Is Gujarat Ambuja planning a bond issue, keeping in mind the low interest rates?
Gujarat Ambuja does not have any capex plans. It does not need capital, while cash flows are good. So I do not think we will be frequent issuers of bonds. In the last nine months, we retired all loans and went for bonds. In March 2002, we were the third largest bond issuers in India after Reliance and Panatone. Do you foresee a cartel in the cement industry? A cartel can happen when you can take the prices to unsustainable levels and still sustain them. But cartelisation in the Indian cement industry can never happen. In fact, right now there is a cartelisation from the buyers` perspective ! Is the supply of cement in India in excess of demand? I can assure you that there will never be a shortage of supply of cement. The question of supply being in excess is cropping up only because cement prices are low, especially in Maharashtra and Gujarat. In the rest of the country, the prices are stable. On the pricing and demand-supply outlook, the eastern region is doing very well. Demand has b
