Financial Daily from THE HINDU group of publications
Thursday, Oct 07, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 07, 2004 |
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Industry & Economy
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Minerals KMML H1 turnover up by Rs 7.35 cr G.K. Nair
Kochi , Oct. 6 KERALA Minerals and Metals Ltd (KMML), the grey-gold company in the State public sector, at Chavara in Kollam district has achieved a total sales turnover of Rs 148.21 crore (provisional) in the H1 of the current fiscal as against Rs 140.86 crore in the same period last year. The company was able to sell 15,240 tonne of titanium dioxide pigment rutile grade during Apr - Aug 2004 as against 14,490 tonne in the same period last fiscal. The turnover would have been higher but for the reduction early this year in import duty, which had forced the company to price its product at par with the landed cost of imported titanium dioxide. On the other hand the export price had to be maintained at the international market price and that had been at lower levels, Mr K.P. Rajendran, Managing Director, KMML told Business Line on Wednesday. He said that the company's export had also gone up to 4,588 tonne from 2,150 tonne. During the last six months it could add 10 more countries including Japan and New Zealand to its export market, which has now gone up to 33. KMML has chalked out a long-term strategy to build up a solid export market spread over several countries, which could absorb at least 50 per cent of its production that is being gradually raised to one lakh tonne a year, he said. The net profit, he said, for the H1 is provisionally Rs 22.20 crore. "We have broken all the previous monthly sales records and achieved the new record of 3,934 tonne in Sep 2004." He said that the ilmenite production has gone up from 24,672 tonne to 26,004 tonne during H1 of this fiscal. Similarly, zircon production has also increased to 874 tonne from 763 in Apr-Sep 2003-04. The company has fixed a target of Rs 300 crore for the current fiscal as against the turnover of Rs 267.60 crore in 2003-04.
More Stories on : Minerals | Kerala
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