Financial Daily from THE HINDU group of publications
Wednesday, May 03, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 03, 2006 |
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Corporate
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New Projects Uniply to set up plant in UP Our Bureau
Chennai , May 2 Uniply Industries Ltd, a Chennai-based plywood and panel manufacturing company, plants to set up a 40,000 cu. m a year plant in Uttar Pradesh. It also plans to set up a 50,000 cu. m plant (location of the plant was not disclosed) and a power project, besides going in for an acquisition, according to Mr B.L. Bengani, Chairman and Managing Director, Uniply. The plant in Uttar Pradesh will help the company secure orders in North India, according to him. Mr Bengani said Uniply planned to acquire a wood estate to source raw material. Till now, the company imported wood. Uniply will fund these projects through internal accruals and debt. Uniply has reported a turnover of Rs 71.70 crore for 2005-06, compared to Rs 60.02 crore last year. Profit after tax went up to Rs 3.04 crore from Rs 1.48 crore previously. The domestic market contributed 65 per cent of total revenues owing to the infrastructure boom, said Mr Bengani.
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