Manufacturing and Construction Sector in India Monthly Update January 2012
Top Story
Rio Tinto gets approval for diamond mines in Madhya Pradesh The Union Ministry of Mines has given approval to Australia based mining company Rio Tinto to begin diamond mining in Madhya Pradesh. The diamond mines will be developed in the Bunder region. The project consists of 8 lamproites with 27.4 mn carats of inferred resource. The diamond mineralization target is expected to be around 40‐70 mn tonnes with a grade of around 0.3 to 0.7 carats per tonne. The company had first established a diamond prospect in the Bunder region in 2004 after a regional inspection. A prospecting license was signed by the company and the state in September 2006 permitting the company to continue with their exploration work. In order to assess the viability of the mining project an ‘Order of magnitude’ study was also initiated. Work at the site will commence following final approval from the state. The Bunder Project is expected to emerge as a major diamond mine in India. It is believed to be a major step towards the production of world class diamonds in India.
News Update General
Paper prices rise by 23% Following a rise in demand, paper prices have risen by 2 to 3% or INR 1000 to INR 1500 per ton. Price of all categories of paper, namely coated paper, high‐end copier paper and special paper have been raised by the companies. Two major players in the market Bilt and J.K. Paper have raised the price of coated paper from INR10 bn – 15 bn per tonne to INR 520 bn. Price of high quality copier paper has also increased by INR 10 bn per tonne. The price of a high end copier now is INR 620 bn. while ledger and specialty paper is being sold at INR 560 bn and INR 530 bn per tonne respectively. Export of paper has also increased following the depreciation of the rupee against US dollar. This has further led to a decrease in inventory of the paper companies and has provided cost recovering opportunity amounting to INR 30 bn. Rise in government purchase of paper with a view to utilize unused budget has also led to a rise in demand. The paper industry of India is estimated to be around 10 million tonnes. Writing paper segment accounts for 3.8 mn tonnes, packaging grade paper segment for 4.5 mn tonnes and the newsprint industry for 1.7 mn tonnes. Manufacturing and Construction – Monthly Update
RINL and SAIL to obtain mining approval in Rajasthan Rajasthan Government has decided to grant iron‐ ore mining rights to Rashtriya Ispat Nigam Limited and Steel Authority of India Limited in the Bhilwara district of Rajasthan. 864.6 ha and 1043 ha mining area have been allocated for SAIL and RINL respectively. The mines will be allotted to them once the final approval from the Indian government is obtained. INR 40 bn will be invested by the two public sector units in Bhilwara to develop a mining capacity of 5000 mn tonnes of mechanized iron ore. After the mining rights have been granted the state will get a Greenfield steel plant with a production capacity of 2 mn tonnes per annum, a pelletisation plant with 1.8 mn tonnes production capacity per annum and a sponge iron plant with a production capacity of 1 mn tonnes per annum. These projects are expected to create around 2000 direct jobs and around 20000 indirect job opportunities. The iron ore in the Bhilwara district belongs to the magnetite grade having a low recovery percentage of 30 to 35%. Followed by an assured linkage to limestone from Jaisalmer and Dolomite from Jodhpur, companies are now coming forward to invest in these mines. Coal India to set up a Jointventure with the Limpopo Government State owned company Coal India is likely to form a joint‐ venture with the Limpopo government with a view to acquire the coal mines in the region and increase its output level. Coal India is expected to have a majority stake in the joint venture while at least 26% stake will be that of the public enterprise of Limpopo. The province of Limpopo is an important source of Platinum and is expected to have untapped coal potential. Mining is a primary economic activity contributing about 20% of the economy of the region. Coal India accounts fore more than 80% of the domestic coal production with a revised production target of 440 mn tonnes from 452 mn tonnes in the beginning of the fiscal year. Consortium of ironore companies to invest INR 3.75 bn in Afghanistan INR 3.75bn will be invested in the iron‐ore mines in Hajigak, Afghanistan by a consortium of iron‐ore companies led by SAIL. The mining rights were won by the consortium in November providing India access to the primary raw material for producing steel. Total investments worth INR 550 bn will be made in order to develop the mines, construct infrastructure and build a plant. The consortium of companies consists of JSW Ispat, JSPL, RINL, NMDC, Monnet Ispat and JSW steel as members. Active role of the Afghan government will be solicited to obtain mining, licensing and housing rights of workers along with provision of road and rail infrastructure around the mining region. Manufacturing and Construction – Monthly Update
NLC to invest in improving mining capacity Neyveli Lignite Corporation (NLC) will invest INR 357.4 bn to improve mining capacity from 28 mn tonnes to 45 mn tonnes by 2017. A part of the investment will be utilized to improve power generation capacity from 2500 MW to 10000 MW using German technology. The company also has plans to set up joint ventures with local firms in South Africa and Indonesia in order to acquire coal fields which would in turn help in setting up green field thermal power projects and enable company expansion. Company is primarily based in South India and has lignite reserves with a production capacity of 10.5 mn tonnes, 3 mn tonnes and 10.5 mn tonnes respectively. Company also has power plants with a generation capacity of 600 MW, 1470 MW and 420 MW in South India. Northern Coalfields to hand over land to Reliance Power Land adjoining the Sasan Ultra Mega Power plant will be handed over to Reliance Power by Northern Coalfields. Production from Moher and Moher Amrohli coal mines will be used in the 4000 MW projects of the company being built in Madhya Pradesh. Transfer of the land will also provide the company access to 58 tonnes of coal amounting to INR 62.64 bn. However the transfer of land from NCL is still subject to the approval of the coal ministry. Earlier one block was transferred to Tata Steel from the Central Coalfields. Eight blocks of mining land are also being sought by companies like Tata Steel, Essar Power, GVK Power, Adhunik Power and Arcelor Mittal. CIL to launch coal mining tender in Mozambique A new tender will be launched by Coal India in Mozambique to explore two coal blocks having a total area of 200 sq kms. The coal reserves of the two blocks is estimated to be around 1 bn ton. The exploration of the mining blocks is set to be started from 2015. Company had also launched tenders in 2010 and 2011. The former was cancelled due to currency problems and the latter was declared invalid. CairnIndia joint venture starts production The Cairn India joint venture has started oil production in the Barmar Fields. The current production level is around 25,000 barrels per day. The company expects to raise the production to 40,000 barrels per day. The Barmer field consists of Mangala, Bhagyam and Aishwariya oil fields. The production from the Mangalam oil fields is around 125,000 barrels per day. 30% interest in the Barmer acreage is held by Coal India but Cairn India is in charge of the oil field operations. Reliance Power to double Tilaiya Block coal production Reliance power is going to raise production of coal from the Tilaiya ultra mega power project to 40 mn tonnes per year from the existing 20 mn tonnes. The company has entered into an agreement with RWA Power to obtain technical assistance in the B Manufacturing and Construction – Monthly Update
