ChemicalTradeIntelligence104-A,“RAJUMANG”NexttoMarutiNagar,Ashokvan,DahisarEast,Bombay400068,INDIA.Tel:91-22-28972770,28970256&Fax:28972770.E-mail:ibiskus@vsnl.comWebsite:http://www.tradeintelligence.comCTI-VOL.IX,NO.4-MAY16,2003RELIANCECOPESWITHSLOWDEMANDGROWTHRelianceIndustriesLtd.hasreportedthatitsnetturnoverfortheyearendedMarch2003rosetoRs.45,910crorefromRs.42,096crinthepreviousyear.NetearningsrosetoRs.4,003crorefromRs.3280crinthepreviousyear.ThecompanyhasapaidupequitybaseofRs.1396crandreservesofRs.26,243cr.Acompanystatementsaidthattheincreaseinsalesreflectedtheimpactofincreaseinproductsellingpricesduringtheyear.Duringtheyear,rawmaterialpricesremainedhighlyvolatile,anddomesticproductpricesdidnotkeeppacewiththechangesinrawmaterialprices.Reliancehasreportedthatitsproductionofoil&gasandpetrochemicals,includingtollconversion,increasedto11.8milliontonnesfrom11.5milliontonnesinthepreviousyear.TheCompany’srefineryoperatedat106%capacityutilisationandprocessed28.56milliontonnesofcrudeduringtheyear.ExportsincludingdeemedexportswereRs11,510crorescomparedwithRs11,200croreinthepreviousyear.ProductionvolumesofPFY,PSFandPETincreased5%to851,000tonnes.DemandforPFY,PSFandPET,fortheyearwas10%higherat1,468,000tonnes.Relianceisalsothecountry’slargestmanufacturerofpolyesterintermediates,PX,PTAandMEGwithamarketshareof78%.ProductionofPX,PTAandMEGincreased7%to3,075,000tonnes.AsthelargestmanufacturerofPP,PEandPVC,inthecountry,withamarketshareof48%,thecompanyraisedproductionvolumesofPP,PEandPVCby4%to1,769,000tonnes.Therewasgreaterfocusonhighvaluepremiumproducts,withspecialitygradescontributing19%ofproduction,andgeneratingapremiumof2-15%overcommodityprices.Domesticdemanddecreasedby5%duringtheyear,reflectingtheimpactofgeneralslowdownintheeconomyandpricevolatility.Reliancealsooperatestheworld’slargestgrassroots,multi-feedcrackeratitsHazirapetrochemicalscomplex.Duringtheyearitproduced807,000tonnesofethylene,up5%.Propyleneproductiontouched369,000t,anincreaseof5%.OutputofLinearAlkylBenzene(LAB)rose9%to116,000tonnes.INBRIEF…….*TheNPPAhasnotifiedthatthemaximumsellingpriceforthebulkdrugPrednisolonewillbeRs.58,520perkgandforPrednisoloneAcetateRs.38,560perkg.*TheempoweredcommitteeofstatefinanceministershasdecidedtoreduceVATonmedicinesfrom12.5%to4%andabolishthetaxonlifesavingdrugs.Sofar16states,accountingforthree-fourthsofthecountry’strade,haveagreedtoimplementVATfromJune1.*Crudeoutputrose3.3%to33.07mtin2002-03from32.03mtinthepreviousyear,accordingtothepetroleumministry.Refineryproductionrose4.9%to112.5mtfrom107.3mtin2001-02.*MerckofGermanyistolicenceSumitomoPharmaceuticalsforproductionofitsanti-diabetesdrugsforsaleinJapan.ThedrugsinquestionhaveenjoyedsalesofoverEuros3billionannually.Japanhastheworld’sfifthlargestdiabeticpopulation.*MeanwhileMerckIndiaLtdhasdecidedtosellitsTalojafacility.*IPCL,whichwasacquiredbyReliancelastyear,hasreportedhighersalesofRs.5798crin2002-03againstRs.5527crinthepreviousyear.ExportsrosetoRs.424crfromRs.184cr,whilenetearningsrosetoRs.204crfromRs.107cr.ProductionofPP,ChemicalTradeIntelligence104-A,“RAJUMANG”NexttoMarutiNagar,Ashokvan,DahisarEast,Bombay400068,INDIA.Tel:91-22-28972770,28970256&Fax:28972770.E-mail:ibiskus@vsnl.comWebsite:http://www.tradeintelligence.comPEandPVCrose5%to966,000tonneswhileethyleneproductionrose22%to816,000tonnes.Overallproductionvolumesrose...
