Kalindee Rail Nirman slumped close to 12% on debt concerns. The debt on the company's book is at Rs 75 crore. AP Verma, director of finance at Kalindee Rail Nirman spoke about the latest happenings in the company and gave a perspective on the business going ahead.

Below is the edited transcript of Verma’s interview to CNBC-TV18. Also watch the accompanying video.

Q: Last time, you indicated that you submitted a significant amount of orders worth about Rs 700-750 crore with Rail Vikas Nigam (RVNL). The market is concerned as it hasn’t seen any finality on the outcome of any of these bids. When are they expected as it was expected to come out in October-November?

A: It is taking some time. It might come by the next month. In the mean while, we have some small projects. Presently, we got one from eastern railway and Bangalore Metro Rail Corporation (BMRCL), but there is a reserve of Rs 50 crore. As on today, the work on hand is about Rs 550 crore. We are expecting the bigger orders any moment, mostly by next month.

Q: Since they have been deferred, will there be any problem in achieving the earlier guidance of about 30-40% by way of revenues? Will it hurt the guidance?

A: As on today, we have not changed the guidance. We are hopeful that we will achieve the stipulated target. We will take a revise decision in next month.

Q: You signed about a USD 15-million deal with Bangladesh Railway for restoration of railway track. What is the progress on that front? Is it near completion?

A: Bangladesh Railway work has already started. The momentum should take place by next month. There were some initial hindrances of staff deployment, but it has been resolved. The work will take momentum from next month.

Q: Are you submitting fresh bids with Bangladesh Railways?

A: Yes. We are submitting some other bids. It is expected to take sometime. It is in process.

Q: Will these fresh orders for Bangladesh be in this fiscal year?

A: I am not sure on how much we will get, but we are already in the fray.

Q: Domestically, will any new fresh tenders open up that we should watch out for when the company is likely to bid?

A: It would be next month.

Q: To close the year, what would be your realistic order book?

A: If this materialises, it would be a good figure.

Q: If there is any debt on the books, what kind of debts do you have?

A: All our debt is short-term.