From Our Special Correspondent
Daijiworld Media Network - Bangalore
Bangalore, Apr 20: State-owned Karnataka Soaps and Detergents Limited (KSDL) with a turnover of Rs 262.56 crore for the year 2011-12 has earned a net profit of Rs 11.01 crore after tax.
The gross profit of the State public sector undertaking has been put at Rs 16.03 crore as against Rs 9.27 crore last year.
Announcing the financial results for the year 2011-12, KSDL Chairman Shivananda Naik complimented the employees for their performance and helping in increasing the company’s profits.
He said that the company, which received the Chief Minister`s Ratna Award in 2010, achieved a growth of 28 per cent and 31 per cent in sales and collections respectively.
The former minister said the Super Premium M S Millennium Soap priced at Rs 720 a piece had been well received by customers in Karnataka and Tamil Nadu.
Encouraged by this, the soap would be launched in Hyderabad, Mumbai, New Delhi and Kolkata shortly.
Asked whether the price was not high and whether the poor could afford to buy it, he said the company could not cope with the demand for the brand.
The company was producing a total of 38 products such as Mysore Sandal Dhoop, Kleenol, a liquid cleaner and Mysore Sandal Coconut oil.
It plans to launch Mysore Sandal Liquid Body wash, Mysore Magic bouquet and Mysore Magic fresh, which are new sandal perfume sprays.
Started by Nalvadi Krishnaraja Wodeyar and Sir M Visvesvaraya 96 years ago, the company had wiped out the Rs 90 crore accumulated losses over the last 10 years.
In a bid to cater to the needs of liquid soap abroad, he said KSDL would step up production and come up with some super gift items also in the near future.
KSDL Managing Director S Shekar said the Company was tying up with the farmers to grow sandalwood with bank assistance.
Under a buy-back scheme, the KSDL would supply saplings to farmers at market rates. The company was planning to grow sandalwood in a 20 acre forest area near Mysore.
He said there were no plans to shiff the factory to Dobbespet unit near Tumkur.