December 04, 2008
Mahindra Ugine Q2 net down by 46% YoY
Mahindra Ugine Steel has posted a net profit of INR 75.11 million for the July to September 2007 quarter down by 46.21%YoY as compared with INR 139.64 million for the July to September 2006 quarter. Its net sales rose by 20.22% YoY to INR 2,280.40 from INR 1,896.92 million.
Its total income stood at INR 2,282.31 million for the July to September 2007 quarter up by 20.1% YoY where as the same was at INR 1,900.20 million for July to September 2006 quarter.
| Source | July-Sep’06 | July-Sep’07 | Change |
| Net Sales | 1,896.92 | 2,280.40 | 20.2% |
| Net Profit | 139.64 | 75.11 | -46.2% |
Mahindra Ugine Steel, part of the Mahindra group, manufactures alloy steel and stampings. Its steel division manufactures tool, alloy and special steels through the electric arc furnace route and caters to high end applications in the bearings, railways, automotive, engineering, and other industries. The plant is located in Khopoli with an installed capacity of 180,000 tonnes per annum. The stampings division manufactures panels, pressed sheet metal components and assemblies for the automobile industries. It has three factories at Kanhe and Nasik in Maharashtra and a new plant for metal pressing and painting in Rudrapur, Uttaranchal. The company produced 29,500 tons of stampings in 2006-2007.
