Higher international sales boosted the company’s topline even as global economic environment remained challenging. It plans to invest in plants to further boost topline and bottomline
Jindal Saw, one of the leading pipe manufacturers, recorded net profit of Rs60 for the three months ended December 2012, which is 64.4% higher than what it recorded for the corresponding period a year ago at Rs36.5 crore.
Likewise, its sales turnover was higher, at Rs1,722 crore, for the December 2012 quarter, as against Rs1,093 crore for the same quarter last year. This meant sales turnover went up 67% on higher sales.
The company sold 2.59 lakh tonnes pipes, out of which overseas sales took 67% of the total pipes sold. This is respectable considering global economic environment was challenging. Domestic sales contributed to the remainder of the 2.59 lakh tonnes sold.
The company recorded as much as $500 million worth of orders during the quarter.
However, net debt remains a concern. At the end of January, its liabilities stood at Rs3,200 crore. The company remarked that it will raise long-term funds to meet capital expenditure. The company also added that it will invest in an iron o re and pellet plant to boost sales and profitability.
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