Companies

Srikalahasthi Pipes plans ₹100 crore capex

| | Updated on: Nov 01, 2015

Posts ₹37-cr net in second quarter

Srikalahasthi Pipes Ltd has approved a capital investment of ₹100 crore for expansion of its existing mini-blast furnace in Chittoor district of Andhra Pradesh.

This investment will increase the Ductile Iron Pipe production capacity of the company from 2,25,000 tonnes per annum to 2,85,000 tpa and includes cost reduction measures covering the pulverised coal injection plant and stave cooling system and enable it to meet the growing requirement.

GS Rathi, Whole-time Director, in a statement to the BSE has informed that in view of the upcoming water supply projects in Telangana to support the water grid, Amaravati capital development projects, infrastructure projects in the proposed 100 smart cities and 500 Amrut (Atal Mission for Rejuvenation and Urban Transformation), and various urban development and rural water supply projects, the company was hopeful of comfortable order position during the coming years.

The company posted a net profit of ₹37.34 crore for the second quarter ended September 30, 2015, against a net profit of ₹18.33 crore for the corresponding quarter last year.

Total income stood at ₹294.69 crore for the second quarter against ₹257.13 crore for the same period last year.

Last fiscal ended March 31, 2015, the company had closed with a profit of ₹82.98 crore and a turnover of ₹1083.55 crore.

Published on January 22, 2018

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