Murli Industries Limited
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BSE Code:
519323
NSE Code:
MURLIIND
Business Profile
Business Profile
Murli Agro Products Ltd. is a group company of the Nagur based Maloo Group. The company has interest in two main business lines, agro products and paper and pulp mill. Under its agro products business, the company produces filtered soya bean refined edible oil. This product is marketed under the brand name of Rasila, mainly in Maharashtra and Chattisgarh. De-oiled cake, a major by-product in the process of production of oil, is mainly exported to South East Asian countries and is also sold in many states in India. The company has two solvent extraction plants, one with a soya crushing capacity of 400 tonnes per day (TPD) and an oil refinery of 100 tonnes; the second one has 800-tonnes-per-day crushing and 150-TPD refinery capacity. Under its paper and pulp mill business, Murli Agro products manufactures duplex paper, newsprint paper and writing and printing paper. Duplex paper is manufactured by processing and recycling waste paper imported from western and middle eastern countries. This paper is mostly used in packaging of FMCG products. The company manufactures newsprint paper and supplies to publication houses such as Indian Express, Eenadu and Rajasthan Patrika. It also manufactures a variety of writing and printing paper like super bright, cream wove and map litho.
Financials
The company disclosed a sharp drop in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company declined 44.62% to Rs 86.14 million from Rs 155.54 million in the same quarter previous year. Net sales declined 39.71% to Rs 1,344 million, while total income for the quarter fell 39.68% to Rs 1,348.00 million, when compared with the prior year period. It posted earnings of Rs 8.41 a share during the quarter, registering 44.63% decline over prior year period.
Future Plans
The company is in the process of setting up a greenfield cement plant. The plant will be set up on 847 hectares of land at village Nandgaon in the Chandrapur district of Maharashtra. The plant is expected to have a capacity of 2.14 metric tonne per annum, with a 30 mega watts captive power plant. Murli Agro has also undertaken a Rs 440 million project of enhancing its pulp mill. It has received all the machineries for the project and the plant is expected to get commissioned soon.