M S Zahed, CMD at HMT, sees a huge jump in terms of profits and turnover this year.
He says that in this particular quarter, they faced some problems in financing through the banks for the tractors, which will be however made up during the next quarter.
Excerpts from CNBC-TV18's exclusive interview with MS Zahed:
We have got your sales figures but there seems to be an operating loss again for this quarter?
In this particular quarter, there were some problems in financing through the banks for the tractors, but these will be made up during the next quarter.
The fourth quarter is generally the best for you and you have not had a great fourth quarter at all. One can hardly see any turnaround in your numbers from this year to last year. When do you think the turnaround that you have been promising will finally happen?
If you look at the net sales, there is a 26% jump vis-a-vis 2005. We have achieved a turnover of Rs 248 crore (Rs 2.48 billion). If you take all the revenues, there is a jump in profits from Rs 5.98 crore (Rs 59.8 million) to Rs 13.27 crore (Rs 132.7 million). The EPS has more than doubled. So
When do you see an operational turnaround because your bottomline has not improved too much at all between the last year and this one?
Coming out of this problem itself is a very big start, which we have achieved. Now after the correction has been carried out, we expect to see a huge jump this year, both in terms of profits and turnover
Have you decided what you have to do with your land?
Since our group has six companies and each company has got its own surplus land assets, these assets will be disposed off by looking into the operations for revival and growth.
How soon will that happen? Do you have a time plan laid out on what you want to do on the land bank that you hold?
This has been going on for 3 years and it will continue for another 2 years, so this is already on
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