Nelcast registers sales revenue of over Rs 400 cr

Chennai, Apr 28 (UNI) Nelcast Ltd, one of the largest producers of ductile iron castings, registered sales revenue of Rs 403.65 crore during 2007-2008 as against Rs 350 crore in the corresponding period last year.

The net profit increased by 32 per cent to reach Rs 26.02 crore as against Rs 19.77 crore in 2006-07, a company release here today said.

With its aggressive growth plan and enhanced production capacity Nelcast has targeted a turnover of over Rs 600 crore and production of over 1,00,000 mt in 2008-09.

Nelcast exports, making rapid strides, was set to cross Rs 100 crore in 2008-09. The company plans to increase exports to one fifth of its turn over, it added.

Nelcast expects to machine 20 per cent of its casting output in 2009 and raise its machining capacity each year to reach a level of 30 per cent by 2010, the release added.

UNI SNR GKT 1958