Nitta Gelatin India (NGIL) has achieved a net profit of ₹5.10 crore in FY15 against a loss of ₹4.96 crore incurred in the previous fiscal. In the quarter ended March 31, 2015 also, the company has registered a PAT of ₹2.26 crore.
The company was in the red in the previous year’s Q4 with a loss of ₹61 lakh, fighting all odds, including a temporary shutdown of operations at its Ossein plant in Kathikudam, Thrissur.
NGIL has achieved a growth of 24.4 per cent on the sales front, achieving ₹350.49 crore as operational income compared with ₹281.74 crore in the previous year.
The board has approved a proposal involving around ₹15.80 crore capital to augment the environment management infrastructure at its production centres.
To finance the capital expenditure, the shareholders have approved the issue of 9,29,412 Optionally Convertible Preference Shares (OCPS) at a face value of ₹170 per OCPS to Nitta Gelatin Inc.
According to Sajiv K. Menon, Managing Director, NGIL, this is a true reflection of Nitta Gelatin, Japan’s commitment to the highest environment standards and to protect the interests of all stakeholders involved, while reiterating its commitment to sustainable operations and the future of the Indian company.
NGIL is the country’s second largest gelatine manufacturer, an essential ingredient in pharmaceuticals and neturaceutical industries and in many processed food products.