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Andhra Petrochemicals Limited
Sector:Chemicals Chemicals - Organic Chemicals
Market Lot: 1Face Value: 10ISIN Demat: INE714B01016
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Business Profile
Andhra Petrochemicals (ANDHRAPE) is engaged in the manufacture and sale of oxo-alcohols. It was incorporated on April 18, 1984.

The company manufactures including 2-ethyl hexanol, N-butanol and I-butanol. The manufacturing facility of the company is located at Visakhapatnam, Andhra Pradesh with a production capacity of 42,000 TPA. In October, 2007, an expansion and modernization program has been initiated by the company to increase the production capacity to 73,000 MTPA with the signing of a technology license and engineering supply agreements with Davy Process Technology, London (Davy). The enhanced capacity of the company is expected to be operational in the second half of 2009-2010. An uninterrupted power supply system of 2,400 KVA has been installed by the company to lower power costs.

The registered office of the company is located at Venkatarayapuram, West Godavari district, Tanuku-534215, Andhra Pradesh.

The company reported fall of 55.09% in standalone net profit on y-o-y basis to Rs 76.71 million, while total income dropped 47.61% y-o-y basis to Rs 567.02 million for the quarter ended September 2016.

Recent Developments
Net sales for the quarter declined 71.86% to Rs 156.10 million, compared with Rs 554.81 million for the prior year period.

Andhra Petrochemicals said its net loss for the quarter ended June 2014 has widened to Rs 131.48. It reported a net loss of Rs 62.17 million in the same quarter previous year. Net sales for the quarter declined 42.78% to Rs 442.95 million, compared with Rs 774.17 million for the prior year period.

ICRA has downgraded the long term rating assigned to the Rs 36.55 crore term loans and the Rs 350 million fund-based bank facilities of Andhra Petrochemicals (APL) from BBB+ to BBB-; the outlook on the long term rating continues to be Negative.

Andhra Petrochemicals announced on Monday that Shalini Misra, I.A.S., nominee director of Andhra Pradesh Industrial Development Corporation (APIDC) has resigned from the board of the company w.e.f. Apr. 12, 2013.

Credit rating agency, ICRA has reaffirmed the LBBB+ rating to the Rs 1,560 million fund based term loan and the Rs 186.3 million cash credit limits of The Andhra Petrochemicals (APL); the outlook on the rating is Stable.

Andhra Petrochemicals today announced that modernisation-cum-optimisation of the Oxo alcohol plant has been implemented with an investment of around Rs 2.75 billion and the expanded plant with a capacity of 73,000 MT per annum has commenced commercial production from May.1, 2010.

Andhra Petrochemicals, engaged in the manufacture and sale of oxo-alcohols today announced that it has been implementing modernization - cum - optimization of its Oxo-Alcohols Plant, thereby enhancing the production capacity from the present 39,000 MTPA to 73,000 MTPA.

In Brief

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