FLEX CHEMICALS: POOR PERFORMANCE
Article Abstract:
Flex Chemicals manufactures printing inks. The company posted a poor performance for the year ended December 1996. Its turnover was only Rs34.18 crore against a projected turnover of Rs65.74 crore while its net profit was Rs5.29 crore against the projected net profit of Rs17.50 crore. Flex's poor performance is attributed to low capacity utilisation of its pouch division and the slowdown in the demand from printing inks apart from rising input costs and tight liquidity. Flex was to commission a 50,000 tonnes per annum polyethylene terephthalate (PET) chips plant in January 1998. But its financial results for the six months ended June 1997 indicate that flex is yet to start operating this division. Flex's turnover for the period was just Rs28.41 crore against the projected turnover of Rs298.21 crore. Flex is slated to do well as prices of major raw materials required for PET chips have fallen by 58 percent and the demand for polyester film is picking up. As on June 1997 Flex's scrip was being quoted at Rs17. (tsm)
Comment:
Posts poor performance for yr ended 12/96 as its turnover is only Rs34.18 crore vs projected turnover of Rs65.74 crore
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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MUNAK CHEMICALS: TURNING THE CORNER
Article Abstract:
Munak Chemicals of Chandigarh, a producer of Single Super Phosphate and Sulphuric acid, posted a net profit of Rs0.03 crore on sales of Rs13.84 crore in 1997-98 against a loss of Rs0.13 crore on sales of Rs9.93 crore in 1996-97. The company has posted a net profit of Rs0.15 crore on sales of Rs5.01 crore in the first quarter of 1998-99. The net worth of the company is expected to turn positive by 2000-01 while its accumulated losses may be wiped out by 2005-06 AD. The Appellate Authority of Industrial and Financial Reconstruction has sanctioned a Rs9.74 crore rehabilitation scheme for the company on July 29, 1998. (khr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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SHAPER CHEMICALS
Article Abstract:
Shaper Chemicals Ltd (SCL) of Mumbai makes chemicals. In the 18 months ended September 1997, it incurred a loss of Rs4.57 crore on sales of Rs16.93 crore. Its entire net worth has been wiped out. Its scrip was traded at Rs1.50 in December 1998. Its joint venture with United Phosphorus Ltd at Jhagadia is yet to start operations. Its funds have been locked up. (tsm) (kvr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1999
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