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Graphite India is expecting an increase in profitability in 2011-12.
“Going by global trends, we are expecting the realisation to improve in 2011-12,” Mr K.K. Bangur, chairman, told newspersons here today.
The company's capacity utilisation, which had plummeted to 52 per cent in 2009-10, has improved to 79 per cent in the April-June quarter of this fiscal.
Graphite is in an advanced stage of commissioning a Rs 255-crore capacity augmentation project at its Durgapur facility in West Bengal. The project is slated to be complete by the end of this fiscal.
The company's plan for setting up a 50-MW captive power plant in Durgapur has suffered a setback due to non-availability of environmental clearance. Graphite is now looking forward to set up either a captive thermal or hydel power plant in some other location, preferably in West Bengal.
On the German operations, Mr Bangur said that the company is commissioning a €20-million project to improve the product mix of the Nurnberg facility. The profitability of the facility, however, may be under pressure in this fiscal due to rising costs.
The company posted 24 per cent growth in gross sales to Rs 335 crore on a standalone basis in the first quarter of 2010-12 compared to the corresponding period of the previous year. Net profit improved by 7 per cent to Rs 37 crore.
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