The Hindu Business Line : Murli Agro net up 87 pc in 2004-05

MURLI Agro Products Ltd, a manufacturer of paper and solvent extraction, has reported an 87 per cent increase in net profit at Rs 14.28 crore for the financial year 2004-05 from Rs 7.63 crore for the previous year.

Sales turnover for the year was lower at Rs 313.47 crore (Rs 352.62 crore). The drop in sales was due to concentration on high margin products with low sales value, which has resulted in lower sales but increased profitability, the company said.

The company has put into effect expansion plans to achieve a turnover of Rs 500 crore by the end of March 2006.

"The strategy for the future growth includes sustaining profitability of the solvent extraction business, introduce value-added products in the paper business, and commissioning of copier paper facility over next 5-6 months," Mr Nandlal Maloo, Managing Director of Murli Agro Products Ltd, said.

The company is actively looking at setting up a greenfield 2.5-million-tonne cement project with 50 MW power plant in Maharashtra and a detailed programme is being worked out, he added.

The company has two solvent extraction plants — one with a soya crushing capacity of 400 tonnes per day and an oil refinery of 100 tonnes; the second one has 800-tonnes-per-day crushing and 150-TPD refinery capacity. At present, Murli Agro exports 80 per cent of its de-oiled cake to South East Asian countries.

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