Buoyed by an uptick in demand and rising prices, Manaksia Aluminium Company Ltd (MACL) is hoping for a turnaround with a healthy profit during the current fiscal, a top company official today said. "We are looking at profit in the current fiscal as both demand and prices are picking up.
Since the demerger in 2014, getting on to profit is a healthy sign," Manaksia Alumunium managing director Sunil Agrawal told PTI. In the last fiscal, the aluminium value-added product company posted a loss of Rs 4.61 crore. But in the first half of 2017-18, it registered Rs 1.56 crore net profit. He was speaking on the sidelines of a Bengal Chamber of Commerce and Industry organised trade and logistics conclave. Manaksia Ltd demerged four businesses retaining Africa operation. Manaksia Aluminium is one of the four companies born out of demerger. Agrawal said that the company had posted profits in the first and second quarters of the current fiscal. The company is also planning to invest Rs 30-40 crore to ramp up the production through de-bottlenecking of its Haldia plant. With the investment and modernisation, capacity will go up by 15-20 per cent from an annual capacity of 17,000-18,000 tonne of rolled aluminium products. The company is aiming for a topline jump of 15-20 per cent to around Rs 300 crore.
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