Look to retire Rs 350cr debt this fiscal: Balrampur Chini

Vivek Saraogi, MD, Balrampur Chini in an interview with CNBC-TV18 spoke about the latest happenings in the company and the road ahead.

Elaborating on the company's recent buy back he said, "We have done a combination of buyback and the buyback is 85% complete, so a major chunk over. We have put in little bit of dividend this year. We would now attack on the issue of repayment of loans." The company aims to retire Rs 350 crore debt this fiscal. Below is the verbatim transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying video. Q: Before we talk about the business here and now just want to address one concern specific to a lot of the sugar companies in Uttar Pradesh which is the impending elections and the fact that there may be some kind of change or relook at the pricing for sugarcane. Is that a real threat? A: Every five years this is a threat and every year this is a threat, if I can so put it. But having said that, the government would have to recognize the reality on ground and non-payment of sugarcane price is more of an election negative than raise in sugarcane price which is a positive. Q: State Advised Price (SAP) for this season is about Rs 210. Are you building in, in your calculations some modest uptick in that, because of the election related issues? A: I think so. A modest uptick cannot be ruled out. It is Rs 205 for the general variety and a modest uptick I don