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In an interview to CNBC-TV18 AP Verma, director of finance, Kalindee Rail Nirman said, we expect the government to announce Delhi-Lucknow-Patna, Delhi-Jaipur-Jodhpur or Pune-Mumbai-Ahmadabad, Chennai-Bangalore corridors this year.
Seven corridors have already been approved, we expect these things to come in the Budget
Director - Finance
The street hopes that this Railway Budget will focus on enhancing railway infrastructure, safety standards, operational efficiency and quality of service. Also, the contracting for Dedicated Freight Corridor (DFC) projects is under way, so some concrete steps to fast-track the implementation of this project will provide a huge boost to railways.
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"Freight corridor has been moving very slow, but now new tenders have started coming in the market. We have also tied up with some foreign companies and are going to bid for this. Things should look up from this Budget," he elaborated.
Q: According to your Q3 numbers, your top line has collapsed 60 percent. Are you facing a serious dearth of executable orders at Kalindee Rail?
A: No, I don't think it is right. At the moment the work order is at peak level, it has never been so good earlier. Year end, we will reach a better figure than last year.
Q: For Q3 your sales fell 60 percent to Rs 77 crore. What is this big jump in order execution that you are talking about?
A: All the big new orders have come in the second quarter which will be translated in the actual turnover in FY14. However, it will have some effect in the last quarter of FY13.
Q: The make or break seems to be the direct freight corridor (DFC) project. What the rail minister has to say about that because that has just not been moving and has an impact on you? Are you expecting to hear anything in terms of further headway on land acquisition or whether he is going to spend more towards the project?
A: I am expecting to hear some good news as the government is now in progressive mood because the obstructions are over. Freight corridor has been moving very slow but now the new tenders have started coming in the market and we have also tied up with some foreign companies and are going to bid for this.
Things should look up from this Budget. Also I am expecting something new this year. I don't know when we will come to the right level of thinking like this for speed corridors, bullet trains. Seven corridors have already been approved, we expect these things to come in the Budget. Like Delhi-Lucknow-Patna, Delhi-Jaipur-Jodhpur or Pune-Mumbai-Ahmadabad, Chennai-Bangalore all these corridors should be announced this year.
Kalindee Rail stock price
On March 12, 2014, Kalindee Rail Nirman (Engineers) closed at Rs 56.70, down Rs 0.55, or 0.96 percent. The 52-week high of the share was Rs 83.40 and the 52-week low was Rs 44.15.
The latest book value of the company is Rs 92.98 per share. At current value, the price-to-book value of the company was 0.61.
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