THIRUVANANTHAPURAM: Despite the adverse market conditions and the controversy related to the mineral sand mining, Kerala Minerals and Metals Ltd (KMML) has registered a turnover of around Rs 830 crore in fiscal 2018-19, registering a net profit of Rs 163 crore. The KMML has done a record business of around 3,500-tonne titanium dioxide in the domestic and international markets, which is the highest business volume of KMML so far.
The company has set a record in the production of titanium sponge in the last fiscal with a record production of 240-tonne titanium sponge, which is used for strategic purposes in Indian Navy and ISRO/VSSC. The work on the new 70 Titanium Sponge Plant (TSP) is underway and is expected to be completed by September.
With the commissioning of the new plant, which would help the company to achieve self-sufficiency in the consumption of oxygen, it will be able to reduce the production cost significantly. The company has also set a business turnover target of Rs 935 crore for the financial year 2019-20.