Alcobex Metals, Ltd. Ceased Activities According to BAC Report
17 Oct 2011 • by Natalie Aster
LONDON – Alcobex financial performance was bad even before the crisis of 2008. The company was not generating net profits due to incorrect lending policy. In the end of 2009 the Board of Industrial & Financial Reconstruction of the Sick Industrial Companies declare Alcobex sick and forced it to stop production. In FY 2008-2009 company’s production volumes comprised 1555 M.T. In 2009-2010 this number collapsed and amounted 410.62 M.T. Export revenues decreased by 88.9%, and domestic sales became dominant (60% / 40% relation in 2008-2009 against 28.8% / 71.2% relation in 2009-2010).
Company’s shares stopped trading at BSE in mid-2010, as Alcobex was suspended due to penal reasons and started a bankruptcy process.
September 2010 was the last Alcobex’ reporting period, after which the company ceased commercial activity.
For the last four years Alcobex revenue fell down by 90.8% from INR 1515.5 M to INR 139.7 M. Net income was negative in Mar 31 2007 (INR (75.1) M), but by Mar 31 2010 it was INR (735.2) M.
Founded in 1964 and headquartered in Jodhpur (India), Alcobex Metals, Ltd. is a producer and distributor of Cold drawn & Hot extruded Seamless Pipes, Tubes, Bars, solid sections, Wires & profiles of Copper & Copper based alloys. It has a widespread global distribution network and numerous agreements with partner companies.
Further review on the company’s business, product line, applications, financials and more can be found in the report “Alcobex Metals, Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Alcobex Metals, Ltd. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Sep, 2011
India Metals and Mining Industry and its competitive market environment review can be found in the report “India Metals and Mining Industry Comparative Analysis and Companies Ranking”
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.
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