and C blocks of North Karanpura coal fields with a view to meet the fuel requirements of the plant. The Tilaiya mining project has a coal reserve of 1.2 bn tonnes and is expected to generate production from 2015. Annual mining cost of the company is expected to be around INR 70 bn. Company had won the project with a winning bid of INR 1.77 per kwh. Company also has a strategic partnership with North American Coal Corporation to carry out mining operations in the 3960 MW Sasan power plant. The Sasan power plant will be commissioned by next January. A new 3960 MW power plant is being built at Chitrangi in Madhya Pradesh and the company has been permitted to ship coal to the plant from Moher also located in Madhya Pradesh. Mining firm Vedanta to acquire new stakes Mining firm Vedanta resources have offered to buy the minority stakes held by the government in Bharat Aluminium Co. Ltd (Balco) and Hindustan Zinc Ltd (HZL). Earlier the government had sold 51% share in Bharat Aluminium Co. Ltd and 64% of Hindustan Zinc Ltd to Vedanta at INR 5.5 bn and INR 7.5 bn respectively. The company intends to utilize the cash reserves of the two acquired companies to finance its expansion plans. International Coal Ventures and Anglo American strategic tie up International Coal Ventures have entered into a strategic tie up with Anglo Indian a London based global leader in mining, to explore coking coal sources. Areas of cooperation in mining are being discussed and a route map will be formed over the next three months by ICVL and Anglo. The members of the ICVL include SAIL, Rashtriya Ispat Nigam, NMDC, Coal India and others. Annually 2.5 mn tonnes of coking coal is purchased by SAIL from Anglo American. Illegal mining leading to huge losses in revenue According to Coal India subsidiary Eastern Coalfields, illegal mining and other illegal activities are leading to a production loss of 40,000 tons amounting to a revenue loss of INR 120 bn on a monthly basis. Company is incurring a loss INR of 0.12 bn every month from the mines of Narayankudi which is good source of thermal coal and the mines of North Seyarsole due to a standstill in coal production. Disruptions in power supply have further affected the supply of coal to the nearby industries and plants. The loss of revenue is further aggravating the financial condition of the company particularly when it is already operating in losses. Leyland Deere in advanced stage of developing its construction equipment for Indian market Leyland Deere is in the final stage of developing its second construction equipment for the Indian market. The ‘four wheel drive wheel loadder' is expected to be launched by 2013 along with other products that are yet to be announced. The new equipment Manufacturing and Construction – Monthly Update
can be used in handling coal and bulk equipments. After the 2000 hours testing of the equipment is done the final configuration of the equipment will be decided. Leyland Deere the joint venture between Ashok Leyland and John Deere launched its first product, the 435 Backhoe Loadder last November. The production unit of the Backhoe Loadder is in Chennai with an annual production capacity of 8000 to 9000 units. The company is expected to increase its outlets in Sothern India from 22 to 62 by April of this year. Orders worth INR 187.8 mn won by Elecon MHE division of the Elecon Engineering Company has won orders worth INR 187.8 mn from McNally Bharat Engineering Company. The order is for supplying two rail‐ mounted self propelled multi‐bucket barrel wheel blender reclaimers with 1400/1200 (design/rated) capacity and having a bridge span of 35m. The order also includes erection and commissioning of two blender reclaimers for the BHEL and NMDC projects. New earth moving and construction equipment cluster in Chandigarh Twelve small and medium term enterprises of the earth moving and construction equipment industry have jointly set up a new industry cluster in Chandigarh. The new industrial cluster has been formed by the initiative of CII‐AVANTHA Centre for Competitiveness for small and medium term enterprises. The centre had set up a similar industrial cluster in Chandigarh from June 2010 to November 2011. The CII – AVANTHA Centre was established by the Confederation of Indian Industry in 2004 to improve the market competitiveness of the small and medium enterprises. Cold Forged Brass Nuts launched by Brass Nuts Screws Fasteners Brass Nuts Screws Fasteners have launched DIN 934 and ISO 4032 grade Cold Forged Brass Nuts. Unlike the traditional nuts they are produced using the cold forging technology which enhances the physical properties of the nuts. Company is also expected to launch new Brass and Copper Accessories like Brass Electronic connector, Galvanized Conduit Fittings etc Mair and UM Group to set up partnership in India Indian industrial firm UM Group will set up a joint venture with Spanish automotive parts manufacturing company Mair in India. INR 328.4 mn will be invested in the production and supply of decorated plastic assemblies and parts. Potential clients of the joint venture include General Motors, Honda, Peugeot‐Citroen and Nissan. The company is expected to achieve sales worth more than INR 262.7 mn. UM Group manufactures a diverse range of products including car rear‐view mirrors, horns and instruments with printed circuit boards, equipment for electricity distribution etc. Mair operates through five production plants and manufactures front grilles, wheel covers, dashboard fascias, handles, trim and domestic appliances. Manufacturing and Construction – Monthly Update
