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Restructuring domestic operations: Wockhardt
Chairman of Wockhardt Habil F Khorakiwala says that they have ramped up their domestic operations. Khorakiwala further said that they have increased their field force by about 15% and that has led to a one time increase in cost.
Chairman of Wockhardt Habil F Khorakiwala says that they have ramped up their domestic operations. Khorakiwala further said that they have increased their field force by about 15% and that has led to a one time increase in cost.
Khorakiwala believes that margins will improve two quarters from now.
Excerpts from CNBC - TV18's exclusive interview with Khorakiwala:
Q: What led to the decline in margins and how soon do you see these margins stabilizing?
A: At the moment, we are looking to invest in 2-3 specific areas. One, we have ramped up our domestic operations, we have increased our field force by about 15% and that has led to a one time increase in cost.
Second, Biotech this year is fully operational, so there are costs here. Earlier it was partly in the research and development stage. So, therefore we are seeing a decline in margins. In the next two quarters, from now onwards, one will see our sales go up, margins will also improve.
Q: How soon will the Pinewood consolidation happen, if you could just take us through that?
A: We just acquired it a few weeks back. We are in the process of assessing the entire situation and we would start taking action for restructuring in the next three months or so. We believe the whole process, in terms of value capturing will take about 12-18 months.
A: At the moment, we are looking to invest in 2-3 specific areas. One, we have ramped up our domestic operations, we have increased our field force by about 15% and that has led to a one time increase in cost. 
