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15th November 2016, New Delhi

Indo Rama improves performance on efficiency measures

The company says it has taken several initiatives to improve its operational performance.Indo Rama Synthetics (India), India’s largest dedicated polyester manufacturer, has reported a net loss of Rs. 14.69 crore for the quarter that ended on 30 September 2016, compared to net loss of Rs. 49.71 crore in corresponding quarter of last year.

The operational EBIDTA for the quarter was Rs. 3.47 crore, compared to Rs. 0.60 crore in the corresponding quarter of last year. The company has reported operational revenue of Rs. 766.16 crore during the quarter, compared to Rs. 695.03 crore for the same period of the previous year.

The sales volume for the quarter increased to 93,708 tons as compared to 80,693 tons in the corresponding period of last year, reflecting an increase of 16.13%.

Operational performance

The company's business comprises of polyester products, which is highly competitive and in the last few years there has been an over-supply in the industry. According to the company, this has resulted in lower profit margins.

However, the company says it has taken several initiatives to improve its operational performance in terms of specialty products, higher capacity utilisation, cost control initiatives and addition of new customers. Based on the above the company believes that the profitability will improve over the next few years. It is confident that the deferred tax assets carried at the end of the period is fully recoverable.

Indo Rama Synthetics (India)

The Indo Rama Group has a strong presence in Indonesia, Thailand, USA, Nepal and Sri Lanka, besides India. It has focussed business activities in the field of textiles, polyesters, and industrial chemicals.

The Group’s Indo Rama Synthetics (India) is India’s largest dedicated polyester manufacturer with an Integrated manufacturing complex in Butibori, near Nagpur, in Maharashtra, with production capacity of 6,10,050 tons per annum of polyester staple fibre, filament yarn, draw texturized yarn, fully drawn yarn and textile grade chips.

www.indoramaindia.com

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