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Mangalore Chem Q3 net up, sees volumes picking up ahead
UB Group owned Mangalore Chemicals and Fertilizers has reported its results for the third quarter of FY10. Revenues were down 11% YoY, while PAT rose 33% versus the same quarter last year. In an interview with CNBC-TV18, Deepak Anand, MD, Mangalore Chemicals and Fertilizers spoke on the quarter gone by and the road ahead.
Q: So what do you hope to clock in by the financial year end in terms of your revenues?
A: We should be around the same number as last year for the full year, in spite of the drop in feedstock prices because our volumes hopefully will be going up significantly in terms of our imported DAP and a sharp increase in our specialty fertilizers.
Q: As per the pricing policy of NPS (New Pricing Scheme), I understand you will receive some sort of concession? Could you take us through that and what it exactly entails?
A: From what we understand of the NPS, as you are aware it has not been notified as yet and that still has to be approved by the CCEA (Cabinet Committee on Economic Affairs). The government is planning to partially or theoretically free the MRP of the Phosphatics and Potash.
Q: When it comes into play how would this affect your profitability?
A: We will be free to fix the MRP within a certain band to the farmers. So one's agility in the marketplace should be of benefit. Today with MRPs, destinations fixed, everything is controlled. There is no flexibility at all.
