The Hindu Business Line : Anil Products’ annual profit up 32%

Ahmedabad, July 3 Anil Products Ltd (APL), one of India’s largest corn wet millers (CWM) and a leading manufacturer of starch, Tuesday reported a 32 per cent increase in annual profit after tax (PAT) for the financial year ended March 31, 2008.

According to the audited annual results, profits of APL stood at Rs 7.23 crore in 2007-08 against Rs 5.4 crore for the previous fiscal. The rise in profits was aided by improved operational efficiencies and growing sales of higher-value modified starch range of products. APL recorded an EBIDTA of Rs 25.87 crore, up by 37.23 per cent, and gross income of Rs 244.7 crore in 2007-08 against an EBIDTA of Rs 18.8 crore on gross income of Rs 216.98 crore in 2006-07.

Profit before tax for 2007-08 was higher by 39 per cent at Rs 18.81 crore (Rs 12.25 crore).Mr Amol Sheth, Managing Director of APL, said, “We continue to improve our profits while investing for future growth with a persistent focus on achieving higher EBIDTA through twin-track approach of better operational efficiencies and higher sales of value-added products. On the operational side, more efficient energy utilisation and better yields have contributed significantly. On the topline, income from value-added modified starch is on the rise.”

In 2007-08, modified starch products accounted for almost 20 per cent of income. He said the demand for modified starch is growing in India and export markets in food, paper and textile industry. During the year, APL launched an array of innovative modified starch products for the customer industries.

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