Brass Anchor Fastners launches Metric Drop Anchors Jamnagar based Brass Anchor Fastners have launched a new range of metric threaded drop in anchors with better torque and higher pull‐out loads used for drywell fixing in Scandinavia and Europe. Other products of the company include Brass wood Anchors, concrete Anchors, Wedge Anchors nuts, Brass Fittings Screws, Brass Fasteners, Brass Components, Brass Machined Parts, Brass Screws, Brass Nuts. Company expects to capture the Finland, Sweden and Germany markets following the launch of the product. PE/VC financing is expected to be finalized in the next eight months which will be utilized in setting up or acquire an extrusion plant by the company. New Digital Textile Inking Print launched in India The Digital Textile Inking Print has been launched by Jay Chemicals Industries Limited in the Indian market. The product is named ‘Antelos’ and was launched in the Asia Interdye Exhibition in Ahmadabad. Company is one of the major producers of reactive dye in the world with a total turnover of INR 3539.7 bn from the sales of its products under two brands Jakofix and Jakazal. In 2010 company set up a wholly owned subsidiary ‘Solunaris GmbH’ in Germany. NMDC to acquire new properties NMDC has announced plans to acquire Australia based Ridley iron ore deposit of Atlas Mining and Wonarah phosphate reserve of Minemakers Ltd. The Ridley deposits have an iron ore deposit of 970 mn tonnes with a production capacity of 330 mn tonnes of ore for over 30 years. Company signed an agreement with MOU to acquire 50% stake in Wonarah phosphate having 1.26 bn deposits at 12% phosphate. State owned NMDC operates three mines located in Karnataka and Chhattisgarh with a total production capacity of 30 mn tonnes. Australia based Legacy Iron Ore was acquired by the company at INR 920 mn last year. NTPC to focus on local mines to meet demand Uninterrupted supply of coal for its thermal units is a major requirement for NTPC to meet the 12th plan target of 66,000 mw of power supply by 2017. NTPC is focusing on local captive mines for meeting its demand instead of acquiring mining properties overseas. 140 mn tonnes of coal is supplied by Coal India and the remaining 20 mn tonnes are imported by the company. The total demand for coal by NTPC is expected to rise to 200 mn tonnes. Company is focusing on local mining as acquisition and mining of coal overseas is associated with uncertainties and imported coal is also more expensive than domestic coal. NMDC to mine gold in Tanzania Maharatna enterprise NMDC has obtained the lease of gold mines based in Tanzania. The estimated gold reserve of the mine is 4 mn tonnes and the company is expected to
Manufacturing and Construction – Monthly Update
start production in six months time. NMDC has invested around INR 2475 mn for the project. Company started diamond mining in 2010 – 2011 and had mined 10,865 carats of diamonds.
News Update Regulatory
Indian Government raises export tax on iron ore The Government of India has raised export tax on both iron ore fines and lumps from 20% to 30%.The order of the tax hike was posted in the Central Board of Excise and Customs website. The tax rise is expected to have an adverse impact on the export competitiveness of India. Export of iron ore is expected to decline from 97.64 mn tons in FY 2011 to 50 mn tons in the current fiscal year. China is the major importer of iron ore from India. Export shipments from India have registered a 28% decline between April and November. This decline was primarily due to a ban on mining in Karnataka, transportation problems in Orissa and restriction on sale of old stocks in Goa. Karnataka and Goa account for around 70% of iron ore exports of India. ICFRE recommends up to 30 mn tonnes of iron ore extraction in Karnataka In its Environment Impact Assessment Study the Indian Council of Forestry Research and Education (ICFRE) has recommended per annum iron ore extraction up to the extraction of only 30 mn tonnes in Karnataka. In its previous report it had recommended 5 million tonnes of iron ore extraction in the Bellary mining region, Chittadurga and Tumkur. The report on Chittadurga and Tumkur mining region was submitted to the Supreme Court in Dec 2011. There was an upward revision of iron ore extraction in Chittadurga 3.95 mn tonnes to 7.26 mn tonnes following an approval by the Indian Bureau of Mines. The study by ICFRE has established that unregulated excessive mining has led to environmental degradation. Excessive mining has had a negative impact on 2.2 sq kms of forest area in Chittadurga district and an area of 5.7 sq km beyond the designated land was found to be mined in the Tumkur district. Manufacturing and Construction – Monthly Update
News Update Expansion Plans
Adani Enterprises to venture in Coking coal trade Adani Enterprises, which accounts for more than half of the thermal coal imports in India, is set to enter the coking coal business with a view to meet the growing demand from steel industries. The first shipment of coking coal will be around 57000 tonnes and will be brought in Dhamra on the eastern coast from Canada. The company is expected to invest around INR 214.45 bn for developing the coal mines that were awarded to it under joint ventures with the state electricity boards. Australia based Linc Energy was acquired by the company for INR 160.83 bn. The company has been appointed as mining operator for five coal blocks through competitive tender and will build infrastructure for delivering coal to its government joint ventures. P&H Joy to set up new manufacturing unit in West Bengal PH & Joy the wholly owned subsidiary of Joy Global INC in US will invest INR 1.33bn to set up a mining equipment manufacturing unit near Durgapur in West Bengal. The first phase of the project is expected to be commissioned by 2013. However the investment plans for the second and third phase of the project is yet to be confirmed. The new unit will primarily cater to the eastern states of Jharkhand, Orissa and West Bengal. Mining activities in the eastern region is expected to rise with the setting up of JSW Steel project in Salboni and expansion of mining activities by SAIL. Major customers of the company include Coal India, Reliance Power, Singareni Collieries, Hindustan Zinc, Hindustan Copper and Tata Steel. P&H specializes in mining equipment and Joy Global Inc is a global leader in underground mining equipment. ECEL to invest INR 50 bn to set up new plant Escorts Construction Equipment Limited plans to acquire land in Madhya Pradesh and Gujarat to set up a new manufacturing unit. The new plant will be used to produce cranes, backhoe loaders and excavators. The production unit will have an installed capacity of 50000 units. Gujarat and Madhya Pradesh are emerging as attractive investment locations due to availability of cheap labour and favourable tax structure. PVC sheet producer Profine to set up a plant in India Germany based company Profine International is planning to set up a new plant in India. The extrusion plant for the new window system will be built by the Indian subsidiary Profine India Window Technology which was established in 2010. The company will manufacture new window system with outward opening and special sliding system.
