The State-owned Travancore Cochin Chemicals (TCC) has garnered a record profit of ₹32 crore in FY 18 on a turnover of ₹241 crore.
K Harikumar, the company’s Managing Director said it was a major achievement for a company, which was running on an accumulated loss of nearly ₹25 crore two years ago. The profit in FY17 was ₹6 crore.
He attributed the record performance to the cumulative effect of various factors, including maximising production, better marketing, and the availability of power at competitive rates. The benefit from open access to power was worth ₹1.5 crore last year and the company's power requirement was around 4.8 lakh units daily.
Going forward, he said, the company has lined up several development plans with an investment of ₹50 crore. Caustic soda production will be increased from the present 175 tonnes to 250 tonnes daily and the project will be completed in 18 months. In the second phase, the capacity will be increased to 350 tonnes daily. With the completion of the capacity expansion, the turnover is expected to touch ₹600 crore.
For the first time, TCC started exporting caustic soda to African countries and has earned an export revenue of ₹2.4 crore. There are also plans to earmark ₹10 crore for steam recovery from the hydrochloric acid plant, which will make the production process more efficient and cost-effective as furnace oil use will come down considerably, he added.
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