Shreyas collaborates with German Luvomax, gets Rs 30 crore order

Mumbai, Dec 31 (UNI) CPC crude producer, Shreyas Intermediates, has received a Rs 30 crore order from German Luvomax to add value for the latter's Rubber Chemical Master Batches.

The order is in collaboration and has added 30 per cent to its top line to start with and help in maintaining the company's PAT margins at 7.5 per cent, stated a release.

The company has also witnessed growth in net sales of 42 per cent in the year end in September 2007. The earnings have increased to Rs 90.72 crore this year as against Rs 63.77 crore during the previous fiscal. PAT has also increased by 35 per cent to Rs 7.24 crore as compared to the last year.

The company has completed its expansion plan of CPC crude production taking its capacity to 36,000 tonnes and is expected to emerge as one of the largest producer of CPC crude in the world with 25 per cent share of the world capacity.

The company plans to utilize 30 per cent of the expanded capacity in the coming year adding Rs 192 crore to FY08 topline, added the release.

UNI