Ashapura Minichem gets award

 Navnitlal Shah, executive chairman of Ashapura Minichem, received the award from Union minister of commerce and industry Arun Jaitley at New Delhi.

 Involved in the exports of bentonite, barytes and bauxite worth Rs 1,334.59 lakh in 2002-03, Ashapura Minichem has bagged over 35 export awards in the past 20 years. It primarily exports processed minerals to Australia, Brazil, Canada, Italy and the UAE.

 The turnover of the company for the quarter ended September 30, 2003, was Rs 7,796.45 lakh as compared with Rs 4,655.66 lakh in the corresponding period last year.

 Net profit went up to Rs 253.46 lakh as compared with Rs 154.52 lakh in the same period last year.

 With a turnover of over Rs 300 crore, Ashapura commands 80 per cent of the bentonite market share in the country. Having interests in mining, processed minerals, granite, shipping and port development, bauxite exports alone touched the one million tonne mark this year.