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 25th July, 2008
Excellent Performance by IFGL Refractories
The Board of Directors of IFGL Refractories Ltd (IFGL), at their meeting held today approved and took on record the unaudited financial results for three months ended on 30th June, 2008.The total turnover, profit before tax and profit after tax, on stand alone and consolidated basis, for said three months are as follows.
| |
|
(Rs in lacs) |
| |
Consolidated |
Standalone |
| |
For three months ended
30.06.2008 |
For three months ended
30.06.2007 |
Growth (%) |
For three months ended
30.06.2008 |
For three months ended
30.06.2007 |
Growth
(% ) |
| Total Turnover |
10373 |
8983 |
15.47 |
4844 |
3927 |
23.35 |
| Profit before tax |
1511 |
703 |
114.94 |
963 |
408 |
136.03 |
| Profit after tax |
1060 |
478 |
121.76 |
627 |
261 |
140.23 |
| EPS (Rs) |
3.06 |
1.38 |
|
1.81 |
0.75 |
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On an annualized basis, earnings per share on consolidated and standalone basis works out to Rs. 12.24 and Rs. 7.24 as compared to Rs. 8.23 and Rs. 4.87 respectively for financial year ended on 31st March , 2008.
The Company has shown substantial growth in both topline and bottomline in spite of increased fuel and raw material costs. This was possible due to (a) higher sales (b) depreciation of Rupee against foreign currencies particularly Euro and GBP (c) better Product mix (d) efficient management of cash flows, (e) containment of overheads and (f) effective utilization of resources (g) reduction of process losses and/or wastages.
The buoyancy in the Indian Steel Industry, is continuing and barring unforeseen circumstances, the Board of Directors of IFGL are of the view that the performance for current financial year will be appreciably better than that of previous financial year ended on 31st March, 2008. For the last financial year, payment of 20% dividend i.e.. Rs 2 per Equity Share have been recommended and the same will be distributed after AGM of shareholders on Friday, 22nd August, 2008.
The results of operation of Hofmann Ceramic Group of Germany, recently acquired by the Company, will be reflected in the next quarter, which will further improve the consolidated performance of the Company.
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