STCL, formerly Spices Trading Corporation, has reported 67 per cent rise in net profit and nine per cent growth in revenues for 2005-06. The company reported net profit of Rs 5.98 crore on turnover of Rs 470.78 crore, compared to net of Rs 3.58 crore on revenues of Rs 431.96 crore in the previous year.
STCL plans to set up chilli and pepper processing plants at Byadagi in Haveri district and Siddapur in Kodagu district of Karnataka respectively at a total investment of Rs 7-8 crore. The two plants would become operational during the current financial year.
The Flavourit Brand of organic spices, promoted by the Spices Board and being marketed by STCL, has evoked good response especially in the US market.
In a bid to protect farmers interest, STCL played an active role in selling fertilisers to tobacco growers and supplying quality agro-chemicals and other inputs for plantations in Karnataka. The company had been conducting cardamom auctions regularly, ensuring good price for growers. The company also supplied seedlings and agricultural implements to tribals in the South. With a view to helping small coffee growers avoid distress sale, it offered finance at a concessional interest rate against depositing of their stocks.
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| Posted : 7/15/2006 |
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