Godawari Power & Ispat hits a fresh 52-week high on strong Q1 numbers. The company posts its best-ever EBITDA in a quarter, and turns debt-free.
Speaking on Godawari Power & Ispat's FY22 EBITDA, ED Abhishek Agrawal tells CNBC-TV18 that Rs 1,600 crore is on the conservative side, and it all depends on how the market goes. "It has been three months of the entire financial year, still another 7-8 months to go. I would still say EBITDA should be between Rs 1,600 crore and Rs 2,000 crore given the current market scenario," he adds.
“The correction in the pellet prices have happen mainly on account of monsoon. Because of the monsoon, the demand in India has been subdued and with China, I am not clear on the export policy front, and the production cut. So the prices have corrected less than 5 percent. Earlier, the peak was around Rs 16,000. Currently it is hovering around Rs 15,000, so it not a substantial drop,” he says.
On Godawari Green, he says, “We have a potential buyer on the board. Due diligence is going on and we are hopeful that if everything goes well, we should be able to conclude the deal probably by the end of September or early October.”
“At the moment we would be cash surplus so going forward we want to save that cash for the future projects,” he says, speaking on plans to raise cash.“We have no plans to raise money at the moment,” he adds.
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