HPC group targets higher business

Kolkata, Apr 2(UNI) Hindustan Paper Corporation Limited (HPC) is aiming at a sales turnover of Rs 1177 crores and a profit before tax of Rs 150 crores for the financial year 2006-07.

HPC has set a target of 3,30,000 tonnes for production of writing and printing paper/newsprint in the current fiscal.

"HPC is poised to become a Rs 3000 crore group by 2011 with installed capacity for producing over 800,000 tonnes of paper/newsprint," company's spokesperson S R Qureshi said here today.

The Modernization and Technological Upgradation Plans at the Assam mills and the Expansion-cum-Diversification Project at the Kerala mills are being supplimented by a massive investment programme for a state-of-the-art mega mill, Qureshi said.

HPC mills achieved a record sales output of 2,09,000 tonnes of writing and printing paper and 113,000 tonnes of newsprint, registering 17 per cent increase in sales turnover over that of financial year 2004-05.

HPC group has achieved a sales turnover of Rs 1001 crore against the previous best of Rs 877 crore and Rs 855 crore during financial year 2004-05.

The profit before tax has risen to Rs 100 crore from Rs 65 crore during the financial year 2004-05.

HPC operates three large integrated paper mills--two mills in Assam-- the Nagaon Paper Mill (NPM) at Jagiroad and Cachar paper Mill (CPM) at Panchgram and one mill in Kerala through its wholly owned subsidiary Hindustan Newsprint Ltd (HNL).

These three mills have achieved a production output of 320,113 tonnes exceeding the combined installed capacity of 300,000 tonnes for the fourth time in succession.

UNI ABA/TJP JYN KLC/src1044