Ispat Industries estimate a revenue increase in 2003/2004
Indian steelmaker Ispat Industries reported that for the fiscal year 2003/2004, it estimates a gross profit of Rupees 7 billion (approx. $153 million) which is eight times higher than last year's result. This optimistic forecasted figure is attributed to the strong domestic demand and company's rising exports.
The company's sales are expected as Rupees 40 billion for this period, up by 26.5% while exports will reach to 780'000 tons with an increase of 62.5%.
Company officials stated that the mill will invest Rupees 8.9 billion during the next 18 months to increase capacity, with a coal-preparation plant, oxygen plant and sinter
production. Accordingly, annual output will reach to 3 million tons in 2004/2005 against the current fiscal's 2.4 million tons.