India Glycols is concentrating on consolidating its business and has no plans to raise capital, says Rakesh Bhartia, CEO of the company.
India Glycols is likely to consider action against NSEL issue based on government steps and has not yet made any provision on bourse's exposure, says CEO Rakesh Bhartia.
Rakesh Bhartia, CEO of India Glycols says the company through its subsidiary has expsoure to NSEL at Rs 125 crore. Total recovery from NSEL is only 3 percent, he adds.
India Glycol bottom-line which in the second half last year saw phenomenal expansion and already this year have surpassed the figure for last year.
Rakesh Bhartia, CEO of India Glycols, in an interview with CNBC-TV18's Latha Venkatesh and Gautam Broker, gave his perspective of the fourth quarter performance and their divulged future plans.
India Glycols has registered for Gorakhpur plant with the United Nations (UN) for carbon credits. In an interview with CNBC-TV18, Rakesh Bhartia, CEO, India Glycols said, "We are looking at about 100,000 CARs (or CRs) per annum."
Monoethylene Glycol (MEG) prices have shot up to USD 250 per tonne in the past two months. In an interview with CNBC-TV18, Rakesh Bhartia, CEO, India Glycols spoke on the recent spike in prices and gave his outlook on margins going forward.