In an interview with CNBC-TV18, AN Gupta, CMD, Premier Explosives , talked about the company's revenue expectations for the fiscal gone by and the current one.
Gupta said the company was likely on track for its guidance for Rs 150 crore revenues in FY15 and is targeting sales of Rs 200 crore this fiscal.
Below is the transcript of AN Gupta's interview with Sumaira Abidi & Reema Tendulkar on CNBC-TV18.
Reema: Can you give us a sense how many approvals has Premier Explosives got in the recent approval meet by the licensing panel?
A: We don't know exactly as yet because they have not informed formally which are being approved. However, these are all backlogs. They have been lying with Department of Industrial Policy & Promotion (DIPP) for quite sometime. The new government is taking steps to clear all the pending licenses.
Sumaira: How many licences are you expecting then?
A: In the last licensing committee there were two of them which were approved and we are expecting at least 2-4 numbers would be cleared now.
Reema: Are these applications in the name of Premier Explosives alone or some of them are also in the name of the joint venture (JV) with Bharat Forge?
A: We have a JV with Bharat Forge and not with any other company. Those licenses which have been approved now are only in Premier Explosives' names because for Bharat Forge JV, we have to apply for licenses. But Bharat Forge per se my might have applied for some licenses which have been approved.
Sumaira: Earlier you had guided for revenue target of Rs 150 crore for FY15 but in the 9 months already, revenue growth has been a little bit sluggish. You think you will be able to meet that guidance or could that be under threat?
A: Rs 150 crore certainly, give or take Rs 1 crore here and there. We are collecting data from all over production units which has spread from Tamil Nadu to Madhya Pradesh and Uttar Pradesh. So we are getting the data and probably in couple of days we will have all the information. However, it would be most probably touching that figure of Rs 150 crore.
Reema: What could your revenues look like potentially in FY16?
A: This year, current year had been a little difficult year because the rainy season had been sort of extending as you know even the unseasonal rains coming in and all. Those unseasonal rains and extended monsoon they have effect on the mining activity too. Too much of rain, and mining or infrastructure also suffer a little.
However, next year we hope if the weather and the nature is as good as it should be then there should be a good demand.
Sumaira: Could you quantify what you mean by good demand?
A: We are expecting almost nearly Rs 200 crore for that. Now that defence offtake, recently you must have seen that Akash missile is getting inducted into army and they are taking all 6 quadrants.
So with that we hope that our revenue in or our business in the defence particularly Akash missile, Long Range Surface to Air Missile (LR-SAM) and other things should be increasing.
Premier Explo stock price
On April 10, 2015, at 14:30 hrs Premier Explosives was quoting at Rs 291.50, up Rs 2.10, or 0.73 percent. The 52-week high of the share was Rs 329.70 and the 52-week low was Rs 70.30.
The company's trailing 12-month (TTM) EPS was at Rs 6.42 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 45.4. The latest book value of the company is Rs 64.30 per share. At current value, the price-to-book value of the company is 4.53.
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