Thursday, May 26, 2011


5% DIVIDEND BY IFGL REFRACTORIES

The Board of Directors of IFGL Refractories Ltd (the Company ) in their meeting held on Wednesday, 25th May, 2011 have approved audited financial results, both on stand-alone and consolidated basis, for the year ended on 31st March, 2011.
Key financial figures are given below: (Rs in millions)
For nine months ended on
31.12.2010
For three months ended on 31.03.2011
For twelve months ended on 31.03.2011
For twelve months ended on 31.03.2010
Consolidated
Total Income
3313
1414
4727
4181
PBT
175
152
327
497
PAT
127
116
243
343
Stand-alone
Total Income
1487
595
2082
1753
PBT
61
49
110
224
PAT
41
33
74
147
Earning per share on consolidated basis is Rs 6.63 compared to Rs 9.91 for previous year ended on 31st March, 2010.
Profit before Tax and Profit after Tax are lower than those of previous year because of affect of extra-ordinary macro economic factors faced by the Company, which have largely tapered in fourth quarter ended on 31st March, 2011 and thus substantially improved performance for said quarter. In view thereof and that said trend is likely to continue, the Board recommended payment of Dividend at the rate of 5% i.e. Rs. 0.50 per Equity Share of Rs. 10/- for financial year 2010 - 2011 following Company’s Dividend Distribution Policy.
The Board of Directors have also appointed Mr Debal Banerji, a Senior Advocate practising in the Hon’ble Supreme Court of India, as an Additional Director with immediate effect.
About IFGL Refractories:
IFGL Refractories is a leading manufacturer of specialized Refractories having manufacturing facilities in Brazil, China, Czech Republic, Germany, India, UK and USA. Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the technology provider. Equity Shares are listed both on Mumbai and National Stock Exchanges of India.

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