Manufacturing and Construction – Monthly Update
Company is a global supplier of plastic windows, door systems, PVC sheets and shutter systems. The company has 28 operational units in 21 countries. Expansion of construction equipment facility in Bangalore Volvo Construction Equipment will invest INR 0.9 bn to expand the construction equipment facility in Bangalore. The new extension in Peenya will be utilized in the production of 21 tonne and 29 tonne excavators. Depending on the demand new range of products will also be produced over the next five years. Localisation is one of the primary strategies adopted by the company to reduce production. It also leads to domestic development and creation of employment opportunities. Mahindra Conveyor Systems sets up new unit in India A new unit of 100,000 sq km fabrication facility with all equipments has been set up by Mahindra Conveyor Systems in Ambadwet near Pune. It will cater to the growing demand for construction equipments. High quality conveying equipments will be supplied to the Cement Industry by the new facility. Steelcast expansion plans Gujarat based manufacturing company steelcast plans to invest INR 700 mn to enhance its production capacity to 36000 tons from the existing capacity of 17000 tons. The expansion is taking place following the 50:50 joint venture of the company with Michigan Steel called Steelcast LLC in June 2010. Over the next five years Steelcast LLC is expected to generate revenue worth INR 2bn. The joint venture is also expected to market its product in the USA, particularly to the US railways for transport of freight. Certification from the US railways is expected to increase the advantage of the company in bidding for contracts in the India railway market. Essar to venture in Indonesia’s coal sector Essar group is planning to venture into the Indonesian coal mines with a view to meet its rising demand for coal. The company had purchased Aries coal mine spanning an area of 5000 hectares and having an output of 4 mn tonnes in 2010. The mine is soon expected to start production. Two other mines of the company in Kalimantan and Sumatra is awaiting forest clearance. The company is also the largest producer of cold rolled steel in Indonesia with a production capacity of 0.4 mn tonnes. Manufacturing and Construction – Monthly Update
Industry Expert Speak NTPC to focus on local coal mines – Arup Roy Choudhury, Chairman, NTPC “By 2017, I see one‐third of the coal coming from our own mines. It is always good to do own coal linkage. We (India) have fifth largest coal bearings in the world. We have 106 billion tonne of established reserves. We are not even mining one billion a year,” PVC sheet and profiles producer Profine to enter the India market– Albrecht P. Lange, Chief Strategy Officer, Profine “We treat India as growth market which we are developing gradually together with our customers. After establishing our own subsidiary (in India) in 2010, local extrusion is the next step in this journey,”
Transaction Detail (November 2011 – January 2012)
Date
Buyer
Target
Deal Size
% stake
Deal Status
Type of Transaction
12th Jan 2012
Vinci Construction
NAPC Ltd.
N.A.
100%
Completed
Private Equity
9th Jan 2012
Innovative Industries
Salem Steel
247
85%
Expected
Private Equity
15th Dec 2011
Saint Gobain
Electrotherm India
9500
N.A.
Expected
Private Equity
8th Dec 2011
Vedanta Resources
Cairn India
435734
58.5%
Completed
Private Equity
7th Nov 2011
Sesa Goa
Goa Energy Private Limited
537
100%
Completed
M&A
Manufacturing and Construction – Monthly Update
Annual Financial Results – Revenue (INR mn) Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
ABC Paper Ltd.
1,661.4
1,976.1
2,127.0
3,067.9
Abhishek Industries
10,486.7
13,980.6
18,033.6
25,374.6
Action Construction Equipment Ltd.
4,110.6
4,396.6
4,295.8
6,903.8
Aditya Birla Nuvo Ltd.
119,039.7
138,939.7
157,699.4
183,529.9
Alok Industries Ltd.
22,950.5
30,907.8
44,243.4
66,149.0
Alps Industries Ltd.
6,342.7
8,122.7
6,282.5
7,050.8
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
AMD Industries Ltd.
775.829
897.305
1,120.06
1,373.632
Andhra Pradesh Paper Mills Ltd.
5,842.8
6,300.7
6,492.9
7,827.8
APL Apollo Tubes Ltd.
2,766.1
5,266.6
6,185.1
9,054.5
Asahi India Glass Ltd.
9,982.3
12,383.1
12,932.3
15,577.3
Ashok Leyland Ltd.
