Mumbai (Maharashtra) [India], January 27: 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 aluminum rods and ingots. The company is setting up its new, modern aluminum 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 aluminum 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 aluminum 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 percent. 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 percent 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.
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
