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Pashupati Seohung's exports go up

Our Bureau

CALCUTTA, Sept. 26

PASHUPATI Seohung Ltd (PSL) achieved a significantly higher level of exports and capacity utilisation in the last financial year, Mr M.L. Murarka, the Chairman and Managing Director, has said.

The company exported 92.96 million pieces of condoms, amounting to Rs 10.81 crore in 1999-2000 as against 47.45 million pieces worth Rs 5.72 crore in 1998-99.

PSL recently bagged an order for 46.42 million pieces through a global tender from Nepal, which was expected to boost exports significantly.

During 1999-2000, PSL, whose facility at Baidyabati in Hooghly is a 100-per cent EoU, achieved 97.83 per cent capacity utilisation and produced 78.27 million pieces, as against the installed capacity of 80 million pieces.

Mr B.K. Dutta Chowdhury, President of PSL, told Business Line after the company's 8th AGM on Tuesday that this was achieved in the very first year following capacity expansion from 40 million pieces to 80 million.

To improve packaging of the off-the-shelf products, PSL has developed a new foil structure, both in aluminium and PET-poly combinations, Mr Chowdhury said.

PSL recorded a total turnover of Rs 11.78 crore (Rs 6.52 crore) and a net profit of Rs 1.94 crore (Rs 1.51 crore). To conserve resources, the PSL board has not recommended any dividend for the year.

As the company's scrip would have to be compulsorily dematerialised by March 26, 2001, shareholders passed an enabling resolution at the AGM.