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Revival in real estate could come as a boon for float glass industry

Post Time:Feb 11,2010Classify:Industry NewsView:154

When major sectors in the economy do well, it augurs well for several ancillary industries that depend on them. A case in point is the Rs 5,500-crore Indian glass industry, which has shown good growth in the past few quarters driven by an uptick in demand from user-industries such as infrastructure, construction, automobiles, food processing, beverages, pharmaceuticals and cosmetics, among others. The past four quarters have seen a steady growth in the fortunes of glass companies —with some of them swinging to profit. For the industry, FY09 was not particularly favorable. During the first half, when demand was relatively buoyant, companies faced soaring prices of key inputs. And during the second half, when commodity prices stabilized, demand stagnated due to the economic slowdown. In FY2010, with economy coming back on track and input costs remaining benign, the industry is again witnessing a revival as reflected by the improving financials, according to a Feb. 11 article in The Economic Times.

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