Key highlights

• During Sep'12 quarter, there was an MTM forex translation gain of Rs 192 crore and Impairment loss on investment on domestic retail subsidiaries to the tune of about Rs 92 crore, net to net EO gain stands around Rs 100 crore.

• So far no decision has been taken on the UK subsidiary and no provision is required as on date. However management will take action if any is required and the sale mandate of the subsidiary is already done, better clarity will emerge before Mar'14.

• During the quarter, the OPM was under pressure and came down to around 26.7%. The sale of high margin home textiles stood at about 12%. Management stated that there could be seasonal fluctuations on sale of home textiles. Also the focus of the company is to increase the volume and grab the market share. Margins can come down slightly from current levels going forward.

• Also the company outsources some of the activities in apparel manufacturing and follows multi channel distribution model. So margin can remain slightly lower going forward.

• Management expects unprecedented demand for Indian textile industry and India's share in total textile exports to double to 8% by the end of this decade. Alok being fully integrated player will grab the market share and markets.

• Capex of about Rs 300 crore in incurred in H1 and another Rs 300 crore is planned for H2 FY'13.

• As far as real estate business is concerned, so far in Lower Parel property, about 14.5 M sq feet is sold off, of the total 20 M and for 2^nd property, 4 floors already are sold off and enquiries are running strong. About Rs 800 crore worth of money is what is to be received of the sold properties of which Rs 150 crore so far is received and remaining will be received every month before Mar'13.

• Average interest cost on debt is about 10% for the company.