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Ambar Singh Roy

Kolkata, May 2 With several steel-making capacities, that are being set up in the country, expected to go on stream during the next 2-3 years, and the domestic steel industry projected to grow in double-digit from 2010-11 onwards, refractory manufacturer Vesuvius India Ltd is hopeful of sustaining topline growth of 15-20 per cent from 2011-12.

Mr Tanmay Kumar Ganguly, Managing Director of Vesuvius India, said that the company achieved a topline growth of 17 per cent in the calendar year 2007.

“Last year, when the steel industry grew at 8-9 per cent, Vesuvius India achieved a topline growth of 17 per cent. This was driven by a strong domestic growth of 20 per cent and a more modest export growth of 11 per cent. With the steel industry expected to grow in double-digits by 2010-11, we as a company hope to achieve a topline growth of 15-20 per cent from fiscal 2011-12,” he said.

Speaking to Business Line, Mr Ganguly said Vesuvius had evolved from being a refractory manufacturer and seller to a company that offers “total solutions”. At present, 50-60 per cent of the company’s new service contracts could be attributed to its new positioning as a total solutions provider. This had facilitated better market penetration and, currently, the company has a 52 per cent share of the domestic market for continuous casting refractories.

He said the capacity of Vesuvius’ factory in Kolkata was being doubled to 1,600-pieces a day from 800 at present, at an investment of Rs 50 crore. The company has already commissioned its 40,000-tonnes a year refractory manufacturing unit at Visakhapatnam.

During the year ended December 31, 2007, Vesuvius India registered a total income of Rs 323.10 crore, up from Rs 275.84 crore posted in the previous year. In 2007, the company posted a net profit of Rs 32.07 crore compared with Rs 21.18 crore in 2006.

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