Nirma Hires Deloitte Touche As Accountant

Nirma Ltd, the Rs 1,205.79-crore flagship company of Karsanbhai K Patel has appointed Touche Ross & Co, a member of Deloitte Touche Tohmatsu International, as its international accountants. The company has already circulated the international accountants' report for 1997-98 to its shareholders.

Nirma is the second private company to have roped in an international firm as its auditors. Reliance was the first to have carried out a similar exercise with the same auditors.

Nirma is presently consolidating its position in the premium segments of the soaps and detergents market. It has also started marketing iodised free-flow salt under its brand name 'Nirma'. To market products under the said brand, Nirma has floated a wholly-owned subsidiary christened 'Nirma Consumer Care Limited'. The company, incorporated on August 22, 1997, is the sole licensee of the 'Nirma' brand name within India and is also engaged in marketing products.

The detergent major is presently setting up a soda ash manufacturing unit in Bhavnagar, Gujarat. The plant may be implemented by the end of 1999.

Nirma has also commissioned the 75,000 tonnes per annum linear alkyl benzene (LAB) plant at Baroda in February 1998. This Rs 380-crore plant at the Alindra Detergent Complex will utilise the Detal Process technology of UOP Inter Americana Inc, USA. With the commissioning of this plant, Nirma has become self-sufficient in respect of LAB requirements , the key raw material for manufacturing detergents.

During 1997-98, the company registered a 33 per cent increase in its turnover to Rs 1205.79 crore from Rs 908.90 crore in the previous year. Profits stood at Rs 152.26 crore against Rs 107.19 crore in 1996-97. The company has made a provision of Rs 15.91 towards depreciation and Rs 17.81 for tax.