Micro Inks Limited
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BSE Code:
523886
NSE Code:
MICRO
Business Profile
Business Profile
Micro Inks (MICROINK), formerly known as Hindustan Inks & Resins, was incorporated in 1991 and is the flagship company of the Bilakhia group. It is one of the largest ink companies in the country and has presence in liquid inks, resins, adhesives and enamels. The company has established its presence in more than 70 countries.
The company has diversified into a number of related products and has undertaken a backward integration program for manufacturing pigments, flushes, resins and additives which are the critical raw materials for inks. The products are resins, varnishes, pigments, waxes, flushes and printing inks. The company is one of the only three and the second largest manufacturer of Alkali Blue, a special pigment. The main user industries for printing inks are packaging, printing and publishing industry.
The company has its manufacturing facilities in Silvassa, Vapi and Daman. The Silvassa manufacturing facility is one of the largest single-location ink plants in the world. The total installed capacity of printing inks, resins and varnishes, and pigment/flush colors is 203,000 MT, 52,600 MT and 41,500 MT respectively. MICROINK is the market leader (40%) in the USD 200 million domestic ink industry. It also has a track record of one of the fastest growing companies with its annual sales figures galloping from a mere USD 5 million in 1993-1994 to an astonishing increase of USD 146 million in 2004-2005.
Financials
Micro Inks registered a profit of Rs 137.1 million for the quarter ended June 2007.
Net sales rose 8.62% to Rs 2,538.7 million for the quarter ended June 2007 from Rs 2,337.3 million for the quarter ended June 2006.
Total income rose 8.73% to Rs 2,549.1 million for the quarter ended June 2007 from Rs 2,344.5 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 5.51 for the quarter ended June 2007.
Recent Developments
04-JUN-07
The company has commercially commissioned a plant which will manufacture intermediates at the 100% EOU Unit in Vapi having annual capacity of 18,000 MT with an investment of nearly Rs 275 million for captive use.
These intermediates will largely be used in offset printing inks and thereby it will to an extent reduce dependence on external suppliers apart from enhancing printability properties of printing inks.
07-MAY-07
Ashwani Bhardwaj has been appointed as the managing director of the company for a period of five years effective Jan. 31, 2007.
15-FEB-07
Micro Ink GmbH, Austria, a wholly-owned subsidiary of the company acquired 100% equity and preferred stocks in Hostmann Steinberg, Inc. USA from MHM Holding GmbH, Germany, a holding company of the company. Subsequently, Hostmann-Steinberg Inc. USA has been merged with Micro Inks Corporation, USA, a wholly-owned subsidiary of the company effective Feb. 1, 2007. The name of Micro Inks Corporation, USA has been changed to Hostmann-Steinberg Inc. USA effective Feb. 6, 2007.