 Rosebys-Caretel JV won't have direct impact on co: GHCLPublished on Fri, Jun 25, 2010 at 15:41 | Source : CNBC-TV18 Updated at Fri, Jun 25, 2010 at 17:14 4077 Investors following Guj Heavy Chem. Share this News with them.
Here is a verbatim transcript of the exclusive interview with Sanjay Dalmia on CNBC-TV18. Also watch the accompanying video. Q: We were looking at your audited accounts, which were given, you have an outstanding guarantee to the tune of Rs 364 crore, which are pertaining to Dan River and Rosebys and for this no provisions have been provided. What you are going to do with this when are you going to account for this? A: I cannot give a precise answer to that because all these accounts are done as per the norm. When are we going to provide etc is when the whole thing is known to us because Dan River still there are assets, which are been sold etc. Rosebys is a brand that already started working in India. So once we know the total, I would go on that account, we will provide if necessary. Q: Rosebys is diversified into home maintenance services. What does this bring on for GHCL? A: This is not going to have direct impact on GHCL per se because this is a venture with Rosebys and Caretel, which is another company, which is one of the mega IT company and it has got a lot of calling capabilities. So it is very sound decision to do it together, in the sense that Rosebys is lifestyle stores and Caretel is very good in the calling service, so the combination is good and will be very useful. Q: What is the kind of revenue that you are expecting from this? A: Initially it's going to be started in Noida area, which is going to be launched tomorrow. Then we will be covering the whole lot of National Capital Region by this financial year, if not earlier and then we will go pan India. So if I just go for the national capital region and these nine months should be Rs 100 crore plus. Q: How is Rosebys is doing currently in terms of financials, in terms of PAT (profit after tax) level and a top-line level, if you could throw some numbers at us? A: This is just two months and Rosebys just recently signed an agreement with National Textile Corporation (NTC) to run all their stores, 90 stores across India. The first one is already operational in Khan Market in New Delhi. Khan Market is a premium shopping area in New Delhi. Q: How much do you expect as you are doing a lot of expansion for this brand, what sort of revenue traction can we expect in FY11 from this brand in particular? A: It's difficult for me to project revenue. But all I can say as per the number of stores are concerned, if I am able to modify and rework these NTC stores, which are called Rosebys NTC stores, plus our existing stores it could be more than 150-200. Q: How soda ash demand panning out for you and what are the current prices, which soda ash is quoting at right now? A: Soda ash prices are stable now, earlier a lot of discounts were been given because of lot of imports etc. Now the soda ash prices are getting stabilised. I am not saying it has gone up. All we have done is stop giving extra discount, which we had to shell out. So to that extent, it's a positive sign that we have to keep our fingers crossed and see because input costs have certainly gone up. Therefore, we certainly need increase in the price but let see how it happens. Q: What about your Romanian subsidiary? How is that doing? A: It's a same thing. It's a soda ash, Europe soda ash is worse than Indian soda ash.
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In an interview with CNBC-TV18, Sanjay Dalmia, Chairman, 
