Kesoram Industries of the B. K. Biral group, is confident of beating the economy blues with a healthy growth in its bottomline.
The company, which launched its revamped brand here on Thursday, said the continuing slowdown posed challenges, but the company anticipated growth in its bottomline.
Launching the revamped brand, CEO Arvind Singh said there would now be a master brand Kesoram with a bold icon presenting the company’s ambition to make a mark in its fields of business. The exercise had been done by Grey Group Singapore.
The company is now being actively managed by Manjushree Khaitan, who is the Executive Vice-Chairperson.
During the first half of this fiscal, Kesoram saw a sharp rise in the profit of its tyre business, even as the rayon business turned the corner and cement remained profitable although at a lower level.
While tyres account for 70 per cent of the business, cement has a 25 per cent share with the balance belonging to rayon.
The company closed the first half of fiscal 2014 with lower sales of Rs.2,506 crore against Rs.2,936 crore a year ago, but with an improved EBITA ratio. The first half saw a turnaround in the operating margins of tyres, which turned positive from a negative zone in the first half of 2012-13. The rayon business also turned the corner with operating profits.
Company officials said two wheeler sales had increased by 25 per cent even as supplies of two wheeler tyres and commercial vehicle tyres saw increased volumes.
Softened prices of natural rubber also eased pressure on margins, the company said.
