Walchandnagar Industries stock is in focus after reporting a weak Q2. In an interview to CNBC-TV18, GK Pillai, MD & CEO of the company spoke about the results and his outlook for the future.
Pillai said we have streamlined our operations and have been looking for a strategic partner for quite some time. That materialised on September 16th, he added.
He further said that we should see impact of fund infusion in Q3. Therefore, hopeful to report profits in Q3 and Q4.
"Infusion of funds from KKR has helped the company. We were able to payback all the long-term loans which were at a very heavy interest," he said.
Talking about projects, he said phase-I of Ethiopian project is complete and we expect payment for order to come in soon.
On debt front, he mentioned that there is no long-term debt on books.Watch accompanying video for more details.