Financial Daily from THE HINDU group of publications
Wednesday, Jan 04, 2006


News
Features
Stocks
Shipping
Archives
Google

Group Sites

Corporate - Performance


Kerala Minerals achieves record production, turnover

G.K. Nair

Kochi , Jan 3

THE Kerala-based Kerala Minerals and Metals Ltd (KMML), the country's only unit that manufactures titanium dioxide pigment rutile grade, has recorded an all-time high production and sales turnover during April-December 2005.

The production has increased to 25,400 tonnes during the period against 22,000 tonnes in the corresponding period last year. The sales turnover went up by Rs 16 crore to Rs 227 crore compared to Rs 211 crore earlier.

"Given this trend, the total production would come to 35,000 tonnes while the turnover would cross the target of Rs 315 crore," Mr K.P. Rajendran, Managing Director, told Business Line.

The company has achieved this level of production despite the post-tsunami problems still prevailing in the mining areas, he added.

KMML will restrict exports this fiscal to last year's level of 12,000 tonnes in order to cater to the demand of the domestic market. "There is great demand from overseas, but with our existing capacity we are not able to meet it."

For the main customers from the US, China, South Korea, Australia, and West Asia, the product is priced in dollars while for those in Germany, Italy, Turkey, and Spain it is in euros; for the UK it is in pounds.

The current export price is $1,850 a tonne against $1,300 in 2002, which is competitive, he said.

Expansion: In view of the growing demand, the company is expanding its capacity to 60,000 tonnes by August 2006 from 40,000 tonnes currently.

"We are determined to achieve this plant capacity on schedule in our effort to become a truly global player, on par with the world's top producers."

He also said that the company has ISO certifications 9001, 14001, and 18001 and hence its product is acceptable to buyers overseas and its quality matches with that of the world's top producers.

According to Mr Rajendran, it is for the first time in the public sector that the installed capacity has nearly doubled without a huge capital outlay from any external source, along with continuous profit generation and payment of 20 per cent dividend to the State Government continuously for two years now even during the expansion period.

The initial investment in 1985 for the 22,000 tonnes capacity plant was Rs 143.66 crore, including a capital outlay of Rs 30.93 crore.

More Stories on : Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
ITC to invest $1 b in e-Choupal infrastructure


Toyota sells 32,000 units of Innova in 2005
Aurobindo HIV drug gets USFDA nod
Shell LNG terminal loses only customer
Mazda bags Rs 4.3-cr order from Siemens
Igarashi Motors to make pref offer at Rs 214 a share
7.5:100 swap ratio proposed for REVL merger with REL
Total value of M&A, PE deals in 2005 at $18.2 b
Kerala Minerals to produce titanium sponge for ISRO
Royal Orchid plans IPO to fund expansion
Africa promises bed of roses for floriculture sector
D S Kulkarni to develop building projects in US
Eveready Ind forays into mosquito repellent market
Henkel Spic eyes Rs 430-cr turnover
Tatas working on new LCV; production likely from Jan 2007
ONGC facing problems in Sunderbans — Unable to find sites for 3 wells
BCCL achieves breakeven, set to post Rs 70-cr net this year
Eastern Coalfields posts operating profit
Eveready posts 35 pc growth in tea business
Hyundai sales up 17.26 pc in 2005
Kerala Minerals achieves record production, turnover


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line