77,425.8
59,810.7
72,447.1
111,177.1
Ballarpur Industries Ltd.
28,437.9
28,246.9
38,046.9
45,087.4
BEML Ltd.
25,401.4
27,971.9
28,382.5
26,303.8
Bhageria Dye Chem Ltd.
655.126
546.65
564.35
617.686
Blue Star Ltd.
22,215.9
25,026.2
25,249.7
29,760.9
Bodal Chemicals Ltd.
4,141.0
4,037.9
4,794.4
5,724.2
Borosil Glassworks Limited
716.155
669.877
878.9
1,191.0
Century Enka Ltd.
11,911.3
11,781.7
12,308.7
13,443.3
Manufacturing and Construction – Monthly Update
Chemplast Sanmar Limited
6,401.8
6,747.8
9,336.8
18,707.7
Chromatic India Ltd.
176.508
118.537
162.817
1,050.739
Coal India Ltd.
349,674.3
412,035.7
467,840.0
526,334.8
DCM Shriram Consolidated Limited (DSCL)
26,133.5
35,580.7
35,704.5
41,678.3
DCW Limited
7,479.0
9,134.0
10,268.0
10,576.5
Electrosteel Castings Ltd.
14,620.1
19,854.5
16,573.3
19,314.4
Empire Industries Ltd.
7,130.7
3,008.7
2,961.6
N.A.
Essel Propack Ltd.
12,911.0
N.A.
13,593.5
14,083.4
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Fenoplast Limited
974.264
1,100.967
1,440.973
1,762.779
Filatex India Ltd.
3,454.9
3,590.7
3,997.6
4,864.2
Finolex Cables Limited (FCL)
13,837.7
13,415.1
16,187.2
20,357.5
Finolex Industries Limited
14,353.3
15,291.3
14,743.8
20,070.9
Garden Silks Mills Ltd.
16,833.5
17,795.3*
25,187.0
34,049.3
Grasim Industries Ltd.
170,774.2
184,316.9
200,870.8
214,626.4
Gujarat Borosil Ltd.
824.084
931.672
827.64
820.04
Haldyn Glass Gujarat Ltd.
670.623
1,038.488
1,313.248
1,557.016
Hanung Toys and Textiles Ltd.
5,062.2
6,520.6
8,519.3
11,390.6
600,128.3
659,629.5
607,079.2
720,778.7
Hindustan Adhesives Ltd.
425.607
487.409
528.095
629.819
Hindustan Copper Ltd.
15,713.5
11,960.7
13,210.7
11,848.7
Hindalco Industries Ltd.
Manufacturing and Construction – Monthly Update
Hindustan Tin Works Ltd.
1,881.4
2,478.2
2,881.5
2,966.2
Hindustan Zinc Ltd.
78,777.7
56,802.7
80,169.7
99,121.4
Hindusthan National Glass & Industries Ltd.
10,291.3
13,305.6
13,834.5
15,535.2
HSIL Ltd.
5,221.2
6,167.6
8,083.1
10,820.8
IAG Company Ltd.
9.772
126.85
794.129
N.A.
Indian Acrylics Ltd.
4,490.0
3,680.9
4,188.7
4,135.1
Indian Hume Pipe Co Ltd.
4,518.0
6,653.5
6,756.5
6,459.6
Indo Count Industries Ltd.
2,816.1
3,008.2
4,133.9
7,111.8
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Indo Rama Synthetics India Ltd.
25,577.3
24,444.8
25,260.5
27,960.6
ITC Ltd.
30,035.3
28,821.3
31,082.7
36,553.7
J. K. Paper Ltd.
7,913.9
10,771.8
11,223.4
12,509.6
Jai Mata Glass Ltd.
461.946
458.53
466.418
481.44
Jain Irrigation Systems Ltd.
22,262.8
28,695.2
34,348.0
41,745.6
Jaysynth Dyestuff India Ltd.
769.264
803.548
867.205
942.587
JBF Industries Ltd.
27,915.9
43,099.1
49,409.1
64,655.7
JCT Ltd.
5,398.9
5,726.0
5,822.0
7,387.9
Jhaveri Flexo Ltd.
1,316.4
1,710.2
1,867.7
2,418.9
JIK Industries Ltd.
3.657
N.A.*
167.226
399.267
Jindal Saw Ltd
53,624.4
N.A.*
56,947.1
45,948.9
Kaira Can Company Ltd.
1,655.089
1,116.99
991.053
1,107.641
Manufacturing and Construction – Monthly Update
Kanpur Plastipack Ltd.
754.95
984.295
1,002.078
1,183.516
Kilburn Office Automation Ltd.
292.477
353.416
393.612
548.717
La Opala RG Ltd.
508.64
620.391
750.338
941.451
Lakshmi Precision Screws Ltd.
2,239.1
2,322.9
2,498.8
2,613.7
Maharashtra Seamless Ltd.
15,121.8
20,641.4
16,040.2
17,836.2
Malu Paper Mills Ltd.
591.937
1,516.384
1,221.675
1,688.303
Man Industries India Ltd
15,125.6
18,834.2
15,059.6
16,482.2
Manaksia Ltd.
11,473.7
13,848.4
13,011.7
14,332.8
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Marvel Vinyls Limited
634.312
681.675
749.795
894.992
McNally Bharat Engineering Company Ltd.
5,542.6
11,142.1
18,103.0
22,520.6
Meghmani Organics
6,033.1
8,139.5
8,371.7
10,457.5
MOIL Ltd.
9,775.4
12,933.4
9,693.9
11,399.7
National Aluminium Co. Ltd.
