Speaking to CNBC-TV18, Gurnam Arora, Joint MD of Kohinoor Foods said that exports from Iran had stopped since last three months. However, he expects Iran to start importing from India in January.
The company has a strong order book for FY17 which will propel margin expansion, Satnam Arora, Joint Managing Director of Kohinoor Foods, told CNBC-TV18.
Speaking to CNBC-TV18, Satnam Arora, MD of Kohinoor said that the company has large orders in hand currently and it plans to spend on promotions and advertisements world over.
In an interview with CNBC-TV18, Satnam Arora, MD of Kohinoor Foods, which reported a mixed set of quarterly earnings, discussed the numbers and shared his outlook on the business going forward.
In an interview with CNBC-TV18, Satnam Arora, Mangaing Director of Kohinoor Foods said lower stock cost and increased exports will help in volume and income growth.
Speaking to CNBC-TV18, Arora says value of the company‘s export revenues declined due to pricing issue.
Basmati rice exports increased by 27 percent from Rs 296 crore to Rs 375 crore and foods sales have increased by 24 percent from Rs 32 crore to Rs 39 crore said Gurnam Arora of Kohinoor Foods.
Gurnam Arora, Joint Md, Kohinoor Foods is confident of achieving FY15 projected revenues of Rs 1500 crore and more.
Satnam Arora, managing director, Kohinoor Foods says he is seeing an uptick in Basmati and long grain rice exports to Thailand.
Satnam Arora, MD of Kohinoor Foods in an interview with Ekta Batra and Reema Tendulkar on CNBC-TV18 said FY15 profits could be to the tune of Rs 18-20 crore.
Satnam Arora, MD, Kohinoor Foods expects the turnover to be between Rs 1300-1400 crore for the year and so, hope to end FY14 with a profit of Rs 25 crore.
Soaring basmati prices dont auger well for us because we may not be able pass high price to key export markets like Iran, says Gurnam Arora, Joint MD, Kohinoor Foods.
Kohnioor Foods is optimistic of a better exports of Basmati rice going forward. This is on the back of Russia lifting the ban on import of rice from India and export-oriented policies being made.
Exports of Basmati rice will be good this year on the back of good monsoon, says Satnam Arora, joint managing director of Kohinoor Foods.
Kohinoor Foods Ltd in Delhi, is going to issue preferential shares upto 20 percent. Each share will sell at a premium of Rs 160. They are also getting a confirmed business of 25000 tonne of rice from the Dubai Joint Venture.
Gurnam Arora, JT MD, Kohinoor Foods,speaks to CNBC-TV18 about the impact on the export of Basmati rice in the US due to residual pesticides being found in the samples. The US authorities have issued an import alert and a detailed scrutiny of every grain is taking place
Satnam Arora, MD, Kohinoor Foods said, "We are hopeful that this year again we will be getting about 25 percent increase in branded sales worldwide."
With expectations of basmati export touching about 3 million tonne and export of non-basmati another 5-6 million tonne, Gurnam Arora, joint MD of Kohinoor Foods informs that India will be the largest export of rice in the continent.
Yesterday, an Empowered Group of Ministers (EGoM) allowed export of non-basmati rice up to four million tonnes. In an interview to CNBC-TV18, Gurnam Arora, joint managing director of Kohinoor Foods says, EGoM decision will aid exports.
Due to the minimum export price (MEP) determined by the government, Gurnam Arora, joint managing director of Kohinoor Foods Ltd tells CNBC-TV18 that the industry is taking a hit of almost 30% on exports.
In an interview to CNBC-TV18, Gurnam Arora, joint managing director of Kohinoor Foods says, the sector has requested the government to abolish minimum export price (MEP) because it is not required now. “The export is hampered because of the MEP,” he adds.
Gurnam Arora, joint managing director of Kohinoor Foods, in an interview to CNBC-TV18, said that the government’s approval on non-basmati exports have put a cap on rising food prices.
Satnam Arora, managing director, Kohinoor Foods in an interview to CNBC-TV18 said, its joint venture (JV) with McCormick is a win-win situation for the organisation.
The rice stocks have been quite active today. They have been doing very well in trade. Anil Mittal, CMD of KRBL and Gurnam Arora, Joint MD of Kohinoor Foods, in an interview with CNBC-TV18's Anuj Singhal and Sonia Shenoy, gave their perspective on the rice stocks and how the are expected to do going forward.
Kohinoor Foods has reported a net loss of Rs 11.9 crore for the quarter ended December 2010 as against a profit of Rs 5.1 crore in the same quarter the previous year. In an interview with CNBC-TV18, Satnam Arora, MD, Kohinoor Foods gave his perspective on the quarter gone by and the road ahead.