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Corporate Update
Clariant registers record growth in textiles
Clariant (India), an affiliate of Swiss multinational and leading manufacturer
and supplier of dyes & speciality chemical products for textiles, leather,
paper, plastics and polymer industry, has recorded sales turnover (net of excise)
of Rs 90.12 crore in the first quarter of current financial year 2005-06 against
Rs 77.02 crore, recording a growth of 17 per cent over the same period of the
previous financial year. Performance of two industry segments of the company
was highly encouraging with record growth of 22 per cent in textiles representing
dyes & chemicals and 58 per cent in masterbatches. The net profit after
tax amounting to Rs 5.8 crore is higher by 18 percent over Rs 4.9 crore during
the same period in the previous financial year. Addressing the shareholders
at the 58th Annual General Meeting held recently, Mr P R Rastogi, vice chairman
and managing director of the company, expressed that the performance for the
year 2004-05 was overall satisfactory considering the fact that loss of significant
sales in exports was fully recovered by record growth in domestic market by
all business units resulting into overall growth of about 5 per cent in net
sales over previous year.
Mr Rastogi stated that in the post MFA era the textile business is showing excellent
growth prospects and the company is well poised to reap the benefits as the
textile business occupies a dominant position in the product portfolio and sales
of the company. As a strategy, company will continue to introduce new products
and processes to meet the requirements of its customers and the contribution
of new products in sales will further improve from present 15 per cent. The
company is a market leader in textile chemicals and leather dyes and has improved
its market share in paper dyes and chemicals. It enjoys the status of an ISO
9001 and ISO 14001 certified company. The company has been rated among the Top
25 companies which are following best Corporate Governance Practice consecutively
for last three years.
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