It is reported that BOC India 2009 turnover jumped to IN 836 crore, the highest growth the company has seen for 75 years. The company reported gross turnover of INR 836 crore, representing an overall increase of approximately 46% over the turnover achieved in the previous year.
The company has recorded profit before interest and exceptional items of INR 87 crore for the year ended December 31st 2009, which reflects a healthy growth of 48% over the preceding year, driven by strong growth in the base business and new tonnage business during the year, coupled with operating and other cost efficiencies.
The net profit in the year 2009 amounted to INR 53 crore. The previous year figure of INR 80 crore included a large interest income of INR 24 crore and an exceptional income of INR 25 crore, mainly comprising sale of property and a gain arising from finance lease arrangement.
While the gases business recorded a growth of about 25% over the previous year, the turnover of the Project Engineering business witnessed growth of more than 100% over 2008.
The growth in the Gases business was mainly driven by higher volumes from the tonnage business, significantly on the back of gas supplies from the new 1800 tonnes per day plant to JSW Steel at Bellary.
The other drivers to the growth of the gases business have been the higher volumes achieved by the healthcare business and packaged gases, mainly the specialty gases.
The report said that the company is in the midst of executing several large Air Separation Units for customers across the steel sector, besides merchant ASUs to increase its presence in the Northern and Western markets in India.
Mr S K Menon MD of BOC India Ltd said that "BOC India has reached an important landmark earlier this year of having completed 75 years of partnering Indian industry. It has been heartening to note that during this year, the company has recorded its highest ever turnover of Rs.835 crore.”
He added that “Our investment to set up a new 2550 tonnes per day ASU for TATA Steel at Jamshedpur will further strengthen our fruitful partnership with this important customer. Once commissioned in 2012, our Jamshedpur ASU will be the largest of its kind in India, and will enable us to consolidate our leading position in the Indian gases market.”
