Expect Q4 to be normalized; reducing dependency on Chinese imports: Kiri Industries

Kiri Industries’ volumes in the third quarter of fiscal 2021 have seen a sharp sequential jump. The company’s Q3 earnings were better than previous quarters and going ahead it expects Q4 to be a ‘normalized’ quarter.

“Q3 was much better compared to earlier quarters and expects Q4 to be a normalized quarter. We expect a topline of Rs 270 crore and EBITDA of Rs 25-30 crore in Q4,” Manish Kiri, MD, Kiri Industries said.

The company projects the March quarter topline to be near Rs 270 crore and EBITDA of around Rs 25-30 crore.

“So that is the number which would be almost normalized number on the standalone basis,” Kiri said in an interview to CNBC-TV18.

Kiri added that the domestic sales have ramped up and exports too are increasing.

“Our exports are increasing and domestic sales has also ramped up. Demand has recovered almost similar to last year levels and prices have improved compared to last quarter. Based on the combination of the order book and the improvement in the margin, we view this quarter to be optimistic quarter and it would help the financial year to end little bit better than what we expected,” he said.

He also said that the company was trying to reduce dependency on Chinese imports and had started the expansion of certain chemicals.