MUMBAI: Despite the volatility in economic scenario and fluctuations in exchange rates, speciality chemicals company Lanxess India said it has registered sales growth of Rs 1,672 crore in 2012 compared to Rs 1,464.2 crore in 2011.

Lanxess India is a part of the global speciality chemicals company, headquartered in Germany.

Lanxess in India was consistent in its performance in 2012 compared to 2011, achieving sales of about Rs 1,672 crore (EUR 238.9 million) in this fiscal, a company statement said here.

Over the last two years, the Indian operations have shown consistent growth with the company's sales grew from Rs 1,090 crore in 2010 to Rs 1,464 crore in 2011, registering a growth of around 32.2 per cent.

"Despite the volatility in economic scenario and fluctuations in exchange rates, Lanxess has shown positive growth in terms of sales in the Indian sub-continent.

"This also implies that we are optimistic about the Indian market in the long term and consider these uncertainties only a blip in the potential growth," Lanxess India Managing Director and Country Representative Joerg Strassburger said.

"We have benefited from the increase in domestic demand in certain segments like paints and coatings, pharmaceuticals and agrochemicals and done well in businesses that are driven by these segments. The business unit segment advanced intermediates has shown a significant growth of 11 per cent this year majorly coming from our manufacturing facility at Nagda," Lanxess India Chief Financial Officer Venkatesh Sankaran said.

 

Source : economictimes.indiatimes.com