Remanufacturing market remains challenging as toner imports from China and Malaysia eat into Indian Toners margins.
Sales at Indian Toners & Developers (ITDL) rose 4.85 percent to Rs 28.78 crore ($4.13 million/ €3.7 million) while net profits declined 33.19 percent to Rs 4.67 crore ($670,000/ €600,000) in the quarter ended March 2019 as against Rs 6.99 crore ($1 million/ €896,000 ) during the previous quarter ended March 2018
For the full year, sales rose 4.06 percent to Rs 113.32 crore ($16.3 million/ €14.6 million) in the year ended March 2019 as against Rs 108.90 crore ($15.6 million/ €13.96 million) during the previous year ended March 2018. While net profits declined 15.69 percent to Rs 20.42 crore ($2.9 million / €2.6 million) in the year ended March 2019 as against Rs 24.22 crore ($3.4 million/ €3.04 million).
ITDL is the largest player in the Indian domestic printer and copier toner market and has a network of over 120 distributors and 600 dealers across India and exports toners to over 20 countries with wholly owned subsidiaries in Singapore and the United States.
The Indian domestic market in under intense price competition from cheaper imports from China, and Malaysia. Sales of toner are also sensitive to import price parity and foreign exchange movements as well as the volatility in raw material prices and ongoing competition.
In approving the accounts, the board also announced the closure of their wholly owned Singapore subsidiary ITDL Company (S) PTE Ltd.
In 2017 ITDL added a fourth production line at their factory located in Sitargunj in Uttarakhand, North India taking their total capacity to 3600 tons per year. The Recycler understands that another production line is in the advanced planning stage to take their annual manufacturing capacity to 4,200 tonnes. This would be in line with their stated investment strategy of aligning investment with capacity, and to maximise output, so as each production line comes on line, its output is already in demand.
