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The Anakapalli monolithics refractory has an existing capacity of 120,000 tonne per annum and the company has proposed capacity addition of 120,000 tonne per annum, to meet the growing demand.
Meanwhile, the electrodes manufacturer has also announced its Q2 CY2023 results.
The company reported 77.5% surge in net profit to Rs 52.24 crore in Q2 CY23 from Rs 29.43 crore in Q2 CY22.
Revenue from operations increased 22.8% year on year (YoY) to Rs 402.14 crore in the quarter ended 30 June 2023.
Profit before tax in the quarter ended June 2023 stood at Rs 70.02 crore, up 78.1% from Rs 39.31 crore posted in the same quarter last year.
Total expenditure spiked 16.32% to Rs 343.41 crore during the quarter as compared with the same period last year, due to higher raw material costs (up 28.93% YoY), higher employee expenses (up 26.04% YoY) and higher other expenses (up 12.2% YoY).
Vesuvius India is engaged in the business of manufacturing, trading and sale of a range of refractories. At present the company has four factories one each at Kolkata, Mehsana and two at Visakhapatnam and one manufacturing arrangement at Salem. The Kolkata factory manufactures continuous casting refractories including slide gate equipments and porous plugs, the Visakhapatnam factories manufacture monolithics , pre-cast shapes and taphole clay and the Mehsana factory manufactures crucibles for non-ferrous industry. The manufacturing arrangement at Salem supplies basic monolithics for tundish application.
The counter has been freezed at its life-time high of Rs 3,218.70 in intraday today on the BSE.
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