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'CPL prices to be stable in coming quarters' – MD, GSFC
09
Aug '11
Mr Chakraborty, MD - GSFC
Mr Chakraborty, MD - GSFC
For the first quarter ending June 30, 2011, Baroda-based Gujarat State Fertilizers & Chemicals (GSFC) posted a net profit of Rs 1.42 billion, up a massive 30.28 percent, against Rs 1.09 billion for the comparable quarter of the previous fiscal year.

Net revenues too have jumped 13.21 percent from Rs 10.67 billion in quarter ended June 30, 2010 to Rs 12.08 billion for the quarter under review. GSFC expects revenues to maintain their momentum and replicate the same levels in coming quarters.

Production of the key raw material for manufacturing nylon fibre; Caprolactam (CPL) stood at 17,823 metric tons against 15,745 metric tons in quarter ending June 2010, up 13.19 percent. However it fell 14.83 percent when corresponded with its previous quarter ending March 31, 2011.

While speaking about future sales and price trends of Caprolactam with fibre2fashion, Mr Atanu Chakraborty, MD, GSFC said, “We expect sales, prices and margins of Caprolactam to be at the present levels in the second quarter too and prices too are anticipated to be stable in subsequent quarters”.

Mr Chakraborty is of the opinion that, volatility in any feedstock prices would affect the economy of the finished product and Caprolactam cannot be an exception.

On exports of Caprolactam, Mr Chakraborty informs, “Currently, the Caprolactam export market is at the same level as that of domestic market. GSFC is exporting very small quantities to China which is also a growing economy”.

He however feels that there may not be much impact on India of the US federal debt crisis, since the ceiling has already been raised before the deadline and also since, India is less dependent on the US economy. But he expects it to impact Europe or other countries like China.

Fibre2fashion News Desk - India

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