Indian Petrochemicals Corporation Ltd (IPCL) has notched up a net profit of Rs 249 crore for the year ended March 31, 2001, a growth of 32 per cent over the Rs 189 crore posted during the previous year.
Total revenues for 2000-01 at Rs 5,818 crore was higher by 18 per cent compared with the previous year. The export turnover was at Rs 291 crore against Rs 171 crore in 1999-2000, registering an increase of 70 per cent.
The net worth of the company as on March 31, 2001 stood at Rs 3,138 crore against Rs 2,961 crore in the previous year. Operating margins stood at 24 per cent during 2000-01 compared with 22 per cent in the previous year.
The company has attributed this improvement in operating margins to strong volume growth, higher price realisation and prudent supply chain management.
The earnings per share for the year under review was Rs 9.99 against Rs 7.58 for the previous year. The board today recommended a dividend of 30 per cent for 2000-01.
According to the company, the combined production of saleable products from the three complexes at Vadodara, Nagothane and Gandhar was 13.55 lakh metric tonne as against 11.76 lakh metric tonne achieved in the previous year, registering an overall growth of 15 per cent. The combined capacity utilisation of all operating plants achieved during fiscal 2000-01 was over 98 per cent.
IPCL officials said, "The excellent capacity utilisation was made possible by resorting to feed stock imports, in-house power generation, continuous monitoring of on-steam factors and effective utilisation of the infrastructure facilities available with the company.
