Not much currency impact on our export at the moment: Gautam Chand Jain, CMD, Pokarna
In an exclusive chat with ET Now, Gautam Chand Jain, CMD, Pokarna speaks about the granite business outlook and other updates.
ET Now: Let us first talk about the currency impact. Being a large exporter of quartz are you feeling the heat of a strong rupee?
Gautam Chand Jain: Yes, we do. We will have some resistance because the foreign markets normally react to currencies also. So, customers start talking about the changes that will affect in the pricing. But it is too early because we are just back from our show in Vegas and there was not so much of disturbance on the price front at the moment.
ET Now: Just to understand the margin impact can you be specific here?
Gautam Chand Jain: No, because right now people have started to realise that the rupee is becoming stronger. We do not think we would like to react at every change in the market because normally our pricing is based on a long term philosophy. So right now, I do not think there is any big impact.
ET Now: Can you also broadly tell us the consumer demand from US, my understanding is that quartz which you make is largely used by the US consumers in order to make the tops of their kitchen. Are you getting a sense that US consumer is making a comeback, is that market opening up because last two or three year have been slightly depressing for US consumer and the European consumer?
Gautam Chand Jain: No, on the contrary, market in US is fairly good. What is happening is people are moving from granite to quartz so market is fairly good, of course there is severe competition from the world because everyone wants to sell in American market but market is much better.
ET Now: Let us first talk about the currency impact. Being a large exporter of quartz are you feeling the heat of a strong rupee?
Gautam Chand Jain: Yes, we do. We will have some resistance because the foreign markets normally react to currencies also. So, customers start talking about the changes that will affect in the pricing. But it is too early because we are just back from our show in Vegas and there was not so much of disturbance on the price front at the moment.
ET Now: Just to understand the margin impact can you be specific here?
Gautam Chand Jain: No, because right now people have started to realise that the rupee is becoming stronger. We do not think we would like to react at every change in the market because normally our pricing is based on a long term philosophy. So right now, I do not think there is any big impact.
ET Now: Can you also broadly tell us the consumer demand from US, my understanding is that quartz which you make is largely used by the US consumers in order to make the tops of their kitchen. Are you getting a sense that US consumer is making a comeback, is that market opening up because last two or three year have been slightly depressing for US consumer and the European consumer?
Gautam Chand Jain: No, on the contrary, market in US is fairly good. What is happening is people are moving from granite to quartz so market is fairly good, of course there is severe competition from the world because everyone wants to sell in American market but market is much better.
