Financial Daily from THE HINDU group of publications
Tuesday, Oct 07, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 07, 2003 |
|
|
|
|
|
Corporate
-
Outlook Everest Ind pins hopes on good monsoon K.R. Srivats
New Delhi , Oct. 6 EVEREST Industries Ltd (EIL), an ACC subsidiary, has registered 16 per cent growth in sales volumes of fibre cement products at 1.55 lakh tonnes during the April-September 2003 period, according to Mr Manish Sanghi, Executive Director (Marketing). Speaking to Business Line on sales growth prospects for the company's products in the current fiscal, Mr Sanghi said that the current trend of good monsoons augur well for the company and are expected to further boost the demand for EIL's products, especially the fibre cement roofing products. "The roofing industry has two main customer segments - industrial and rural. The good monsoons of the current year would have positive impact on rural demand. We also expect the industrial demand, which has been low, to pick up during the current year." In an attempt to build a stronger relationship with second-tier distributors, the company has launched the `Shubh Labh' loyalty programme for such distributors. "Our second tier distributors stock multi-brands. Through the loyalty programme, which is on the lines of any frequent flyer programme, we are trying to ensure that such second tier distributors continue to stock our products for sure." He did admit to the existence of price pressure on the company's fibre cement roofing products. On the company's flat boards business, Mr Sanghi said that EIL is looking at introducing variants of fibre cement boards to widen the application base of such boards. "We are looking at variants to take care of newer applications like flooring and pre-fab housing." Currently, EIL's E-Board and E-Board Classic, the existing brands of fibre cement boards, find application in false ceilings, partitions, panelling and doors. The total market size in value terms for building boards, excluding the plywood and gypsum boards, is currently estimated at Rs 55 crore a year. For the 15-month period ended March 31, 2003 Everest Industries registered a net profit of Rs 9.50 crore on gross revenue of Rs 211.15 crore.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|