Press Release
TCIL has continued to report significant
improvement in its operational results reporting a profit after tax of Rs.6.58 Crores in
the 3rd quarter
The Tinplate Company of India Limited has
continued to report significant improvement in its operational results reporting a profit
after tax of Rs.6.58 Crores in the 3rd quarter and Rs.15.63 Crores for the 9 months period
ending 31st December 2003. The operations in the plant recorded a capacity utilization of
126% during FY 02-03 and are expected to show further improvements during the current
year. As an evidence of significant improvements in the quality of its products, the
company was able to export 28% of its products to 12 different countries in the Middle and
South East Asia as well as Europe. In these markets the competition is mainly from world
class European and Japanese tinplate manufacturers.
The company could achieve above performance due
to the continued pursuit of business excellence and adopting various continuous
improvement initiatives. In recognition to these efforts, TCIL was declared the winner of
prestigious Golden Peacock National Quality Award for the year 2003 in the Manufacturing -
Large Sector. The award is instituted by the Institute of Directors (IOD) and this year
the jury was headed by Justice A.M. Ahmadi, Former Chief Justice, Supreme Court of India.
The award was presented during the special gala award night held on 24th January 2004 at
Bangalore and Mr. B.L.Raina, Managing Director received the award on behalf of TCIL.
Earlier the company was recognized by CII, with
CII Exim Commendation Certificate for strong commitment to TQM in 2003 and also recognized
by the Group Chairman under the Tata Business Excellence Model for Active Promotion of
Business Excellence which was given away by Mr. Ratan N. Tata on 29th July 2003 at Mumbai.
The company has taken-up a number of initiatives
in consultation with Nippon Steel Corporation in the growth plan to enhance its capacity
to 145,000 MT of tinplate production by June 2004 from its name plate capacity of 90,000
MT. The progress of this plan is on schedule and has just completed one part of this
project in December 2003 in a record time of 4 days only. The expected outlay of its
growth plan is about Rs.46.00 Crores which is being funded totally by internal accruals.
The company is now focusing on the market and
product development in a structured manner and is very optimistic about the future growth
of the company's business in India. |
