In an interview with CNBC-TV18, Surinder Kanwar, CMD, Bharat Gears spoke about the latest happenings in the company.
Below is the verbatim transcript of Kanwar's interview with Latha Venkatesh and Gautum Broker of CNBC-TV18. Also watch the accompanying video. Q: If you can take us through what has seminally changed? We know that you have redeemed cumulative redeemable non-convertible preference shares that reduced the debt of the company - when did this happen and how much does that bring down your debt by? A: We have retained roughly 50% of our Rs 2.08 crore we have done Rs 1.04 crore this year on March 31 and the next will be done on March 31 of 2012. Q: What is the debt on the books now and how much has it fallen from a year ago levels? A: It is basically Rs 0.9. Q: 0.9 is your debt equity? A: Yes. Q: Can you give us an idea of what is the aggregate debt at all? A: Roughly 0.9 less than 1. Q: What is the likely reduction when you say by March 2012 would it fall very seminally from these levels? A: It will be totally zeroed. But, the debt will not fall but our preference which we have borrowed that will become zero but that will be raising little bit more. But, we will be within the same amount, it is not going to go up further. Q: What are you expecting to do by way of revenues in FY12 itself. There were some expansions that were announced. What is the kind of expansion and will you be raising any money for that? A: No. We are going to raise basically from accruals and some borrowings keeping with the same debt which we are running today within the same group not more than that. Q: By how much would this expand your total capacity by and by when do you expect this to commission this new capacity? A: We have already started investing and by June we will be full equipped for roughly 15 to 20% will go up further. Q: Your margins have also improved. What is the reason for that, what kind of operational efficiencies you are looking at and also if you can throw light on what is happening actually to the stock in the secondary markets? A 50% movement in the last few daysDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
