VIP Industries confident of achieving strong topline growth

Dilip G Piramal, chairman, VIP Industries in an interview with CNBC-TV18 spoke about the latest happenings in the company and the road ahead.

Below is the verbatim transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video. Q: Where have things reached with plans to sell your stake in Windsor Machines? What kind of valuations do you think it might fetch? A: There is no such plan; I do not know where this news has come from. Windsor still is a BIFR company. Our rehabilitation plans have been approved and there will be a new partner who is coming in Renaissance Group but, I am not selling any of my stake. Q: How much stake do you hold in Windsor Machines both via the company and in your personal capacity? A: It was about 43-44% and in the new plan it will become diluted. Q: So, there is no truth to the fact that Renaissance Equipment may be looking to buy that stake for you, you are looking for a deal value of somewhere upwards of Rs 100 crore? A: No not at all. Q: What is the eventual plan with Windsor Machines, what does VIP intend to do with it? A: It is too early to say. VIP stake is very small in it but it should be a good company. The business is good and the outlook is quite good. Let the company do well and let it appreciate and then we can think of any further steps that time. Also Read VIP Industries eyes more market share with new products