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Should do better than Rs 1,200 crore revenues in FY18: Everest Industries

It was a turnaround quarter of earnings for Everest Industries as the steel products business became profitable while EBITDA and profit after tax (PAT) put up a strong show. In an interview to CNBC-TV18, Manish Sanghi, MD, Everest Industries spoke about the results and his outlook for the company.

October 26, 2017 / 10:57 AM IST

It was a turnaround quarter of earnings for Everest Industries as the steel products business became profitable while EBITDA and profit after tax (PAT) put up a strong show.

In an interview to CNBC-TV18, Manish Sanghi, MD, Everest Industries spoke about the results and his outlook for the company.

Things went right both in the steep products and in the building products business. I am more optimistic about the future. The business should go further with the capital investments by the private sector coming in full flow, he said.

90 percent of our sales is to private sector, we do not cater to the government sector at all, he added.

Increase in steel prices has helped us to have better realisations than before. Also, roofing business was positively impacted by good monsoon last year, said Sanghi.

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We don’t face any issues as far as payment in building product segment is concerned. We strictly follow a zero credit policy. All our goods are dispatched only after the money has come in, he further mentioned.

Not seeing any particular slowdown happening on account of goods and services tax (GST), he said.

Demonetisation had hit revenues last year. We should do better than Rs 1,200 crore revenues in FY18, Sanghi added.

For full interview, watch accompanying video...
CNBC-TV18
first published: Oct 26, 2017 10:09 am
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