Habil F Khorakiwala, Chairman, Wockhardt says that they would be able to maintain their margins going forward and might even be able to slightly improve the margins next quarter.
He adds that overall they will definitely be able to show about 20%-25% improvement on topline and bottomline. Wockhardt Hospitals is looking at options to raise funds including private equity, he further added.
Excerpts from CNBC-TV18's exclusive interview with Habil F Khorakiwala:
Q: Could you just detail what that Rs 28 crore loss is on account of?
A: I think this is a loss because of new MTM guidelines of the auditors, in fact we have a long-term debt and we were covering 50% of our interest hedging it and as of March 31, this was a difference but these are long-term hedges and therefore this is a provision.
Q: That 785 crore sales number that you have reported for this quarter, could you just break it up between geographies and also tell us how much your acquired companies have contributed to this topline?
A: I think basically about 54% of this business is coming from Europe, India is over 30% and US we are doing quite well and it is nearing 8%-9% of a topline this quarter. What is important is if you look at our income statement not only we have improved topline to 50% because of our acquisition of Negma and Morton Grove but equally important our operating profit has also grown 50% and therefore we have brought operations of a new acquisition in line with our overall performance.
Q: Are you holding your CY09 guidance at this point to deliver revenues of USD 1 billion 30%-35% growth?
A: Yes, I think we will continue to show a topline growth because what is seen in Q1 may not happen from Q3 onwards as we had extraordinary percentage of acquisition. But overall I think we will definitely show about 20%-25% improvement on topline and also similar number in the bottomline.
Q: You expect margins to improve as well considerably for Q1 though how has the margin performance been?
A: I think we will be able to maintain the margin and then slightly improve the margin in the next quarter.
Q: I believe you were planning to raise some equity, is that correct and by when do you think you will be able to raise?
A: We have taken enoubling resolution from the last AGM and sometime in the second half of the year we would be raising this equity.
Q: In what form, you will do a straightforward issue?
A: We have not yet finalized that, it could be through various options including private equity or other options. So we will take a call little later in the year.
Q: What is the plan now for Wockhardt Hospitals?
A: For Wockhardt Hospitals we are looking at options to raise fund including private equity
Link to the article: http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=335915
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