Finolex revises prices of PVC resin & pipes
By Our Corporate Bureau | 02 Feb 2005
Mumbai: Finolex Industries Limited (FIL) has increased prices of PVC resin and PVC pipes by Rs2,000 to Rs3,000 per metric ton, following the upswing in the international prices of polymers and feedstocks and the strong demand in India.
The company expects the demand for both the products to be very strong in the coming months. Finolex has already been witnessing a very strong demand for its PVC pipes from various rural markets in India. The company, which has been traditionally strong in the southern and western markets, has, as a strategic initiative, increased its distribution strength in north and east.
The company has reported a turnover of Rs291.03 crore for the third quarter ended December 31, 2004, as compared to Rs266.64 crore in the corresponding period of the previous year indicating an increase of 9 per cent. The net profit for the nine months of the current year at Rs68.26 is higher by 26 per cent as compared to the last year.
FIL is the one of the largest manufacturer of PVC pipes and third largest manufacturer of PVC resin in India. FIL has ISO 14001 certification for ''environmental management system'' for PVC and PVC Pipes plants at Ratnagiri. The company has also been accredited with the new ISO certification (IS / ISO 9001:2000) for PVC pipes plant at Pune and Ratnagiri.