Indo Rama Synthetics’, India’s largest dedicated polyester manufacturer saw its sales volume rise 16.13 per cent for the quarter ended on September 30, 2016. But it reported a net loss of Rs 14.69 crores for the quarter that ended on September 30, 2016, compared to a net loss of Rs 49.71 crores in the corresponding quarter of last year.
Operational EBIDTA for the quarter was Rs 3.47 crores, compared to Rs 0.60 crores in the corresponding quarter of last year. The company reported operational revenue of Rs 766.16 crores during the quarter, compared to Rs 695.03 crores for the same period of the previous year.
The main business activities are textiles, polyesters, and industrial chemicals. However in the last few years there has been an oversupply of polyester in the industry. This has resulted in lower profit margins for the company. Indo Rama has taken several initiatives to improve its operational performance in terms of specialty products, higher capacity utilisation, cost control initiatives and addition of new customers. The production capacity is 6,10,050 tons per annum of polyester staple fiber, filament yarn, draw texturized yarn, fully drawn yarn and textile grade chips. Besides India Indo Rama has a strong presence in Indonesia, Thailand, USA, Nepal and Sri Lanka.
