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ASAP Fuilds: Surviving in a touch market
Nov 16: In a tough market, ASAP Fluids Ltd, a local drilling fluids and on-site engineering services company for the oil and gas industry, seems to be keeping its chin up.
8This company was spun off from the parent company, GDFPL, a proprietorship concern promoted by Anand Gupta.
8GDFPL primarily manufactures drilling fluid (also referred to as drilling mud) additives used to facilitate the process of drilling oil and/or natural gas from hydrocarbon reserves, both onshore and offshore.
8In February 2010, GDFPL had spun off its services division to form a subsidiary, AFPL, which supplies drilling fluids and onsite engineering services to customers involved in the exploration & production (E&P) for oil and natural gas.
8In FY2015, the company had commissioned a subsidiary in Dubai, viz. Gumpro Drilling Fluids, FZE, for manufacturing powder-based additives.
8The going is touch and margins are under squeeze and the bet is that the company will survive the current downturn
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