Octant bags export orders worth Rs3 cr/news06012012

The Company has received domestic order of Rs1 crore & export order of Rs2 crore for castor oil derivatives business recently. The future of castor business will be bright in this year and as well as FY 2012-13 since the area under castor cultivation in 2011-12 has increased to 8.11 lakh hectares from 5.19 lakh hectares which is up over 50% from the previous year.

Considering the substantial increase in acreage, castor production in Gujarat and Andhra Pradesh may well be in the range of 1-1.1 million tone in 2011-12.The Company is expecting more business during the FY 2011-12 & 2012-13.This will help the Company to procure the raw materials at cheaper rate by booking more margins in export sales.

As earlier discussed in Annual Report the software business is no longer viable proposition and the present management (New) are planning to dispose the software assets This will strengthen the Company by reducing the depreciation Expenses in the Profit & Loss Account. In turn EPS also will be increased as our Companies activities are diversified in manufacturing sectors of Castor Oil Derivatives and Power Sectors.
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