Assam Petrochemicals Limited
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BSE Code:
506267
NSE Code:
Business Profile
Business Profile
Assam Petrochemicals (ASSAPET), incorporated in 1971, is a state-run company engaged in the manufacture and sale of formalin and methanol.
The company has its plant located at Dibrugarh in Assam with installed capacities of 33,000 MTPA formalin and 33,000 MTPA methanol. Pragjyotish Fertilizers & Chemicals is a subsidiary company.
The registered office is located at 4th Floor, Orion Place, Bhangagarh, G.S. Road, Guwahati-781005, Assam.
Financials
The company disclosed a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 59.80% to Rs 16.04 million from Rs 39.90 million in the same quarter last year. Net sales declined 24.70% to Rs 133 million, while total income for the quarter fell 23.81% to Rs 144.03 million, when compared with the prior year period. It reported earnings of Rs 1.76 a share during the quarter, registering 59.73% decline over prior year period.
Future Plans
In FY07, the company submitted a proposal for approval to the state government along with the techno-economic feasibility reports for setting up a 500 TPD methanol project and two gas turbines of 3.5 MW each to generate power for captive consumption at Namrup. As a short term measure, the company is undertaking a 30% capacity increase of the methanol plant and de-bottlenecking with 25% capacity increase of the formalin plant to strengthen operation, reduce cost of production, and avail Northeast incentives for both the plants.