Kamdhenu Ispat eyes Rs 385-390cr revenue in FY11

Media reports have been emerging that Kamdhenu Ispat is planning to hive-off its paints' business and launch its FPO in FY11-FY12.

However, the company informed BSE, that such news is without substance. It does not have any plans to hive-off of its paints' division in the current financial year nor will it launch any FPO in the near future. Satish Kumar Agarwal, MD of the company, told CNBC-TV18's Latha Venkatesh and Gautam Broker about the company's revenue expectations. Below is a verbatim transcript of the interview. Also watch the accompanying video. Q: You have made some clarifications publicly as well. Do you have plans of hiving of any division at all? A: A discussion regarding the results of the company was mistaken by a concerned person. As on date, the board has not planned or considered hiving off the paint division. Q: In Q3, your revenues were down by 8% with steel down by almost 23%. Yet, your margins still improved by about 3%. What was the reason for that? A: The paint sales have increased by 57% during the current quarter. Though the steel numbers are down by 23%, in the last quarter, we had a loss in the paint division. This year, the paint division is doing well. The sales have improved by 57%. This is the reason that our numbers are better than the last year. Q: Since your paint division is profitable, would it not make sense to hive-off the entity and create it a new entity. You may not have any plan to hive-off this division in the current fiscal, but is there any plan going forward? A: No. Right now, we don