Tuesday, May 22, 2012


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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