IFGL Refractories achieve high
level of performance
Kolkata, 19th May,
2012 - The Board
of Directors of IFGL Refractories Ltd today approved Audited financial results
both on stand alone and consolidated basis for financial year 2011-2012.
Rs. in
millions
|
Financial
Year
|
Variance
| ||
|
2011-12
|
2010-11
|
Amount
|
%
|
Consolidated
|
|
|
|
|
Total Income
|
6,065
|
4,758
|
1307
|
27.47
|
Profit before Tax
|
582
|
327
|
255
|
77.98
|
Profit after Tax and Minority
Interest
|
399
|
243
|
156
|
64.20
|
EPS
|
11.28
|
6.87
|
4.41
|
64.19
|
Stand-alone
|
|
|
|
|
Total Income
|
2,772
|
2,111
|
661
|
31.31
|
Profit before Tax
|
262
|
110
|
152
|
138.18
|
Profit after Tax
|
174
|
74
|
100
|
135.14
|
EPS
|
4.79
|
1.99
|
2.80
|
140.70
|
Several measures to enhance overall operational efficiency were taken and
above performance aptly shows results there from.
Keeping in view the Company’s Dividend Policy, the Directors are pleased
to recommend payment of following Dividend for financial year
2011-12.
a)
5% on Preference Shares, i.e.
Rs
5/- per
Preference Share of `
100/-
each.
b) 15% on Equity
Shares i.e. Rs 1.50 per Equity Share of
` 10/- each as against 5% for
preceding financial year.
Detailed financial results have
been e.mailed to Bombay Stock Exchange Limited and National Stock
Exchange of India Limited and are also available on the Company’s
Website: www.ifglref.com.
Other significant details for financial year 2011-12 are the
following:-
a)
Production of Ceramic Filters for foundries as per know how of Hofmann
Ceramic GmbH, Germany at Company’s manufacturing facilities at Kalunga (India)
has been stabilized and the Company is also manufacturing Big Filters
thereat.
b)
Recognized for exports and received CAPEXIL’s Award for 9th
consecutive time for financial year 2010-11.
c)
Exports effected (including
indirect) aggregated to Rs 1443 million.
d)
About 58 % and 47% of Total Income and Profit before Tax respectively on
consolidated basis are from overseas subsidiaries.
e)
IFGL Exports Ltd., (IEL) has become subsidiary of the Company on and from
30th March, 2012. The Company hold 51% of total equity Share Capital
thereof. IEL is engaged in manufacture of ISO Products ie Continuous Casting
Refractories and facilities are situated at new area of Kandla Special Economic
Zone ie on western coast of India and commercial production has been started
from 1st May, 2012. This facility provide additional capacity of
about 25% to the Company with an option to double without incurring major
capital expenditure.
The Directors continue to be optimistic about future of Iron and Steel
Industry both in India and abroad and envisage that going forward the thrust
will be on ‘Clean Metal’ and thus the demand for specialized refractories and
operating systems produced by the Company will be persisting. Hence future
outlook of the company is bright barring unforeseen
circumstances.
About IFGL
Refractories:
IFGL Refractories is a leading
manufacturer of specialized Refractories having manufacturing facilities in
Brazil, China, 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 Bombay Stock Exchange
Limited and
National
Stock Exchange of India Limited.
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