Manu Parpia refuses Godrej group's exit from Geometric, where the former has a 29.8 percent stake in the latter.
Speaking to CNBC-TV18 Parpia says the Q2 and Q3 may not turn in very good numbers but he is not very pessimistic of the future.
Below is the verbatim transcript of Manu Parpia’s interview on CNBC-TV18
Q: Are you aware of the fact that Godrej group may look to exit its stake in Geometric very soon?
A: I am not aware, such rumors keep floating and nothing happens. So, I would urge you to treat it as just a rumor.
Q: Did you have any talks with the company at all in the last three-six months?
A: Not at all.
Q: Have they denied the sale? Or any plans of selling?
A: You will have to ask this to Godrej but the same rumor keeps coming.
Q: We did get in touch in Adi Godrej and he told us we do not comment on speculations.
Q: Last quarter, we did see the impact of slowdown from your big client, will we continue to see that kind of slowdown in the second quarter as well?
A: The next two quarters are unlikely to be too exciting because we have this problem but overall in the engineering space there is no slowdown, we just happen to have a large customer which has a slowdown.
Q: Are you expecting any impact on the margins as we head into the next couple of quarters? Can you hold on the 19 percent margin that you clocked in the quarter gone-by?
A: I think there will be some impact but I hope it won't be too dramatic. I won't comment further because results are around the corner. However, when there is effect on revenue there has to be some impact but I am not pessimistic at all.