51,329.9
52,112.2
51,745.1
60,554.9
Neyveli Lignite Corp. Ltd.
29,816.5
33,548.1
41,210.2
39,490.8
NMDC Ltd.
57,113.1
75,640.3
62,390.9
113,689.4
Oil and Natural Gas Corp. Ltd.
975,173.9
1,052,756.6
1,026,655.8
1,201,955.1
Orient Paper & Industries Ltd.
13,810.2
15,083.6
16,197.5
19,589.8
Orient Press Ltd.
1,426.43
1,021.23
1,371.953
1,525.332
Otis Elevator Company (India) Ltd.
7,647.5
7,267.4
7,469.7
8,991.9
1,744.933
1,684.753
1,429.04
1,413.576
P G Foils Ltd.
Manufacturing and Construction – Monthly Update
Pantaloons Retail (India) Ltd.
58,405.4
76,690.4
97,869.4
122,117.9
Pasupati Acrylon Ltd.
3,300.1
3,142.0
4,224.0
3,878.9
Pidilite Industries Ltd.
17,304.1
20,124.0
22,218.6
26,713.6
Piramal Glass
7,824.3
10,150.3
11,173.9
12,314.5
Poddar Pigments Ltd.
992.159
1,201.192
1,541.669
1,885.469
PSL Ltd
22,931.1
36,489.1
39,935.4
32,222.9
Pudumjee Pulp and Paper Mills Ltd.
2,243.8
2,205.4
2,192.0
2,257.4
Rainbow Paper Ltd.
1,704.3
2,327.1
2,680.9
3,803.8
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Rama Newsprint & Papers Ltd.
3,557.7
3,422.2
3,096.4
3,182.9
Ratnamani Metals and Tubes Ltd.
8,470.3
9,566.3
8,532.9
8,138.8
1,371,466.6
1,511,354.9
2,037,397.2
2,658,106.0
Responsive Industries Limited
4,143.1
6,501.8
8,393.0
11,786.6
Saint Gobain Sekurit India Ltd.
N.A.
809.253
841.135
939.447
Sanco Industries Limited
309.211
398.95
362.989
N.A.
Seshasayee Paper and Boards Ltd.
4,573.8
5,291.1
5,092.6
5,680.7
547.2
484.6
449.0
2,801.3
Shoppers Stop Ltd
11,650.9
13,506.0
15,169.1
23,232.6
Shri Lakshmi Cotsyn Ltd.
9,301.1
11,652.8
15,354.8
17,983.8
Sirpur Paper Mills Ltd.
2,430.8
3,462.1
3,391.5
3,670.8
Siyaram Silk Mills Ltd.
4,891.7
5,330.9
6,597.2
8,542.8
Company
Reliance Industries Limited
Sezal Glass Ltd.
Manufacturing and Construction – Monthly Update
Star Paper Mills Ltd.
2,395.7
2,399.7
2,512.7
2,595.9
Sterling Tools Ltd.
1,549.2
1,511.4
1,797.6
2,481.3
249,030.0
212,636.6
245,006.0
302,480.6
Sudarshan Chemicals
4,003.7
4,606.8
5,944.0
7,256.7
Sundaram Fasteners Ltd.
16,325.8
18,101.2
17,187.4
22,976.9
Supreme Industries Ltd
11,906.9
8,654.3
9,972.0
N.A.
Sutlej Textiles and Industries Ltd.
7,911.8
8,510.3
11,469.1
15,816.5
Swiss Glasscoats Equipment Limited
417.048
423.842
454.913
529.536
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Tamil Nadu Newsprint and Papers Ltd.
9,463.6
10,737.2
10,517.8
12,067.2
Texmo Pipes and Products Limited
579.923
591.637
761.943
1,228.116
The Bombay Dyeing and Manufacturing Company Ltd.
9,660.0
13,172.8
16,427.8
18,864.7
TIL Ltd.
10,624.6
10,373.6
10,545.6
13,751.3
Triveni Glass
496.427
350.202
330.359
362.444
Uflex Ltd.
17,033.9
20,959.1
23,624.5
35,123.1
Vardhman Acrylics Ltd.
2,124.8
2,405.7
2,704.8
3,988.0
Vipul Dyechem Ltd.
203.337
236.068
265.418
330.994
Voltas Ltd.
32,029.3
43,259.0
47,574.7
51,768.3
Welspun Corp Ltd.
39,944.5
57,395.3
73,636.7
80,236.4
West Coat Paper Mills
5,840.9
6,235.7
6,288.6
10,720.9
Yash Papers Ltd.
432.531
840.486
817.702
1,010.217
Sterlite Industries (India) Ltd.
Manufacturing and Construction – Monthly Update
Zenith Fibres Ltd.
334.671
352.248
339.754
393.789
Annual Financial Results – Income (INR mn)
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
ABC Paper Ltd.
122.8
137.6
(125.2)
183.2
Abhishek Industries
388.1
(533.2)
564.6
670.8
Action Construction Equipment Ltd.
341.0
198.9
235.6
411.3
Aditya Birla Nuvo Ltd.
1,507.8
(4,357.3)
1,545.6
8,221.0
Alok Industries Ltd.
1,896.5
740.5
1,377.1
3,115.4
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Alps Industries Ltd.
115.0
(2,011.1)
(1,223.5)
(965.8)
AMD Industries Ltd.
(20.657)
0.181
31.583
38.816
Andhra Pradesh Paper Mills Ltd.
165.4
189.5
541.9
449.4
APL Apollo Tubes Ltd.
160.6
25.4
297.7
430.9
Asahi India Glass Ltd.
