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Jan 03, 2012, 03.56 PM IST
Textile player, Nahar Spinning expects to see a cash profit in Q4 as opposed to losses due to rupee depreciation.
In an interview to CNBC-TV18, Dinesh Oswal, managing director, Nahar Spinning Mills said, he expects to see a total turn over of about Rs 1,500-1,600 crore by March 2012.
The company is hopeful of maintaining turnover in the garment section .
Below is the edited transcript of Oswal’s interview with CNBC-TV18. Also watch the accompanying video.
Q: Could you give us a sense of how the rupee depreciation has benefited you? How will it show up in your financials?
A: Rupee depreciation has helped in increasing textile exports and in the Q4 it will have a positive impact on our balance sheet.
Q: We understand that you are projecting to turn in a cash profit in Q4; will this largely be on account of fluctuation in the currency because you are primarily exporting? Could you tell us what kind of a topline are you targeting for that quarter?
A: Definitely, depreciation is going to help us. By March 2012 we are expecting a total turn over of about Rs 1,500-1,600 crore out of which Rs 1,100 crores will be export turnover.
Q: This improvement in revenues is it only on account of rupee depreciation and the conversion or has there been an improvement in the volumes as well of exports?
A: There has been improvement in the volume; the tonnage has been improved because we commissioned our one lakh spindles by December and that increase in volume is also included.
Q: This growth that you had seen in the yarn segment, 30% of it was partially offset by 25% degrowth that was seen in the garment segment, can you give us a sense of your outlook is going forward? What kind of uptick in growth you are expecting to see?
A: We will be more or less maintaining our turnover in the garment section, but more increase will be in yarn side.
Action in Nahar Spinning Mills
Jun 19 2013, 23:15
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