Walchandnagar Industries posted a good set of earnings in Q1 as margins expanded and there was a reduction in losses. In an interview to CNBC-TV18, G K Pillai, MD & CEO of Walchandnagar Industries spoke about the results and his outlook for the company.
In Q1 we did Rs 88 crore. Its 15 percent more than the same quarter previous year, said Pillai.
He further said that margins are under stress because of improvement in terms of material cost and operation cost.
"We are looking into strategic fund infusion, which is almost in the final stage," he mentioned.
On engineering, procurement and construction (EPC) front, he said in terms of EPC segment - the sugar, cement and cogeneration (cogen) power- we are slowing withdrawing because these lines are not in tune with company's overall policies.
Walchandnagar Group all along has been looking into areas which are more of demand for the national building and today defence, nuclear and aerospace (DNA) becomes strategic area for us, he said.
Our focus will be on manufacturing sector and not the EPC segment and this will help us improve our bottomline to a large extent, he further mentioned.Watch accompanying video for more details.