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PNN
Mumbai (Maharashtra) [India], January 26: Bonlon Industries Limited, a company listed on the Bombay Stock Exchange (BSE) and known for manufacturing copper wire, is now undertaking a project for the production of aluminium rods and ingots. The company is setting up its new, modern aluminium plant in MIDC Taloja, Maharashtra. The plant is expected to commence operations with an annual production capacity of 75 thousand tons. The plant will produce rods, wires, and ingots from aluminium scrap, catering to the growing demand in various sectors. Plans to Start Construction Soon According to a senior official of the company, the site for the new aluminium plant has been finalized in Taloja, and construction work will commence soon. The plan is to start production at the new plant from the financial year 2024-25. The new plant is expected to contribute an annual revenue of 200 to 250 crores to the company, with a profit margin of 4 to 5 per cent. Bonlon Industries, promoted by the Arun Kumar Jain family, is a 25-year-old company primarily engaged in the manufacture of copper wire and rods. The promoter group holds a 64 per cent stake in Bonlon. Business Quadrupled Bonlon Industries, a part of the Bonlon Group, is involved not only in the production of copper wire but also in the trading of ferrous and non-ferrous metals, hotel business, and civil construction. Due to the increasing demand for copper wire and rods in various industries, the company's business has quadrupled from 135 crores to approximately 511 crores in the last three years. However, fluctuating copper prices and higher trading income have impacted profit margins. To enhance profitability, the company is now focusing on manufacturing. The company aims to achieve a business turnover of 680 crores and a net profit of 10 crores in the upcoming financial year. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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