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| Wednesday, March 10, 2010 You are on : Home >> News >> TechNova News |
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Price-Revision : Effective April 1, 2005 Dear Valued Friend & Customer, We would like to apprise you of some important developments in the recent past that have impacted our PS Plates business. These are : Spiralling Aluminium Prices : Since our last Plates price-increase in July 2004, an unexpected increase of Rs. 5.00 per kg. of Aluminium was effected by HINDALCO from November 1, 2004. The background of this price-increase was communicated in Mr. Pranav Parikh's letter to you dated December 28, 2004 (www.technovaworld.com/asp/psplaterevise1.asp). Despite the fact that this substantial cost-increase had a major impact on our bottom line, we decided to absorb the same and maintain our prices, keeping in line with our commitment of NIL price-increase till March 2005. As indicated in that letter, "... we will hold our prices firm until March-end, 2005, at which time we will revise the prices", we are now left with no option but to revise our prices for PS Plates w.e.f. April 1, 2005. This price-revision is caused entirely by, and is exactly equal to the cost-increase of Rs. 5.00 per kg., passed on to us by HINDALCO in November 2004. Price-increase data for TechNova PS Plates (in Rs./m2) :
Aluminium prices at LME continue to rule at very high levels and have recently crossed USD 2000/Ton, which is a 10-year high. Please see the charts below, depicting the monthly average of LME & NALCO price trends since December 2002. At the time of writing this letter, NALCO has further increased the prices of Aluminium by Rs. 3.35 per kg. This increase has not been factored in our current revised prices and will be passed on in the next quarter. 
The unprecedented price-increase of Aluminium in the last year and the continued buoyancy in 2005 has had significant and frequent impacts on our cost structure. Further, HINDALCO, as per their new pricing policy, has communicated that instead of continuing with an annual fixed-price contract with us, they will now be revising their prices every quarter, in line with global metal and NALCO prices. This new arrangement of quarterly price-revision mechanism leaves us with no choice but to make a similar change in our pricing policy. Hence, at the beginning of each quarter, we will be compelled to increase or decrease our prices in accordance with the variations in LME/NALCO prices. Keeping in line with our self-imposed guidelines for price-increase, we have always endeavoured to insulate our valued customers from these frequent price-increase shocks by as much and for as long as possible. In this price-revision too, like in the past, we have absorbed all increases in overheads costs. Depicted in the chart below is the comparison of price changes of Aluminium by NALCO with the relative changes of TechNova's average plate prices of all brands put together.  Value Added Tax (VAT) : The recently introduced Value Added Tax (VAT) is going to have a positive impact on the end-user prices of PS Plates. The provisions of VAT enable all printers' viz., packaging printers, job work printers etc. to claim set-off on input tax, which was not available earlier. Hence, the net cost of plates (after availing set-off), in most of the states which have implemented VAT, will be lower than the cost of plates in the pre-VAT scenario. PS Plates Brand Rationalisation : During our interactions with customers and the channel, it has been brought to our collective attention, the need for having lesser number of brands of PS Plates. Having examined the needs of all the customer segments and various options at the supply end, we have now rationalised our PS Plates portfolio, without compromising the end customer needs. We are sure you will enjoy the benefits of greater usage value and simpler ordering procedure as a direct consequence of this brand rationalisation initiative. Should you feel the need, please contact the nearest TechNova office or Dealer and we will be glad to have a TechNova representative visit you to discuss the genesis of this brand rationalisation and help you to choose the right plate for your printing needs. Further, we are glad to inform you that an additional 37, in-demand sizes, have been included in the Standard Sizes list. As a result of this, those of you who were incurring higher costs for non-standard sizes will realise greater savings now. Cost-saving Solutions : As you will observe from the price-list, a very attractive cash discount of 5% is offered for purchase of plates from TechNova Dealers against cash payment. This discount is significantly higher than the interest cost on the additional working capital that you may require to switch from credit to cash purchase. Taurus (0.28 mm) users will continue to receive Rs. 5.20 / m2 (basic) worth of specified value-added chemicals. Contact Information : We hope that we have been able to provide you with all the information that you need to understand the rationale of this price-increase. Should you require any further clarification or wish to share your comments and concerns, please contact :
I am sure you will appreciate that we had no choice but to effect this price-revision and that, as always, we will receive your whole-hearted support to implement this inevitable business decision. Thank you! With best regards, C. G. Ramakrishnan Business Unit Leader, Plates & Chemicals Price finder for PS Positive Plates of 0.28 mm (Rs./Plate) Please Select the Brand and Size to View Price. (*) indicates non-standard sizes. An additional 3.5% on the per m2 price will be charged extra for these sizes.A cash discount of 5% is applicable for cash purchases on the above prices. Specified value-added chemicals worth Rs. 5.20 (basic price) will be given free with every m2 of Taurus. This special offer is only on 0.28 mm Taurus. Price revision is applicable w.e.f. April 1, 2005 and is valid upto June 30, 2005. VAT will be charged extra as applicable in respective states. Terms and Conditions Prices : TechNova's Customer prices / m2 of PS plates, effective April 1, 2005, for purchase from your local TechNova Authorised Dealer are as follows :
* Argos is a Negative working PS Plate All other prevailing terms & conditions will be applicable For non-standard sizes that are not included in the detailed price list, the per m2 price will be 3.5% higher than the prices mentioned therein. All sizes in Taurus (0.20mm), Condor & Argos are considered standard sizes and hence no extra charge will be levied. For bulk volume orders in non-standard sizes, TechNova would be pleased to negotiate special prices. The Customer prices given in the Price List are inclusive of the following :
Packaging and Order Quantity :
Delivery : Standard sizes as mentioned in the 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 : 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. 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. General : All disputes arising from any dealings between the Customers and ourselves 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 happening 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. Contact Details
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