Financial Daily from THE HINDU group of publications
Saturday, Aug 02, 2003
Financial Daily from THE HINDU group of publications Saturday, Aug 02, 2003 |
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Corporate Results
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Engineering Alfa Laval net rises to Rs 31 cr Our Bureau
Pune , Aug. 1 THE Pune-based Alfa Laval Ltd, an engineering company with products such as separators, decanters and centrifuges, is targeting revenue of Rs 400 crore for the current calendar year. The company had recorded a turnover of Rs 290.56 crore for the year ended December 2002. Mr Satish Tandon, Managing Director, said, the company for the first six months of the current calendar year has posted 51 per cent increase in net profit at Rs 31.3 crore. Net sales and income from operations were Rs 182.9 crore, recording a growth of 25 per cent over the corresponding period last year. The board of directors has declared an interim dividend of 100 per cent (Rs 10 per share) aggregating Rs 18.16 crore for the year ended December 2002. He said the company has recorded a growth of 30 per cent in revenue as compared to the six months of the previous year. He said the company has exported distillery plants to Indonesia and Thailand, which have already been commissioned. Another project in Vietnam is to be commissioned by mid-March next year and the value of this project is Rs 23 crore. The company is expecting a few orders from Thailand, Columbia and Africa during the current calendar year. The projected turnover from these orders will be close to Rs 115 crore. Mr Tandon said Alfa Laval is also looking into new technologies in the area of ethanol, starch and biotech. In the area of ethanol it was looking at producing alcohol from wheat and corn. The company has a collaborator - Katzen of the US - for this technology. It is also in talks with a Nigerian company for baker's yeast and the capacity of production of yeast of that plant would be about 150 tonnes per day. The domestic market has a couple of players who have a capacity of 25 tonnes per day. As part of diversification, it is also looking at distillation design for alcohol plants, he said. As for the new products to hit the market, both domestic and global, he said the company already has an export hub for six models of separators and added two more new models during the current calendar year.
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