“We will be able to pare debt by Rs 150-200 crore in FY19,” said Rakesh Bhartia, CEO, India Glycols.
The company posted a strong set of earnings in Q4 as good revenue growth and lower costs resulted in margin expansion and higher profit.
Bhartia said that we will be able to achieve similar levels of volume and revenue growth in the current financial year.
Talking about revenue, he said, “The Mono Ethylene Glycols’ contribution to my revenue mix would be about 30%. As far as the other products goes, 40% of my total revenue basket is from, what we call, Ethylene Oxide Derivatives.”
“There again the benchmark price of Ethylene has moved up which get linked to crude. So we see a price increase taking place in the other significant portfolio of products but the pass-through is not as straight forward as the case is in Mono Ethylene Glycols,” he added.