HEG expects prices to rise by 7-8% in Q4; targets 8% volume growth in FY23
In an interview with CNBC-TV18, Manish Gulati, Executive Director, HEG, said that FY23 volume growth for the company is expected to be in the range of 7-8 percent. He highlighted that capacity utilisation is currently at 90 percent. He further mentioned that in Q4, prices may go up by 7-8 percent.
In an interview with CNBC-TV18, Manish Gulati, Executive Director, HEG, said that FY23 volume growth for the company is expected to be in the range of 7-8 percent. He highlighted that capacity utilisation is currently at 90 percent.
"In FY23, volume growth will be 7-8 percent more than what we do now. Our capacity utilization continues to be in the range of 90 percent like it has been in the past two quarters," he said.
HEG recently came out with its Q3 numbers. Gulati explained that topline expansion was primarily due to higher realisations. He further explained that in Q4, prices may go up by 7-8 percent. Additionally, going ahead, he is of the view that FY23 margin should be near the current level.
"Prices continue to increase quarter-on-quarter and we are expecting another 7-8 percent increase between the two quarters. The margins will probably look similar throughout the next year of what we have now," he said.
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On the company’s expansion plans, Gulati mentioned that it will get completed by the end of the year. He explained that capex will add another 5,000-6,000 tonne in the next fiscal.
"We are hoping to add another 5,000 or 6,000 tonne next year, because we are trying to find ways to get some tonnage out of the existing plant. And our expansion is also in full swing and it will get completed by the end of the year. So some volumes are expected from the expansion also," he said.
Watch the video for the full interview.
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