Interviews
Contrarian in industry: Maharaja Mills does it again
19 Jun '09
8 min read
F2F: Industry is slowly getting released from the grip of economic downturn. Tentatively, what could be timeline when the industry would get fully recovered? What all would be immediate behaviour of market as the upshots of this recovery then?
Mr Yogesh Bangur: After a series of declining IPP data, one month positive picture should not be construed as something great. The stability in the political arena certainly ignites the requisite optimism but one needs be realistic. The never-so-strong decoupling theory of economic dependence was an outcome of optimism and therefore, died sooner than later. Unless the specific growth agenda starts getting executed, we don't foresee a great revival. In our opinion, we need to be cautious for next 24 months. Only in the 2nd half of 2011, we could look for a realistic revival in real terms. We are happy with the change in the moods of the industry leaders. We think, a mere announcement of a project or a policy can bring the cheers, not the benefits that are badly needed and would normally be visible after strict timeline based execution. What the industry needs is not the cheers but the customer back in market and we would keep the fingers crossed for permanent buoyancy in next 2 years.
F2F: So, how does this pair envisage fiscal year 2009-10 for industry in general?
We hope, the Government would be able to announce its agenda in the correct perspective that was otherwise kept in abeyance due to political reasons. If stimulus measures are provided with lesser stress on “subsidy” and more focus on “development based incentives”, the industrial reaction would be positive. We all grow in chain. Business verticals would grow only if the disposal income increases and fiscal measures should aim at “volume game” rather than “niche pricing” to support consumer come back to market. We hope, overall industrial performance would be better than the previous financial year.
F2F: Any Profit guidance for the following financial year?
At this point of time where too many unknown things are happening across the industries and nation, setting specific goals would be dependent upon too many assumptions. Ours is a young and dynamic team that has competence to tackle the situation as it comes across. We don't want to limit ourselves to any target. Our only mantra is to do better than what has been achieved, try to do better than what others are doing. We are attempting to be a different organisation with the same set of objectives that the others have got. Last many quarters have seen us perform better on YoY basis and we should endeavour to maintain the tempo.
For Year Ended March Financial Results Click here.
Mr Yogesh Bangur: After a series of declining IPP data, one month positive picture should not be construed as something great. The stability in the political arena certainly ignites the requisite optimism but one needs be realistic. The never-so-strong decoupling theory of economic dependence was an outcome of optimism and therefore, died sooner than later. Unless the specific growth agenda starts getting executed, we don't foresee a great revival. In our opinion, we need to be cautious for next 24 months. Only in the 2nd half of 2011, we could look for a realistic revival in real terms. We are happy with the change in the moods of the industry leaders. We think, a mere announcement of a project or a policy can bring the cheers, not the benefits that are badly needed and would normally be visible after strict timeline based execution. What the industry needs is not the cheers but the customer back in market and we would keep the fingers crossed for permanent buoyancy in next 2 years.
F2F: So, how does this pair envisage fiscal year 2009-10 for industry in general?
We hope, the Government would be able to announce its agenda in the correct perspective that was otherwise kept in abeyance due to political reasons. If stimulus measures are provided with lesser stress on “subsidy” and more focus on “development based incentives”, the industrial reaction would be positive. We all grow in chain. Business verticals would grow only if the disposal income increases and fiscal measures should aim at “volume game” rather than “niche pricing” to support consumer come back to market. We hope, overall industrial performance would be better than the previous financial year.
F2F: Any Profit guidance for the following financial year?
At this point of time where too many unknown things are happening across the industries and nation, setting specific goals would be dependent upon too many assumptions. Ours is a young and dynamic team that has competence to tackle the situation as it comes across. We don't want to limit ourselves to any target. Our only mantra is to do better than what has been achieved, try to do better than what others are doing. We are attempting to be a different organisation with the same set of objectives that the others have got. Last many quarters have seen us perform better on YoY basis and we should endeavour to maintain the tempo.
For Year Ended March Financial Results Click here.
Maharaja Shree Umaid Mills Ltd
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
