I quote from AR page 8 – Results of operations and the state of company affairs
The rise in the profits is due to huge demand for bauxite in the overseas market for the trading division and improved efficiency of the manufacturing vertical. Moreover in addition the chemical division also performed substantially better vis-à-vis compared to previous year 2013-14. The fall in the crude prices didn’t deter the profitability of your Company.
On page 11 – Outlook AR mentions
The global metal industry, to which your Company’s Trading Division caters to, has been experiencing a reasonable growth rates over the last few quarters in terms of capacity addition wherein the existing demand there from is expected to be fairly resilient.
I have not dug deeper but this looks counter intuitive on the face of it. Global metal industry in not at all in good shape. Look at the stock prices of some of the biggest Aluminum producers in the world
Charts from – finance.yahoo.com
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