ERC Shekar, director, Sunflag Iron & Steel says if prices go up by 8-10 percent because of this, then overall it will help improve bottomline. 15 percent of the company's total sales comes from the stainless steel division.
India's trade ministry has recommended anti-dumping duty of USD 309 per tonne on Chinese import, USD 316 per tonne on Malaysian import and USD 180 per tonne on Korean import. Import from these three countries is 30 percent of India's domestic demand.
ERC Shekar, director, Sunflag Iron & Steel says if prices go up by 8-10 percent because of this, then overall it will help improve bottomline. 15 percent of the company's total sales comes from the stainless steel division. The company is functioning at sub-optimum levels in stainless steel business.
Below is the verbatim transcript of ERC Shekar's interview with Latha Venkatesh and Reema Tendukar on CNBC-TV18.
Latha: How much is your stainless steel output as a percentage of your total sales?
A: About 15 percent let me say.
Latha: This anti-dumping duty, how much will it help you raise your prices or what difference will it make to your revenues?
A: First of all we are producing less than our capacity because the market is not there. We will increase by another about 10 percent so we will go to about 25 percent and so the volume will go up because we have throttled production. Number two is prices - if it goes up by 8-10 percent, that is what we expect so, that will overall improve bottom line.
Reema: So, with this anti- dumping duty, would the imported stainless steel—how much more expensive would it be compared to the domestic market?
A: It all depends upon how much is the duty levied. I am not aware how much duty is levied. Once that is clear then perhaps we can conclude.
Latha: What are the chances of some such duty on non-stainless carbon steel products?
A: If it is say, you have alloy steel not stainless. Now if that is also there then bulk of our alloy steel producers are making for automobile sector, different sector etc which is the alloy steel producer - generally do not produce plain carbon steel. So, to that extent generally all these people about 50-60 percent is alloy steel and so it is going to help them and it will help the down stream industry in terms of defence, auto or other sectors.
Stay tuned for more…
Sunflag Iron stock price
On March 12, 2015, at 14:14 hrs Sunflag Iron and Steel Company was quoting at Rs 27.85, down Rs 0.35, or 1.24 percent. The 52-week high of the share was Rs 33.70 and the 52-week low was Rs 18.90.
The company's trailing 12-month (TTM) EPS was at Rs 0.99 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 28.13. The latest book value of the company is Rs 28.92 per share. At current value, the price-to-book value of the company is 0.96.
Anda sedang membaca artikel tentang
Anti-dumping duty to help push profit: Sunflag Iron Steel
Dengan url
https://kesehatanda.blogspot.com/2015/03/anti-dumping-duty-to-help-push-profit.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Anti-dumping duty to help push profit: Sunflag Iron Steel
namun jangan lupa untuk meletakkan link
Anti-dumping duty to help push profit: Sunflag Iron Steel
sebagai sumbernya
0 komentar:
Posting Komentar