Borosil expects raw material price inflation to stay till end of year
Borosil posted good revenue growth in Q3FY22 but raw material cost hits margin. The company also announced a demerger. Shreevar Kheruka, MD and CEO at the company discussed this further.
Borosil Glass Works Ltd posted strong sales growth in Q3FY22, but raw material costs dragged down margins. A demerger was also announced by the corporation. Shreevar Kheruka, the company's MD and CEO, discussed this further with CNBC-TV18.
The firm has witnessed a significant increase in raw material price inflation, which is not expected to decrease in the next six months, according to Kheruka. He stated that it will be here at least until the end of the year.
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To offset this raw material price inflation, the corporation has announced price hikes beginning this quarter. According to him, price hikes will vary between 8 and 16 percent.
Consumer and scientific divisions are also part of the corporation. Consumer and scientific divisions are also part of the corporation. Because the teams have been autonomous for a long time, they function as two different businesses. Both firms are seeing significant volume increase. So the company is looking at demerging the two businesses – Borosil Ltd will remain the consumer arm of the business and the other entity will also be listed under the name of Borosil Scientific.
For the full interview, watch the accompanying video
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