RV Gumaste, MD of Kirloskar Ferrous said that casting volumes for FY21 will be more than FY20 despite the production loss in Q1. He is expecting a 10-15 percent year-on-year growth.
“Our casting sales this year would be definitely better than last year. However, we lost two months, and in spite of that, overall for the year, volumes of casting would be higher than last year. This year overall we could be better by 10-15 percent in the castings business,” he said in an interview to CNBC-TV18.
However, a recovery is unlikely for pig iron said Gumaste. “The capacity of the blast furnace is limited and we are already running at full capacity utilization on both blast furnaces. So, we will have some volume reduction for the year in pig iron, maybe 10-15 percent lower in the pig iron,” he said.