Author: Mitali Mohite

Expect margin improvement of 100 bps in FY19: Century Plyboards

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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CLSA note says India’s furniture market is undergoing a major shift with a move towards readymade furniture and a rising preference for medium density fibre (MDF) over plywood in line with the global trends.

In an interview to CNBC-TV18, Keshav Bhajanka, ED of Century Plyboards spoke about the MDF market and latest happenings in the company.

We expect Rs 125-130 crore revenue from MDF in FY18, said Bhajanka.

He further said that MDF market in India is estimated to be at Rs 2,000-2,200 crore as of FY18.

Therefore, we expect to have more than 5 percent market share in MDF industry, he added.

According to him, the total MDF production in India is at 1 million cubic metre versus 40 million cubic metre in China.

Talking about business, he said we expect margin improvement of 100 bps in FY19.

For entire interview, watch accompanying video.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Targeting Rs 1000 cr topline by 2020 from consumer business, says Prabhat Dairy

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prabhat Dairy is looking at Rs 1,000 crore topline from consumer business and Rs 2,000 crore from total business by 2020, said Vivek Nirmal, Joint MD of the company.

Nirmal said that the milk prices have corrected 15 percent in last one year.

When asked about private equity investors, he said “I am not aware of any private equity investors looking to exit company.”

The promoters of the company are claimed to be holding more than 50.1 percent stake and reportedly have no plans to sell stake in the company.

“We expect Rs 250 crore topline from cheese business over next one year”, Nirmal mentioned.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Exports cannot improve if states don’t participate: Suresh Prabhu

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A three day Global Investor Summit, Magnetic Maharashtra Convergence 2018 was held on Feb 18th and 20th in Mumbai.

Lauding the Maharashtra government’s objective of focusing on export oriented industrialization, Commerce Minister Suresh Prabhu said, “I had called a meeting of trade ministers, chief ministers to discuss how states can drive exports of India. If the states don’t participate in it, it is not going to happen in a big way. I am happy that Maharashtra is the leading exporter of goods and services but I want to see the state playing an even bigger role.”

The minister said that apart from production, there are two other major factors required for better exports which are transport connectivity as well as digital connectivity.

The objective of the summit was to attract business investments, both global and domestic so as to transform the state’s economic landscape and in the process, achieve government’s vision of making it a trillion dollar economy.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Have put entire stake in Can Fin Homes on the block, says Canara Bank

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Canara Bank will be going ahead with commercial bids for their stake in Can Fin Homes today, PV Bharati, Executive Director of Canara Bank told CNBC-TV18.

All non commercial bidders will place their commercial bid. Non commercial bidders from the listed entities are HDFC, RBL Bank, Bain Capital, Blackstone, Temasek and Bearing Capital. After receiving bids, top three bidders will be called tomorrow. While, announcement of top bidder will be made after a decision is taken in consultation with a sub-committee or board.

With this, the bank is looking to monetize its non-core investments, one of which is Ca Fin homes with 30.44% stake.

“Today is the big opening day and the procedure should be completed before 31st of march. We are very positive on valuation. We look forward to a good rate from the market”, said Bharati.

Apart from Can Fin Homes, the bank has put Can Factors and Can Computer Service Ltd for bids, however, it is yet to decide a date on the same.

Talking about LoU ban, she said “We don’t see much impact on bank due to ban on Letters of Undertaking.”

On NPA resolution circular, she said that the bank was expecting accounts worth Rs 3,000 crore to be resolved.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow