In an interview to CNBC-TV18, Vinod Bhageria, MD of Bhageria Industries spoke about the results and his outlook for the company.
Below is the verbatim transcript of Vinod Bhageria's interview to Latha Venkatesh & Sonia Shenoy.
Sonia: You have seen the total income shoot up by 22 percent and the margins have improved. Can you take us through what went through in the quarter?
A: A lot of factories in China have closed down and the sale prices have gone up more than 100 percent, so that has been directly added to operating profit and therefore the margin has gone up tremendously.
Sonia: Can you give us an outlook for what the second half of the year can look like?
A: I cannot predict the second half because the prices are so volatile. However, it will be a good second half.
Latha: You have cash of Rs 65 crore on net worth of Rs 100. What would you do with the money?
A: We are putting up a solar mega plant of 30 megawatt, so we will be utilising the cash for that purpose; instead of taking the money from outside, we will be utilising it from our internal accruals and reserves.
Sonia: Can you give us an update on the progress of the solar plant?
A: Order has been given to parties for construction, for machineries, equipments. However, it will be commissioned by end of February or first week of March.
Latha: You have been reducing your debt. By when do you expect to be debt free?
A: We will be totally debt free in FY18-19.
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