NEPA turnover up 53%

Nepa has recorded a 43 percent jump in production and 53 percent growth in turnover compared to previous year, according to the provisional financial results of 2005-06. The company has brought down the operational losses from Rs.21.88 crore to Rs.13.23 crore. HTC.
Nepa recovers
NEPA Ltd, a languishing public sector paper firm since December’2001, has been put on a recovery path through internal resources.
A company statement said the provisional financial results for 2005-2006 had recovered a 43 percent jump in production compared to previous year. In terms of turnover, a jump of 53 percent achieved which resulted bringing down the operational losses from Rs.21.88 crore to Rs.13.23 crore. The company is slowly heading northwards. it added.
PRESS NOTE

NEPA ON RECOVERY PATH
NEPA LIMITED languishing since December 2001 in absence of a full time Chairman-cum-Managing Director, ultimately finds solace in Brigadier SK Mutreja who took over as CMD in October 2005 to lead the Company on a recovery path. Provisional Financial Results for 2005-06 record 43% increase in production of newsprint which is 30955 MT against 21680 MT in previous year. Quantity of Sale of Newsprint also registered 39% increase as the quantity of 21818 MT in previous year shot up to 30370 MT in Current Year. In terms of value of Sale of Rs. 58.85 crore in Current Year, the increase is 53% over Rs. 38.47 crore achieved in previous year. Excluding heavy burden of Interest on Loans taken from Government of India, the operating loss of Rs. 21.88 crores in 2004-05 is also brought down to Rs. 13.23 crore in 2005-06.
The Company has been provided Rs. 5.46 crore for taking up urgent repairs/replacements of old and worn out equipments which are almost half century old. After completion of such jobs, the company aspires to further improve upon its performance and come out of red in coming years.
NEPA SURGES AHEAD
Nepa Limited, a premier Newsprint Manufacturer, having a low production level between 20000 MT to 22000 MT for past three years, has taken a quantum jump in the field of production and sales during the current financial year. The Company’s provisional results for 2005-06 record 43% increase in production of newsprint which is 30955 MT as against 21680 MT in previous year. Similarly sale of 21818 MT of newsprint in previous year increased to 30370 MT showing 39% improvement. The value of sale at Rs. 58.85 crores in current year is 53% over the corresponding figure of Rs. 38.47 crores in previous year.
The company has taken up various innovative measures for improvement in coming financial year 2006-07 under dynamic leadership of Brigadier SK Mutreja. Identification of Vital Components/Spare parts which are completely worn out is being taken up for replacement in phases to improve the performance of the Plant.
As Cost Cutting measure, for the first time in history of Newsprint Industry, transportation of old newspapers, basic raw material, has been done by Rail Wagons in the third week of March 2006. The Company expects repetition of such action for maintaining continuous flow of raw material for sustained and regular production.
The Company has chalked out several schemes for overall improvement of Plant, training of its manpower and automation of ill systems which will be implemented in phases. The working Results for 2006-07 are expected to surpass all previous records of achievements.