Financials - Q1, FY '05 - 26 July 2004

Kanoria Chemicals & Industries Limited (KCI) announces improved performance for Q1, FY '05
Q1, FY '05 Net Profit up by 30.9 % to Rs. 3.05 crores; Turnover up by 6.4 % to Rs. 88.3 crores.
Kanoria Chemicals & Industries Limited, one of the leading Indian manufacturers of chemical intermediates, today announced its financial results for the first quarter of the current financial year. Net profit for Q1, FY '05 has risen by 30.9% to Rs. 3.05 crores from Rs. 2.33 crores in the corresponding quarter of the previous year on the back of an 6.4% increase in turnover to Rs. 88.30 crores from Rs.83.01 crores in the previous year.

Financial Performance

Highlights of Q1, FY '05 (April '04 to June '04) v/s Q1, FY '04 (April '03 to June '03)
  • Turnover increased by 6.37 % to Rs. 88.30 crores from Rs. 83.01crores
  • Net Profit increased by 30.9 % to Rs. 3.05 crores from Rs. 2.33 crores
  • EPS on basic and diluted earnings is Rs.1.67 against Rs. 1.16
Commenting on the company's performance for the year 2003-04, Mr. R.V. Kanoria, Chairman & Managing Director, Kanoria Chemicals & Industries, said:

"The company has posted excellent results in the current quarter as a result of capacity enhancements in certain product categories and focus on optimising operations across our plants. We are now focusing on aggressively marketing our key growth driving products in order to further enhance our market share. This is expected to show results in the current financial year."
Status of Ongoing Expansion Projects
KCI has embarked on a twin complimentary project to enhance its captive power generating capacity at Renukoot complex along with installation of a membrane cell technology based Chlor-alkali plant having a capacity of 110 TPD.
Power Plant
The foundation for an additional state-of-the-art power plant of 25 MW capacity using the latest, compact, efficient and environment friendly Circulating Fluidised Bed Combustion (CFBC) technology, has been laid and the civil construction is progressing as per schedule. The project is being managed by Thermax Limited on a turnkey basis.
The contract to execute the 110 TPD Chlor-alkali plant based on the latest environment friendly Membrane Cell technology has been awarded to Uhde (India) Limited. Engineering work related to the project has been initiated and is progressing satisfactorily.