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Last Updated : Jun 28, 2017 12:45 PM IST | Source: CNBC-TV18

Confidence Petroleum's subsidiary commissions new unit to manufacture LPG cylinders

Confidence Petroleum's subsidiary commissioned new unit to manufacture liquefied petroleum gas (LPG) cylinders. The company manufactures LPG and auto LPG cylinders as well as markets commercial LPG. In an interview to CNBC-TV18, Nitin Khara, MD of the company spoke about latest happenings in the company as well as sector.

Confidence Petroleum's subsidiary commissioned new unit to manufacture liquefied petroleum gas (LPG) cylinders. The company manufactures LPG and auto LPG cylinders as well as markets commercial LPG.

In an interview to CNBC-TV18, Nitin Khara, MD of the company spoke about latest happenings in the company as well as sector.

The company has developed two subsidiaries recently.

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Altogether the current capacity is 48 lakh cylinders per annum, he added.

“We are expecting 100 percent utilisation of new unit,” he said.

From LPG business, he expects topline of Rs 550-600 crore.

Khara also expect to maintain margins at around 8.5 percent.

Confidence Petroleum provides bottling service to all oil majors like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL).

For full interview, watch video...

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First Published on Jun 28, 2017 12:14 pm

tags #Business

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