Vizag-based Alufluoride Limited earned a net profit of Rs 23 lakh in the 2005-06 financial year, as compared to a net loss of Rs 30 lakh in 2004-05. Besides, the company paid Rs 84 lakh to financial institutions as final payments and has become a debt-free firm. | |
| In the 2005-06 financial year, the company posted a turnover of Rs 19.45 crore as compared to 12.48 crore in 2004-05, reflecting a growth of about 56 per cent. It expects to garner a turnover of Rs 29.23 crore with net margins of Rs 3.29 crore in the current financial year. |
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| "In the current financial year, we plan to operate our unit with full capacity. To achieve this, we have tied up with Tuticorin-based Sterilite's fertiliser unit for supply of raw material. We expect our production to touch 6,000 tonnes as compared to 4,723 tonnes in 2005-06," company sources told Business Standard. |
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| Alufluoride limited, a listed company on the Bombay Stock Exchange, and the only firm in Andhra Pradesh that is engaged in the manufacture of high purity aluminium fluoride, an important raw material used in aluminium smelters, was set up in 1995 with an investment of over Rs 20 crore. Of the total investment, Rs 13 crore was borrowed from financial institutions. |
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| "The company repaid close to Rs 20 crore (inclusive of interests) to financial institutions over the past 11 years, and has now become debt-free," sources said. |
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