Indo Rama Synthetics (India) Ltd
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BSE Code:
500207
NSE Code:
INDORAMA
Business Profile
Business Profile
Indo Rama Synthetics India (INDORAMASYN) is the largest polyester manufacturer and exporter with a total of 30% share of India`s exports of synthetic blended yarn. The company was established in 1989 and started with a capacity of 21,120 spindles for synthetic blended yarns in Pithampur, Madhya Pradesh. Today, the plant has a total of 63,696 spindles besides having 25,248 spindles exclusively dedicated to export. Besides having manufacturing capacities in India, the company also has substantial presence in South East Asia with manufacturing facilities located in Indonesia, Thailand, Nepal and Sri Lanka. INDORAMASYN covers diverse fields of polyesters staple fiber, polyester filament yarn and chips, texturized yarn, ..etc. In March 2003, INDORAMASYN spun off its yarn to form Indo Rama Textiles, following which both the organizations had the freedom to concentrate and pursue independent growth strategies within different business dynamics.
The company is working on its expansion project at its Butibori manufacturing site. The project, which includes setting up of a new plant will double annual production capacity of polyester staple fiber and partially oriented yarn from 300,000 tons to 600,000 tons. The expansion project is being carried out with the technology and machinery coming from Zimmer & Barmag, Germany and Aker Kaeverner Power Gas India carrying out the detailed engineering project. INDORAMASYN, which currently that comes second in terms of manufacturing capacity of polyester fabrics next only to Reliance will occupy the leadership position with the commissioning of the facility in mid 2006. The company expects to leverage the emerging opportunities in the man-made fiber sector with the establishment of the plant.
Financials
Indo Rama Synthetics India registered a 4.13% growth in net profit to Rs 22.7 million for the quarter ended June 2007 from a profit of Rs 21.8 million for the quarter ended June 2006.
Net sales rose 45.11% to Rs 6,796.8 million for the quarter ended June 2007 from Rs 4,683.8 million for the quarter ended June 2006.
Total income rose 54.01% to Rs 7,290.4 million for the quarter ended June 2007 from Rs 4,733.7 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 0.17 for the quarter ended June 2007.
Recent Developments
02-APR-07
The board of directors of the company at its meeting held on April 2, 2007 made the following decisions:1. Tsutomu Miyazaki has been co-opted as an additional director with immediate effect.2. The company has commenced commercial production in the new PSF plant for producing an additional 140,000 tons per annum of polyester staple fiber (PSF) w.e.f. March 30, 2007.
16-MAR-07
The PSF plant in Nagpur has been commissioned and trial production in the company`s new PSF lines has commenced w.e.f. March 9, 2007. The commercial production shall commence shortly. Accordingly, the overall polyester production capacity of the plant shall stand increased to 600,000 tons per annum with the commencement of commercial production of PSF lines.
08-JAN-07
The registered office of the company has shifted from Madhya Pradesh to Maharashtra.