84.4
(426.2)
19.9
167.8
Ashok Leyland Ltd.
4,693.1
1,900.0
4,236.7
6,313.0
Ballarpur Industries Ltd.
2,999.2
1,682.9
1,969.9
2,127.0
BEML Ltd.
2,270.0
2,701.1
2,244.9
1,478.0
9.569
(12.355)
11.474
9.03
1,740.9
1,802.9
2,114.9
1,609.7
Bodal Chemicals Ltd.
154.5
(111.0)
140.4
167.0
Borosil Glassworks Limited
5.359
(94.084)
(247.9)
6,478.0
Bhageria Dye Chem Ltd. Blue Star Ltd.
Manufacturing and Construction – Monthly Update
Century Enka Ltd.
134.1
166.2
1,001.6
793.6
Chemplast Sanmar Limited
71.8
(666.1)
(1,281.6)
(421.9)
Chromatic India Ltd.
2.745
(6.7)
1.594
9.114
Coal India Ltd.
51,385.1
19,675.0
96,224.5
108,673.5
DCM Shriram Consolidated Limited (DSCL)
6,727.1
1,226.1
842.5
(142.7)
DCW Limited
357.9
142.5
676.3
289.1
Electrosteel Castings Ltd.
553.4
1,353.2
2,342.5
1,795.8
Empire Industries Ltd.
(69.7)
(685.1)
(798.9)
N.A.
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Essel Propack Ltd.
(883.1)
N.A.
650.2
472.7
Fenoplast Limited
27.264
13.198
21.975
24.903
Filatex India Ltd.
105.2
65.8
171.9
190.1
Finolex Cables Limited (FCL)
889.2
(354.9)
576.3
867.8
Finolex Industries Limited
711.9
(378.9)
1,323.2
761.7
Garden Silks Mills Ltd.
400.0
563.4*
632.0
878.7
Grasim Industries Ltd.
28,914.4
21,866.6
30,955.3
22,790.1
Gujarat Borosil Ltd.
55.956
68.139
(9.68)
(189.152)
Haldyn Glass Gujarat Ltd.
80.657
68.418
110.093
158.517
Hanung Toys and Textiles Ltd.
607.4
644.5
897.8
1,195.7
21,933.2
4,838.9
39,254.7
24,563.7
25.925
23.965
22.383
17.72
Hindalco Industries Ltd. Hindustan Adhesives Ltd.
Manufacturing and Construction – Monthly Update
Hindustan Copper Ltd.
2,464.6
(103.1)
1,546.8
2,241.0
35.1
66.9
114.6
112.8
Hindustan Zinc Ltd.
43,960.7
27,276.1
40,414.1
49,004.9
Hindusthan National Glass & Industries Ltd.
1,603.9
1,063.7
1,541.7
587.8
268.0
317.3
436.5
781.5
IAG Company Ltd.
(59.815)
83.638
11.153
N.A.
Indian Acrylics Ltd.
(73.3)
(413.0)
320.8
3.6
Indian Hume Pipe Co Ltd.
150.2
253.1
285.7
279.7
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Indo Count Industries Ltd.
(187.5)
(538.9)
(166.7)
105.6
30.2
(978.3)
71.3
1,394.1
5,308.7
6,075.1
6,498.0
8,136.7
469.0
380.1
919.8
1,065.1
Jai Mata Glass Ltd.
(72.615)
(1.286)
28.334
15.161
Jain Irrigation Systems Ltd.
1,324.0
1,294.4
2,475.9
2,807.1
Jaysynth Dyestuff India Ltd.
46.65
71.258
59.044
44.674
1,337.7
1,873.8
1,864.0
5,460.0
JCT Ltd.
38.1
(613.7)
(608.8)
560.5
Jhaveri Flexo Ltd.
142.8
10.0
10.5
(6.2)
JIK Industries Ltd.
136.991
N.A.*
(8.917)
42.475
Jindal Saw Ltd
3,196.9
N.A.*
5,495.3
4,421.8
Hindustan Tin Works Ltd.
HSIL Ltd.
Indo Rama Synthetics India Ltd. ITC Ltd. J. K. Paper Ltd.
JBF Industries Ltd.
Manufacturing and Construction – Monthly Update
Kaira Can Company Ltd.
8.458
1.106
10.623
13.74
Kanpur Plastipack Ltd.
18.335
18.621
27.108
30.335
Kilburn Office Automation Ltd.
10.696
14.567
12.082
5.613
La Opala RG Ltd.
10.003
8.14
27.673
93.237
89.4
93.5
42.8
69.1
Maharashtra Seamless Ltd.
1,952.2
2,578.4
2,845.9
3,416.6
Malu Paper Mills Ltd.
25.329
(53.357)
(77.294)
(29.809)
Man Industries India Ltd
721.4
209.0
452.9
836.0
Company
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Manaksia Ltd.
1,282.0
1,063.1
1,315.3
1,127.3
Marvel Vinyls Limited
1.501
3.728
9.036
10.31
McNally Bharat Engineering Company Ltd.
224.6
435.5
495.1
633.7
Meghmani Organics
307.5
371.2
516.8
380.1
MOIL Ltd.
4,615.6
6,902.9
4,663.5
5,880.6
National Aluminium Co. Ltd.
16,315.2
12,722.7
8,142.2
10,693.0
Neyveli Lignite Corp. Ltd.
11,015.7
8,210.9
12,474.6
12,982.8
NMDC Ltd.
32,509.8
43,723.8
34,472.6
64,992.2
Oil and Natural Gas Corp. Ltd.
198,722.6
197,953.4
194,035.3
224,559.3
Orient Paper & Industries Ltd.
