India's largest lamitube maker, Essel Propack indicated a possible price hike of its products. Speaking to CNBC-TV18, Ashok Goel, VC and MD of Essel Propack said, "We would be seeking price increase in the range of about 3-3.5% from our customers."
Below is the verbatim transcript of Goel's interview with CNBC-TV18's Sonia Shenoy and Ekta Batra of CNBC-TV18. Also watch the accompanying video. Q: We are hearing talks about a hike in prices as well. How much of a hike are you going to do? A: The raw material prices actually have grown up to the extent of 6% to 7% from last year to the current levels. We would be seeking price increase in the range of about 3% - 3.5% from our customers. Q: Just a word on what that would really do in terms of helping you with your profitability, because last quarter as well the disappointment came in on your EBITDA performance at about 16% or so. How much do you think this could translate into as an up move in your EBITDA performance? A: There are two separate things that we are talking here. One is that, the raw material price increase does not really impact EBITDA improvement because the raw material price rise is a transparent mechanism. The disappointment that you referring to is that, itDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
