Page 46 - Plastics News June 2018

Business news

HPCL registers profit of Rs 6,357 cr for 2017-18

industan Petroleum Corporation Ltd (HPCL), ranked share gain of 0.02% in total LPG Sales and continued the
H384 in Fortune Global 500 list and 48 in the list of Platts market leadership in Non-Domestic bulk LPG sales with
Top 250 Global Energy Companies in the year 2017, has over 48% market share. In I&C business, HPCL surpassed 5
registered outstanding physical and financial performance MMT sales volume mark for the second consecutive year.
during the financial year 2017-18. The Corporation HPCL reported Consolidated Profit after tax of Rs 7,218
achieved the crores during the financial year 2017-18 as against Rs
highest ever 8,236 crores during previous financial year 2016-17. The
profit of Rs Consolidated Profit is lower due to shutdown taken by
6,357 crores one of the Joint Ventures- HMEL to hook up its expansion
on standalone project to increase its installed capacity from 9MMTPA to
basis during 11.25 MMTPA. Further Share of profit from MRPL for FY
the financial 2017-18 was Rs 338 crores as against Rs 589 crores during
year 2017- FY 2016-17.
18, as against
profit of Rs 6209 crores during financial year 2016-17.
Gross Sales during the financial year has increased to Rs DuPont to invest $400m in Tyvek
2,43,227 crores as against Rs 2,13,489 crores during the capacity expansion in Luxembourg
previous financial year. Despite lower Inventory gains in
the current financial year 2017-18, the growth in Profit ising demand for DuPont’s Tyvek nonwoven materials
is mainly due to increased refining throughput, higher Rhas prompted DuPont Safety and Construction, a
domestic market sales, better operating efficiencies & business unit of Dow DuPont Inc., to invest more than
improved cracks. During FY 2017-18, HPCL refineries at $400 million to expand capacity for the materials at its
Mumbai and Visakh have maximized crude processing and facility in Luxembourg. The expansion will include the
recorded the highest ever combined refining throughput addition of a new building and third operating line at the
of 18.28 MMT with capacity utilization of 116%, compared site. The new capacity will come on stream in 2021, said
to throughput of 17.81 million tonnes achieved during the company. Global demand for DuPont Tyvek has been
2016-17. Both the refineries individually recorded their climbing steadily across all key end-use markets, Rose
best ever crude throughput performance during the year. Lee, president
– DuPont Safety
The refineries recorded combined distillate yield of 75.9%
with highest ever production of Motor Spirit (3.3 MMT), & Construction
High Speed Diesel (7.3 MMT) & Lube Oil Base Stock (439 noted.
TMT). Excellent physical performance enabled HPCL A cco r ding
achieve Combined Gross Refining Margin of USD 7.40 to industry
per barrel during 2017-18 as compared to USD 6.20 per est imat es,
barrel during 2016-17.During financial year 2017-18, HPCL t h e globa l
achieved the highest ever sales volume of 36.87 million segments for potential Tyvek use total several billion
tonnes, including exports of 0.68 million tonnes, with a dollars.Tyvek, a flash-spun nonwoven material made
growth of 4.7% over historical. The sales of Motor Spirit from high density polyethylene, celebrated its 50th
(Petrol) increased by 8.5%, High Speed Diesel by 4.5%, LPG anniversary in 2017. The breathable material is
by 8.5%, Aviation turbine fuel by 5.4%, and Lubes by 1.6%, lightweight and durable and resists waterand abrasion.
compared to FY 2016-17. During 2017-18, HPCL continued It has found use across diverse industries, including
to be India’s largest lube marketer for the fifth consecutive construction, where it is commonly used for building
year in highly competitive lubricant business with a total envelope solutions. Tyvek is also widely used to
market share of 44.5% in the PSU category. The Company manufacture protective garments, providing effective
registered a Market share gain of 0.10% in Motor Spirit protection during health care crises such as the recent
(Petrol) sales. In LPG segment, HPCL recorded a market Ebola outbreak in West Africa; as well as in medical and
protective packaging

Plastics News June 2018 46