According to Kapil Mehan of Zuari Agro Chem with gas pooling the cost of gas is likely to go down to USD 11-12 per mmBtu.
The Union Cabinet Tuesday approved gas pooling for 30 urea manufacturing units in the country. The move would allow sale of gas at a composite price arrived at by pooling gas. This would be a very positive step for the industry as a whole and specifically for the nitrogenous industry said Kapil Mehan, MD & Group CEO, Zuari Agro Chem in an interview to CNBC-TV18.
The move will not only help reduce the working capital but will also pave the way for further reforms in terms of pricing, subsidy etc., Mehan said.
The single price will be a will help level the cost diversity between different units, which was impacting the industry adversely, said Mehan.
According to him the cost of gas is likely to go down to USD 11-12 per mmBtu (million metric British thermal units). The company at presents operates at a cost of USD 20 per mmBtu.
Interview transcript to follow
Zuari Agro Chem stock price
On April 01, 2015, at 09:20 hrs Zuari Agro Chemicals was quoting at Rs 248.80, up Rs 19.70, or 8.60 percent. The 52-week high of the share was Rs 309.50 and the 52-week low was Rs 124.05.
The company's trailing 12-month (TTM) EPS was at Rs 35.28 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 7.05. The latest book value of the company is Rs 191.56 per share. At current value, the price-to-book value of the company is 1.30.
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