Haldia Petrochemicals Ltd could see it largest fiscal loss in FY 2011-12

26-Mar-12

Besides facing its largest ever loss in FY 2011-12, Haldia Petrochemicals is also facing substantial erosion of the networth of the company. recurring shutdowns, depressed margins and a weak market had taken a toll on the financial performance of the company. As a result, at the end of March, 2010, the company's networth stood at Rs 2,097 crore. However, as per a company official, HPL Board may or may not report to Board for Industrial and Financial Reconstruction (BIFR) for erosion of networth. A decision will be taken at the meeting scheduled for March 27.