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Sunny days ahead for polyester industry

Mar '07
JBF Industries, the largest polyester chips manufacturer has recorded a growth of 13.52 percent compared to compounded annual growth rate of up to 9 percent last year, for previous period said Rakesh Gothi, Managing Director of JBF Industries.

Certain concessions have been given by Government within industry.

Import duty on raw materials has been reduced from 10 percent to 7.5 percent in the recent Budget whereas in previous year Government had reduced excise duties on finished products from 16 percent to 8 percent thereby encouraging industry, said Gothi.

Per kg consumption in India is just 1.6 kilograms per capita, China's consumption is 3.2 kilograms per capita, whereas world's average itself is around 3 kilograms per capita, this proves there is potential for growth within our industry, he said.

For this financial year ending in March, target has been set at gross sales in the range of Rs1500 crore and Ebitda levels around 12 percent with net profit of around 5-6 percent.

Our target figure for next financial year is Rs 2200 crore, Ebitda being again 12 percent and net profit being somewhere around 6-7 percent, for our ongoing projects in UAE at Ras Al Khaimah where PET project is going to come through, Gothi said.

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