Tata Metaliks' Impressive 9-Months' Results
Tata Metaliks has reported an impressive PBT of Rs. 67.30 Crores for the 9 months' period ended December 31, 2007, as compared to Rs.19.78 Crores during the corresponding period of F.Y. ’06-’07 (240% increase). The turnover for the same period has clocked Rs.829.56 Crores, a significant 53% increase over the corresponding period in the last year (Rs.542.66 Crores). The Company, with its 5 operational MBFs, 2 at Kharagpur and 3 at Redi, produced 397,709 tonnes of Pig Iron for the period ended December 31, 2007, compared to 301,946 tonnes of Pig Iron, during the corresponding period during of F.Y.’06-’07.
The despatch during the reporting period was 378,895 tonnes of prime Pig, as compared to 296,677 tonnes of the preceding year.
The financial results for the 9 months’ period of the ’07-’08 fiscal were approved by the Board on January 11, 2008, after which the Chairman reiterated that the Company is progressing steadily towards its goals of reinforcing its position as the leading foundry grade pig iron manufacturer in the world.
Meanwhile, the progress on setting up the DI Pipe project as per the joint venture agreement entered into by the Company with M/s Kubota Corporation of Japan has also been satisfactory. Tata Metaliks Kubota Pipes Limited was incorporated on October 16, 2007 and it has now been recorded as a subsidiary company of Tata Metaliks Limited. |
