The Hindu Business Line : STCL net up 67 pc

The company reported net profit of Rs 5.98 crore on turnover of Rs 470.78 crore, compared to net of Rs 3.58 crore on revenues of Rs 431.96 crore in the previous year.

Mr Arvind Pandalai, Chairman, attributed the growth to qualitative changes in marketing strategies and continued thrust on identifying new product lines.

Flavourit hit in US

The Flavourit Brand of organic spices, promoted by the Spices Board and being marketed by STCL, has evoked good response especially in the US market, he said, adding that the company was in the process of appointing distributors in the overseas markets.

In a bid to protect farmers' interest, STCL played an active role in selling fertilisers to tobacco growers and supplying quality agro-chemicals and other inputs for plantations in Karnataka.

AID for coffee growers

With a view to helping small coffee growers avoid distress sale, it offered finance at a concessional interest rate against depositing of their stocks.

Mr K.C. Ponnanna, Managing Director, said the company had been conducting cardamom auctions regularly, ensuring good price for growers.

STCL plans to set up chilli and pepper processing plants at Byadagi in Haveri district and Siddapur in Kodagu district of Karnataka respectively at a total investment of Rs 7-8 crore, he added.

The company also supplied seedlings and agricultural implements to tribals in the South, Mr Pandalai said.

"The aim is to help growers get better remunerative prices for their produce by value addition with financial assistance from the Union and State Governments," Mr Ponnanna said.

The two plants would become operational during the current financial year, he said, adding that STCL would encourage farmers to produce organic and conventional spices for the export market and to increase the export share of value-added products from the country.

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