Trivandrum: Nitta Gelatin India Ltd. (NGIL), a joint venture between the Kerala State Industrial Development Corporation (KSIDC) and Nitta Gelatin Incorporated, Japan, and a leading player in the Gelatin industry, has reported a turnover of Rs.67 crores and a net profit of Rs.4.69 crores for the first quarter this fiscal. NGIL hopes to achieve a turnover of around Rs.300 crores during the current financial year. During 2011-12, NGIL had reported a turnover of Rs.240 crores and a net profit of Rs.5.08 crores, after tax.
Addressing the media in Thiruvananthapuram, G Suseelan, Managing Director, NGIL said, “The depreciating rupee and the increase in exports has helped the Company post such good results. Every year Nitta Geletin earns over Rs.150 crores in foreign exchange. The company has been getting profits and has declared a dividend of 40% for the last three years consecutively. We are also happy that our products have been well received and gained acceptance in the highly competitive markets.”
NGIL, formerly Kerala Chemicals & Proteins Ltd., started its first plant in Koratty, near Thrissur district, 1979. NGIL now has five manufacturing facilities in Kakkanad, Koratty, Aroor, Nagpur and Baroda. NGIL is one of the few government promoted companies in India to foray into consumer marketing by launching OTC products. The company today is the only bulk manufacturer of Collagen Peptide and pharmaceutical grade Gelatine.
Gelixer Collagen Pep, a nutritional supplement for bone, knee and joint health, was one of the new products developed by NGIL to target those suffering from Osteoporosis and Osteoarthritis and is its first over-the-counter product. Earlier, the company has been producing and supplying raw materials and intermediate products to the manufacturers.
NGIL has also developed the technology for manufacturing blood plasma grade gelatine which has a life saving application. Ossein, DCP, Nutri Gold and Chitosan are some of the other products from NGIL.
Last year was tough for the Company as raw material costs increased substantially and supplies of crushed bones and hydrochloric acid, which are the basic raw material for producing gelatin were erratic. This year, the material prices have stabilized and the production is progressing as planned.
Kerala Biz News