We are expecting a lot of good orders in the oil and gas sector from GAIL: Neeraj Kumar, Jindal Saw

We are expecting a lot of good orders in the oil and gas sector from GAIL: Neeraj Kumar, Jindal Saw

In a chat with ET Now, Neeraj Kumar, CEO, Jindal Saw said that, “the spike in the raw material prices in the last quarter has resulted in this temporary fall but hopefully during this year we would be able to pass in all these increases to the customers.” Edited excerpts:

ET Now: Tell us what is really the reason for this fall in pipes production in the quarter, what were your average realisations?

Neeraj Kumar: If you see Q4 last versus Q1 this year, that is not the correct benchmark that you should be looking at because typically if you see Q4 has always been the best quarter for Jindal Saw primarily because we have government contracts and therefore in Q1 there are issues with budgetary allocations etc and therefore the right benchmark to compare is the Q1 last year. And there if you see then the top line has actually marginally gone up but we have seen a drop at the PBT or at the EBITDA level that is primarily because of the rise in the raw material prices. The raw material prices as a percentage to turnover, if you see, has gone up 6% or so.

 

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Credits :- ET Energy World

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