The KCP stock hit a 52-week high with a 16 percent gain this week. In an interview with CNBC-TV18, GN Murty, CFO of the company spoke about the latest happenings in his company and sector.
Company is primarily operating in Andhra Pradesh (AP).
We are not affected by sand mining issue. There is an increase of Rs 2 in cement prices but they are lower than Q1, he said.
On sugar business, he added that the company has completed its first phase of expansion and it is already operational. We are further enhancing the capacity in Vietnam which will be completed in a year’s time from now, said Murty.
Speaking about the expansion on cement business, he mentioned, we are expanding in India, which will be operational by October 2018.
According to him demand continues to be better than last year.
Engineering business is being aided by ‘Make in India’ campaign and we hope to do better there. The hotel is located in Hyderabad and the occupancy level has shot up. Right now, we are not planning for any sale of any asset, he said.
Company has Rs 360 crore of debt on the books currently.
For full interview, watch accompanying video...
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