The Hindu Business Line : Vishal Exports shifts focus to precious metals

FOLLOWING the adverse implications of European Union restrictions on exports of Indian frozen foods, Ahmedabad-based Vishal Exports Ltd (VEL) has consciously reduced its exposure to frozen foods and shifted its focus towards precious metals.

As against a turnover of Rs 357.51 crore in 2000-01 in frozen foods, the company recorded Rs 199.47 crore during 2001-02 and further reduced the exposure to Rs 45.43 crore during the fiscal ended March 31, 2003.

The company has increased its focus on precious metals at Rs 131.89 crore during last fiscal compared with Rs 49.5 crore in the previous fiscal. During the first seven months of 2003-04, it recorded a turnover of Rs 163.46 crore in precious metals.

At a press conference here on Tuesday, as a part of roadshows for the Offer for Sale of shares by the company's investors, the VEL Chief Financial Officer, Mr T.G. Natarajan, said with the situation on export of frozen foods improving, the company is increasing its exposure once again.

More Stories on : Announcements | Diversification | Foods & Food Processing

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