Mahindra Forgings foresees good results from German plant

In an interview with CNBC-TV18, Deepak Dheer, MD of Mahindra Forgings citing the company's outlook said, "Our European recovery has been better than expected. We are looking forward to very good results from the German plant."


"We are at a stage where we are consolidating with the German companies in India. We hope to see the results in Q3 of FY12 onwards," he added.


He said that the company has created capacity in anticipation of demand and is not looking forward to major fund raising.


Below is the verbatim transcript of Dheer's interview with Sonia Shenoy and Gautam Broker of CNBC-TV18. Also watch the accompanying video.


Q: Could you give us some highlights about the European operations and how they are doing? What kind of run rate can you give us in terms of for revenue from the European business?


A: Our European recovery has been better than expected. Most of our major customers are growing by more than 9% on an average, which is a very good sign and the German plants are full of orders. Their capacity utilization is very close to 100%. We are looking forward to a very good result from the German plant.

Q: Mahindra & Mahindra (M&M) has been very active, it

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