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| Friday, September 03, 2010 You are on : Home >> News >> TechNova News |
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Price Revision : January 16, 2010 Consequences of the Recovering Economy in the New Year! First of all, on behalf of everybody at TechNova, we would like to wish you and your loved ones a Very Happy New Year, and hope that you have a safe and prosperous 2010 ! The economy continues to recover in the New Year, which has been a mixed blessing for us. As the condition of the markets & overall business improves, there has been a steady rise once again in the price of aluminium on the LME during the Oct - Dec ’09 quarter, trading at an average rate of US$ 2001 / ton. This is US$ 195 / ton higher than the average price in Jul - Sep ’09, when aluminium was trading at US$ 1806 / ton on the LME. The graph given below depicts the trend of aluminium prices on the LME. The saving grace, during the same period, has been that the Rupee has fared slightly better against the US$, as compared to the previous quarter. From an average level of Rs. 48.42 against the US$ in the Jul - Sept ’09 quarter, the Rupee has appreciated marginally and is averaging at Rs. 46.64 against the US$ in the Oct - Dec ’09 quarter.  As we have explained in our previous Price Revision Communications, our pricing structure is directly linked to two major factors : the price of Aluminium on the LME and the exchange rate of the US$ against the Indian Rupee. In addition to these, our pricing policy is also directly influenced by other factors such as the Customs Duty & Clearing Costs; the ingot-to-coil conversion charges; other raw material and Direct Input costs, as well as statutory levies and duties. The combined effect of the two factors, i.e. the average LME price of Aluminium and the INR/US$ Exchange Rate, has resulted in an increase of Rs. 6.28 / kg, in the cost of aluminium ingots. This translates to an increase in ex-factory prices of PS Plates by Rs. 5.65 / sq. mtr., based on the formula of 0.9 kg consumption for every 1 sq. mtr. of PS plates. As requested by the President of the AIFMP, Mr. P Chander, TechNova had NOT passed on the full cost increase of Rs. 14.30 / sq. mtr. in the earlier quarter i.e. Oct-Dec ’09. It was mutually agreed that TechNova would pass on only Rs. 10 / sq. mtr. in the Oct-Dec ’09 quarter and the balance of Rs. 4.30 / sq. mtr. would be passed on in the Price Revision, effective January 16, 2010. In addition to this, the increase in TechNova’s other Direct Input costs NOT passed on since Oct ’08, is also to be factored in the current Price Revision. Over the last one year these costs have gone up by Rs. 3 / sq. mtr. Moreover, in the last quarter, Hindalco has increased the conversion charges of ingot-to-coil by Rs. 5.40 / sq. mtr. which has directly affected our cost of aluminium. Factoring in all of the above, the overall effective increase in our basic prices works out to Rs. 18.35 / sq. mtr. During our last meeting with the AIFMP Audit Committee, we were impressed upon that industry would be unable to absorb such a substantial increase, specially when it is just reviving after the economic Tsunami. Hence, once again, we have been requested not to pass on the full cost increase in this price revision. Honouring this request and feedback from our valued customers, TechNova has decided to pass on an increase of only Rs. 7 / sq.mtr. in the basic price of PS plates for the current quarter. This translates to an increase of Rs. 9.51 / sq. mtr. in the end-user prices of TechNova’s PS plates which will be reflected in our Price Revision w.e.f January 16, 2010. The balance unrecovered cost increase of Rs. 11.35 / sq.mtr. will be factored in the next Price Revision w.e.f April 16, 2010. For detailed size-wise, brand-wise pricing, please refer to tables 01 & 02, starting from page no. 3 of this booklet. Cost Saving Solutions As before, you will continue to receive attractive cash discounts on the prices mentioned in the Price-List from your dealer, on making cash payments for your purchases. These discounts would be significantly higher than the interest cost on the additional working capital that you may require to switch over from credit to cash purchases. In Conclusion As you would observe and appreciate, that despite significant impact on our bottom line, for the second quarter in running, TechNova has NOT passed on the full cost increase for 2 consecutive quarters, keeping in mind the concerns and overall well-being of the industry. We sincerely pray that the price of Aluminium on the LME stabilizes soon. We remain committed to providing you with world-class products, backed by unmatched service. Once again, we thank you for your understanding, and seek your support in the future. With best regards, C. G. Ramakrishnan Executive Director & Chief Operating Officer If you have any suggestions to offer or should you require any further clarifications or information about our products & services, please contact :
