Walchandnagar Ind will also form a JV with Russian company AEM for nuclear business opportunities, as they company MD &CEO GK Pillai sees huge potential in nuclear space.
GK Pillai, Managing Director and CEO of Walchandnagar Industries Limited looks to demerge the company into three different units – manufacturing, engineering procurement construction (EPC) and engineering.
In addition, the firm will form a joint venture (JV) with Russian company AEM for nuclear business opportunities, as they see huge potential in nuclear space, he says in an interview to CNBC-TV18.
Meanwhile, Walchandnagar Industries is also working with PwC to study various defence opportunities, he adds.
Below is the verbatim transcript of the interview:
Reema: The company plans to demerge its business into three separate arms, is that something that the company is for sure going to do? If yes what would the timeline as well as the rationale for it be?
A: The company's philosophy now is that we have been basically an heavy engineering equipment manufacturer. We had also browsed into the EPC sphere so what we are now thinking is the overall business of the company should be in three phases – one our core strength of manufacturing, second in terms of the EPC businesses and third we want to have a separate identified engineering division of the company. These are the three pillars of Walchandnagar Industries (WIL) which you will see in the very near future.
With regard to the demerger as it is we have not firmed up yet but the thought process is there. At an appropriate and opportune time we will be taking a call on it.
Walchandnagar stock price
On January 07, 2015, at 14:13 hrs Walchandnagar Industries was quoting at Rs 183.40, up Rs 14.30, or 8.46 percent. The 52-week high of the share was Rs 190.80 and the 52-week low was Rs 53.60.
The latest book value of the company is Rs 182.31 per share. At current value, the price-to-book value of the company was 1.01.
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