Press Release
The Tinplate Company of India Limited has
reported an impressive performance in the half year ended September 2003
The Tinplate Company of India Limited has
reported an impressive performance in the half year ended September 2003. The Company
expects a profit after tax of about Rs.900 lacs in the first half of the current financial
year as compared to Rs.43 lacs for the corresponding period last year.
Both production and sales have been higher by 11%
and 13% respectively as compared to the first half of FY 02 - 03. The Company continues to
export its products directly to Can manufacturers in the Middle East, South East Asian
Countries and discerning can fabricators in Europe, where competition is from world class
producers. The Company exported 28% of its production in FY 02-03 and this trend is
expected to be maintained during the current Financial Year.
Business excellence initiatives undertaken by
TCIL have resulted in the Company being recognized with the JRDQV Award for "Active
Promotion" of Business Excellence earlier this year. The Company has also just bagged
Commendation Certificate under the CII EximBank Award 2003 for its "Strong
Commitment" to Total Quality Management, reinforcing the success of its efforts
towards driving Business Excellence across the Company.
The Company is currently in the process of
enhancing its capacity by investing approximately Rs.50 Crs. entirely through internal
accruals, in the current and following financial year. This is expected to ramp up
capacity utilization to 138% this year and to 160% in the next financial year.
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