Press Release
TCIL creates new records and moves towards
becoming the packaging solution provider
The Board of Directors of The Tinplate Company of
India Limited at its meeting held at Kolkata on 25th April 2005 has approved the Annual
Accounts of the Company for the financial year ended 31st March 05. Company's performance
has shown significant improvements in all areas and has surpassed all previous record
levels of production, sales and profits. Profit before tax at Rs 32.15 Crs compared to Rs
21.34 Crs in the previous financial year represents an approx. increase of 50% and EVA
positivity has further improved during the year ended on 31st March 2005.
The Company posted sales of over 143,000 MT i.e.
approx 10% higher than the previous financial year. Exports (US $ 29 Million FOB)
comprising 23% of total sales continued to be thrust area for serving select markets in
South East Asia, Middle East, Europe & the neighbouring countries. The Company
leveraged on the relationships built over the years with key customers by providing them
packaging solutions and one of these initiatives, an innovative 3-tier tea caddy developed
in synergy with brand owner and can maker received best can award in food category by
'APEAL' during International Packaging Conference at Dusseldorf on 21st April '05.
Through sustained pursuit of strategic
improvement initiatives adopted by the company like Total Plant Maintenance (TPM), Total
Operational Performance (TOP), Six Sigma and focus on technology upgradation, the Company
achieved new records of throughput and productivity both at CRM & ETP Plants. These
initiatives have enabled the Company to hedge the impact of adverse factors during the
year like customs duty reduction on imports of tinplate from 25% to 5%, significant
reduction of DEPB benefits for exports and most importantly, substantial increase in major
input costs like on Hot Rolled Coils & Tin. Whereas ETP production for the year
reached 140,665 MT as compared to 127,984 MT of the previous year, CRM production was at
167,217 MT as compared to the previous year's production of 154,211 MT. Continued alliance
with Nippon Steel Corporation, Japan and Arcelor Packaging International, France towards
de-bottlenecking and process upgradation provided necessary impetus for achieving these
records. The company shall be challenging the TPM Award in Japan this year in October.
The Company is continuously ploughing its
earnings towards investments for technology upgradation, capacity enhancement and other
growth strategies and is now firming up its plans for doubling its capacity, backed up
with Strategic Plans prepared in conjunction with Boston Consulting Group. Towards this,
the company is ramping up the ETP capacity this year by 20% at an investment of Rs. 42
Crores. Besides, in order to address its strategic role of becoming a cost effective
packaging solution provider, the company is planning for initial investment of Rs. 16 Crs
in the current year, in downstream value added facilities like printing and lacquering
followed by investments to provide added products and services with focus on innovation
and consumer convenience. |
