ML Pachisia, MD of Orient Paper & Industries, in an interview with CNBC-TV18's Ekta Batra and Reema Tendulkar, said that the 35 days slowdown will not make much of a difference.
When asked about the cement plant at Andhra Pradesh, he stated, "Andhra Pradesh has been showing major de-growth in the last April-May. In the Andhra Pradesh market, demand is fairly depressed and the demand continues to be low right now."
"However, Maharashtra is doing much better. We have been trying to make up as much volume from Maharashtra and other markets to compensate the Andhra Pradesh slowdown," he added. Q: You observed a shutdown for 35 days in the first quarter. What sort of impact could be seen in your financials for this quarter because of the shutdown?
A: The shutdown was seen in the paper plant and not in the company. This shut down is for a lesser time than last year. Last year, we had a 93 days shutdown. This shutdown will not make any difference. Obviously, the performance will not be as it should have been if the plant had worked for the full quarter, but it will be better than last year. Q: Do you have any rough calculation on account of this shutdown? What's the kind of losses you faced?
A: No, we have not done anything so far. We will look at it when the quarter ends. Q: With regards to the cement space, how is it panning out for the Andhra Pradesh market?
A: Andhra Pradesh has been showing major de-growth in the last April-May. We have to still wait for the month of June. In the Andhra Pradesh market, demand is fairly depressed. Right now, the demand continues to be low.
However, Maharashtra is doing much better. We have been trying to make up as much volume from Maharashtra and other markets to compensate the Andhra Pradesh slowdown.
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