Finolex Industries Business Updates

Finolex Industries Ltd has announced the following:

Commenting on the Q1 performance, Mr. S S Dhanorkar, Asst. Managing Director, of the Company, said "buoyant demand contributed to the increase in both bottom line as well as top line growth. The Company´s improved distribution network across the country is enabling in increasing the market share from all the regions and the outlook for the remaining quarters too remains positive".

Capacity Expansion:

The PVC Resin capacity at Ratnagiri in Maharashtra was expanded from 130,000 TPA to 260,000 TPA during the quarter ended March 31, 2006. The additional capacity has been successfully marketed.

New Projects:

The Company is in the process of adding 10,000 MT p.a. to the PVC Pipes manufacturing capacity. The additional capacity is expected to come on stream during the third quarter of current financial year.

The work on installation of Captive Power plant in Maharashtra has commenced. The plant is expected to be operational by September 2007 yielding considerable savings in power cost as also ensuring continuous and steady supply of quality power.

Other Projects under active consideration are setting up of a Special Economic Zone [SEZ] at Chinchwad in Pune and setting up of a break-water facility at Ratnagiri in Maharashtra to make the Company´s Port operational round the year.

Source : Equity Bulls

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