PS Positive Plates of 0.28 mm (Rs./Plates) (w.e.f. Jan 16, 2010) Table 01
Note : 1. NA indicates that these sizes are Not Available in that brand. 2. (**) indicates Lastra Niraj brand. 3. FMS sizes will be reviewed on a quarterly basis. Table 02 Price list of Moderate Moving Sizes (MMS) for PS Positive Plates of 0.28 mm (Rs. / Plate) (w.e.f. Jan 16, 2010) Please Select the Brand and Size to View Price. Note :1. (*) indicates Non-standard / Slow Moving Sizes (SMS) in the corresponding brand, and the per m2 price will be 3.5% higher than the MMS prices. 2. Moderate Moving Sizes (MMS), the per m2 price will be 3% higher than the Fast Moving Sizes (FMS) prices. 3. NA indicates that these sizes are Not Available in that Product. 4. (**) indicates Lastra Niraj brand. 5. Prices do not include local sales tax / VAT, and other local levies like Octroi & municipal taxes. Price increase Data for PS Plates (in Rs. / m2) Table 03
Customers’ prices / m2 of PS plates are as follows Table 04
Note : Moderate Moving Sizes (MMS) will be 3% higher than the Fast Moving Sizes (FMS) The above prices will be applicable for billing from TechNova factories w.e.f. January 16, 2010. All other prevailing terms & conditions will be applicable. Terms and Conditions All sizes in Taurus (0.20 mm), Condor Plus & Argos are considered standard sizes and hence no extra charge will be levied. All plates sizes in 0.28 mm, other than the ones mentioned in Table 01 & 02, are Non-standard / Slow Moving Sizes (SMS), and the per m2 price will be 3.5% higher than the MMS prices. For bulk volume orders in Slow Moving Sizes (SMS), TechNova would be pleased to negotiate special prices. The Customer prices given in the price list are inclusive of the following :
Details of Quantity of PS Plates / Pack (according to plate length) Table 05
Delivery : Standard sizes as mentioned in the detailed price list should be available off-the-shelf from your local TechNova dealers. For other sizes, a minimum delivery period of 3 to 4 weeks would be required. Size and Thickness Tolerance :
Rejection Procedure & Claims : Claims in respect of damage or shortage should be informed to your TechNova dealer within seven days of receipt of goods by you from the dealer. TechNova applies strictest quality control at every stage of production and packaging to guarantee that our products are free of manufacturing defects. Products which are found defective, as verified by our Technical Sales Executives, would be replaced free of charge. However, our liability is restricted only to the extent of replacement of the products found to contain inherent manufacturing defects, provided the defective products are returned to us in physically undamaged and unused condition. We do not accept any liability or claim arising out of usage of such plates. General : All disputes arising from any dealings between the Customers and TechNova are subject to the jurisdiction of Mumbai High Court. Force Majeure : We shall not be liable for any penalty or liquidated damages for delay in supply arising out of force majeure of causes beyond our control including, but not limited to, inadequate raw material availability, compliance of regulations, order or injunctions of any Federal, State or Municipal Government or Agency thereof, acts of God or of Public Enemy or Government, acts of omissions of the purchaser, acts of Civil or Military authority, fires, floods, epidemics, quarantine, restrictions, strikes, and/or lock-outs, civil commotion, pestilence, factory shutdowns or alterations, embargos, war declared or undeclared, riots or accidents either in contractor’s or sub-contractor’s work, delays in transportation or inability due to any reason beyond our reasonable control. This will also apply for delays as a consequence of hostilities whether direct or indirect and / or happenings which have direct or indirect repercussions on the said job. For such impediments occurring before or after the scheduled time of dispatch or completion, reasonable extension of time shall be granted to us. Corporate Profile About us TechNova is one of the world’s largest manufacturers of analog & digital imaging products. Total imaging solution offerings from TechNova include thermal, violet & inkjet CtP systems; and a full range of consumables, such as offset printing plates; laser, inkjet & graphic art films; chemicals; offset inks; offset blankets; flexo plates & related products; inkjet, laser and drafting media for various industries. Product Portfolio Highlights
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