1,907.5
2,024.1
1,575.8
1,431.0
Orient Press Ltd.
280.464
43.719
107.538
111.446
Otis Elevator Company (India) Ltd.
1,255.4
1,138.8
819.5
1,079.0
Lakshmi Precision Screws Ltd.
Manufacturing and Construction – Monthly Update
P G Foils Ltd.
79.93
(14.458)
28.619
93.777
Pantaloons Retail (India) Ltd.
219.3
100.7
674.9
1,212.1
Pasupati Acrylon Ltd.
(42.1)
(501.6)
165.7
4.7
Pidilite Industries Ltd.
1,729.2
1,118.8
2,769.6
3,100.5
Piramal Glass
(213.4)
(1,025.2)
44.3
930.2
Poddar Pigments Ltd.
37.98
39.7
141.915
95.542
PSL Ltd
820.5
964.6
1,197.6
697.6
Pudumjee Pulp and Paper Mills Ltd.
52.7
36.3
110.0
(84.4)
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Rainbow Paper Ltd.
126.3
234.8
236.3
371.0
Rama Newsprint & Papers Ltd.
10.7
(272.7)
(566.5)
(1,402.9)
Ratnamani Metals and Tubes Ltd.
900.3
712.0
814.3
831.7
195,678.3
149,713.0
245,033.7
192,940.1
Responsive Industries Limited
396.6
462.9
625.7
910.0
Saint Gobain Sekurit India Ltd.
N.A.
6.47
50.378
100.056
Sanco Industries Limited
13.401
15.028
17.358
N.A.
Seshasayee Paper and Boards Ltd.
457.9
150.3
399.3
650.0
Sezal Glass Ltd.
46.5
21.2
21.9
(644.0)
Shoppers Stop Ltd
26.5
(636.5)
358.8
432.0
Shri Lakshmi Cotsyn Ltd.
577.1
629.6
916.5
1,041.1
Sirpur Paper Mills Ltd.
326.2
(16.3)
(118.5)
(179.1)
Company
Reliance Industries Limited
Manufacturing and Construction – Monthly Update
Siyaram Silk Mills Ltd.
93.1
114.4
337.2
576.4
Star Paper Mills Ltd.
61.4
137.4
83.4
(101.5)
Sterling Tools Ltd.
76.1
16.0
115.9
158.5
42,600.0
35,399.9
37,437.4
50,425.2
Sudarshan Chemicals
47.5
119.7
411.5
482.2
Sundaram Fasteners Ltd.
700.7
359.3
471.5
1,154.8
Supreme Industries Ltd
(145.4)
(406.6)
(520.5)
N.A.
30.3
(301.5)
263.1
1,143.4
FY ‘07
FY ‘08
FY ‘09
FY ‘10
Swiss Glasscoats Equipment Limited
24.723
17.594
24.013
27.07
Tamil Nadu Newsprint and Papers Ltd.
1,128.3
1,073.9
1,260.6
1,490.0
Texmo Pipes and Products Limited
42.638
58.542
40.021
67.943
The Bombay Dyeing and Manufacturing Company Ltd.
166.8
(1,946.2)
184.2
213.9
TIL Ltd.
431.0
447.2
595.3
601.9
(276.358)
(209.808)
66.061
(165.096)
1,098.4
1,864.9
1,901.8
6,979.8
Vardhman Acrylics Ltd.
54.4
42.3
434.4
376.4
Vipul Dyechem Ltd.
3.788
5.251
5.601
9.637
Voltas Ltd.
2,076.8
2,514.0
3,809.9
3,572.4
Welspun Corp Ltd.
3,407.8
2,135.1
6,104.0
6,330.3
819.0
905.4
547.0
900.8
Sterlite Industries (India) Ltd.
Sutlej Textiles and Industries Ltd.
Company
Triveni Glass Uflex Ltd.
West Coat Paper Mills
Manufacturing and Construction – Monthly Update
Yash Papers Ltd.
(35.352)
(21.51)
0.794
30.51
Zenith Fibres Ltd.
17.543
26.975
28.637
24.781
*change in financial year
Events Calendar
Training Program on GreenCo Rating for Companies – Hyderabad Date: 1st – 2nd February 2012 Venue: CII‐Godrej GBC, Seminar Hall, Hyderabad, Andhra Pradesh, India Organizer: Confederation of Indian Industry (CII) Website: http://www.cii.in Contact ID: k.raman@cii.in Contact No: 91‐40‐44185174
‘Doing Projects Right in Manufacturing Using Real Time Synchronization’ Date: 2nd – 3rd February 2012 Venue: CII ‐ Naoroji Godrej Centre of Excellence, Godrej Station‐side Colony Pirojshanagar, Vikhroli (East) Mumbai‐400070 Maharashtra, India Website: http://www.cii.in Contact No: +91‐22‐2574 4246 Contact ID: s.d.puranik@cii.in
MANUFACTURING INNOVATION MISSION Date: 9th – 12th February 2012 Venue: Gurgaon & Noida, Gurgaon, Haryana, India Organizer: Confederation of Indian Industry (CII) Website: http://www.cii.in Contact ID: abhishek.dixit@cii.in Contact No: +91‐124‐4014060‐67
Training Program on Manufacturing Excellence Date: 10th February 2012 Venue: Hotel Rudra Continental, Rudra Chowk, Opposite Indane Gas Agency, Rudrapur, Uttarakhand, India Website: http://www.cii.in Contact ID: vishal.sharma@cii.in Contact No: 91‐172‐5080784
Manufacturing and Construction – Monthly Update
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Manufacturing and Construction – Monthly Update