Orient Refractories is seeing strong demand from cement and steel sectors, Parmod Sagar, MD & CEO, told CNBC-TV18.
“The steel and cement industries are doing exceptionally well. So, I do not see any reason to reduce the prices. Rather, there is a supply chain issue from destinations like China Turkey, Europe- container availability, all the dynamics changing day-by-day. Therefore, there is no need for a price reduction rather we are asking for a price increase,” he said.
On exports, Sagar said, “It is (export contribution) 26 percent as of now, and we think it will go up further to 32-35 percent.”
He further said that the company is looking at bringing in some value-added products to the Indian listed entity.
“We have a very ambitious growth plan. We are expanding capacity and modernising all of our three plants and we are bringing in some high-end new products into the Indian markets which, at present, we are not making in India. We are also pushing for digitisation, automation, robotics etc.,” said Sagar.
He further said that the company will spend Rs 350-400 crore for capacity expansion, which will be funded through internal accruals.
For the entire management interview, watch the video.