Century Enka Limited
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BSE Code:
500280
NSE Code:
CENTENKA
Business Profile
Business Profile
Century Enka is engaged in the production of nylon and polyester filament yarns, industrial yarn and nylon tire cord fabric. Established in 1965, the company is a joint venture of B. K. Birla group and the Accordis group (formerly Akzo Nobel) of Netherlands. The chairman of the company is B. K. Birla.
The company produces jumbo beams, specialty yarns, industrial/fiber grade chips, industrial yarns and tyre-cord fabrics. Its yarns are used as reinforcing material in tyres, conveyor belts, V-belts, hoses, ropes and cordage, and broad and narrow wovens. After completing the first phase of modernization, the company launched draw warper jumbo beams for the first time in India. The product is focused for manufacturing of premium fabrics made from zero twist-sized warp yarn on hi-tech German make draw warping machines.
Its three plants are Century Enka in Pune, Maharashtra; Konkan Synthetic Fibres in Mahad, Maharashtra; and Rajashree Polyfil in Bharuch, Gujarat. The company has an installed capacity of 110,000 tons per annum of nylon chips/NFY and polyester chips/PFY and a 12,000 tons per annum capacity of industrial filament and tyre-cord fabric. The nylon tyre-cord fabric (NTCF) project for 8,000 MT per annum is to take the NTCF capacity of the company from 14,000 MT to 22,000 MT per annum.
Its registered office is at Birla Building, 7th-Floor, 9/1, R. N. Mukherjee Road, Kolkata-700001 and head office at Bakhtawar, 7th Floor, Nariman Point, Mumbai-400021.
Financials
Century Enka registered a steep drop of 43.06% in net profit of Rs 32 million for the quarter ended June 2007 from a profit of Rs 56.2 million for the quarter ended June 2006.
Net sales rose 15.73% to Rs 2,650.4 million for the quarter ended June 2007 from Rs 2,290.1 million for the quarter ended June 2006.
Total income rose 16.33% to Rs 2,682.5 million for the quarter ended June 2007 from Rs 2,306 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 1.6 for the quarter ended June 2007.
Recent Developments
01-NOV-06
Acordis Overseas Investment an associate of Dutch company Acordis, sold its entire stake in the company. Earlier in February, Acordis BV had sold 4.49% of its stake. Acordis BV, also sold around 2.08% stake of the company`s total paid up capital through open market transactions from Jun. 19 to Aug. 11.