Key highlights

Automobile industry did reasonably well in Dec'14 quarter and that help the overall improvement in the sales and margins. However there is no clear trend going forward.

Rest of the industries be it engineering, general engineering, construction, infrastructure, ferrous and non-ferrous industries, minerals and mining, glass, special chemicals etc. are operating at lower capacities and that is hurting the overall sales growth and margins.

However tight cost control measures has lead to better margins. Management expects margins can improve if economic activity of the country improves and utilization rates get better.

No capex is planned by the company. As per the management, they are ready and if the economy improves, then will go for some capex.

There are no plans for higher exports and Parent doesn't see the subsidiary as a hub for export markets. Whatever exports happens are to group companies and in Asian geography.

Overall, management expects CY 2015 to be better than CY 2014.