Tirupati Inks Ltd a Kanpur based company engaged in the business of manufacturing of printing inks and trading of polyester films and other packaging materials, has announced its first quarter results ended June 30, 2010.
The company has posted revenues of Rs 20.81 crore for the first quarter ended June 30, 2010 as against Rs 12.23 crore for the previous corresponding quarter ended June 30, 2009, registering a growth of 70.15%. Company’s profit after tax witnessed a surge by 210.34 % to Rs 63.90 lakhs compared to Rs. 20.59 lakhs previous corresponding period.
Commenting on the performance of the first quarter, Mr. Sanjiv Agarwal, Chairman, Tirupati Inks said. “This quarter marks the turning point wherein Tirupati Inks Ltd has embarked upon a sizeable expansion to consolidate our position in the fast growing inks market in India”
Tirupati Inks Ltd. plans to set up a new facility in Ghaziabad to manufacture specialty inks like digital inks, UV inks, offsets printing inks and concentrates inks to augment and support the existing product range of the company.
About Tirupati Inks Ltd:
Tirupati Inks a Kanpur based company with a turn over of 5031.27 lakhs for the year ended March 2009, is among the leaders in the formulation of state-of-the-art printing inks and coatings for the world wide graphics/printing and flexible packaging industries. The company has two manufacturing facilities at Kanpur & Jammu.
The Kanpur unit of the company has a capacity of 1000 M.T on a single shift basis and manufactures Gravure Printing Inks for Films, Paper, Aluminum Foils, and Woven Sack. It also manufactures Roto Gravure Printing Cylinders. The unit at Kanpur also practices R&D efforts that are dedicated to improvements in inks and specific printing processes. The second unit at Jammu has a capacity 840 M. T. on Single shift basis and specializes in manufacturing Gravure Inks for Polyester films, BOPP Films, Water Base Inks.
Through the years of growth, Tirupati Inks has transformed itself into a multi-dimensional, multi-location company offering a comprehensive range of quality products, efficient customer service to FMCG sector through a wide distribution network. In India, it is a marketing powerhouse with its branches, technical centers and distributors across the country. Throughout its history, Tirupati has earned the reputation of providing innovative, novel solutions to challenging inks and coating problems presented by the ever changing converting and printing industries.
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Note:
Tirupati Inks Limited (“Tirupati” or the “Company”) proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make a follow on public offer of its equity shares and has filed a Draft Red Herring Prospectus (“DRHP”) with the Registrar of Companies (“ROC”). The DRHP is available on the website of SEBI at www.sebi.gov.in as well as on the websites of the BRLMs at www.ashikadirect.com. Company has appointed Ashika Capital as a Lead Manager for the proposed issue. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP, which has been filed with the ROC including the section titled "Risk Factors". Potential investors should not rely solely on the DRHP filed with SEBI.
The Equity Shares have not been and will not be registered under the US Securities Act of 1933 (the “Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States or to, or for the account or benefit of, “U.S. persons” (as defined in Regulation S under the Securities Act). Accordingly, the Equity Shares will be offered and sold only outside the United States to non-US persons in offshore transactions in compliance with Regulation S of the Securities Act and the applicable laws of the jurisdiction where those offers and sales occur.