PALAKKAD: The State public sector Malabar Cements Limited, Walayar, has made an all-time record profit of Rs.24.76 crore during the 2006-07 financial year.

Addressing a press conference here on Saturday, company Chairman and Principal Secretary (Industry and Commerce) T. Balakrishnan and Managing Director K.S. Srinivas said the company also had record turnover during the period. The turnover during 2006-07 rose to Rs.239 crore from Rs.228 crore of the previous year.

They said the accumulated profit of the company stood at Rs.78 crore on March 31, 2007.

The Director Board of the company, which met here on Saturday, declared a dividend of Rs.1.03 crore to the Government.

They said that in the current financial year, the company expected to increase the production from the current 6 lakh tonne to 8 lakh tonne and increase the profit to Rs.40 crore.

Cost-cutting measures

The Managing Director said the cost-cutting on clinker purchase, transporting of materials, gunny bags and the import of coal etc., helped the company reduce its cost of production and thereby increase its profit. The company saved Rs.3 crore annually in the transport cost of clinker from Walayar to Cherthala plant. It saved Rs.1.55 per gunny bag used to pack cement, thereby saving Rs.75 lakh annually on gunny bag purchase alone.

Mr. Srinivas said the company had taken up modernisation of its mining plant. It was installing a Rs.7-crore pollution control system. Installation of electronic packer and wagon loader was also being taken up.

The company had entered into an agreement to purchase limestone from a public sector company of Tamil Nadu. The Malabar Cements had limestone deposit that could last another 20 years. But to preserve the deposit, more limestone was being purchased from outside, he added.

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