Borosil will benefit from the larger home cooking trend, Shreevar Kheruka, MD & CEO, told CNBC-TV18.
Borosil, a glassware manufacturing company, reported earnings for the March-ended quarter. There is a sharp turn-around in the consumer business EBIT and margins for the scientific business improved.
“Home cooking is a larger trend which is likely to continue and we will benefit from that trend and e-commerce is certainly a strongly growing channel for us,” Kheruka said.
On business, he said, “As the cases wane in the second (COVID-19) wave, it is likely that we will see a stronger bounce back again. I do not see demand having evaporated in the long run. Yes, short-term there will be some pain on the consumer side of the business.”
“On the scientific, we make vials and ampoules and that has seen strong demand because of COVID as well as non-COVID related injectable demand. So this business has headed up even in Q1 and we see strong demand continuing for the rest of the year. Therefore, it’s just a wait and watch on the consumer side and let us see how things go, but we are bullish on the opportunity in the next year as well as for the future,” said Kheruka.
For the entire management interview, watch the video