Gallantt sees dent in profits on high imported coal prices

In an interview to CNBC-TV18, Nitin Kandoi, director of Gallantt Metal talks about the latest happenings in his company and the road ahead.

Below is an edited transcript of the interview. Also watch the accompanying interview.

Q: What kind of margin pressure could you face in Q3 due to rupee depreciation?

A: As you know, rupee has depreciated a lot against the dollar. It is playing quite a bit on the coal prices, which is one of our chief raw materials for our plants. The Indian coal is not as per our quality requirement. Therefore, we have opted for imported coal. Rise in dollar prices is causing a bit of concern to our raw material costs.

Iron ore, on the other hand, is stable. It is another chief raw material for us. The price of iron ore is not is not really upward but coal is playing a big role in this and we don