The Hindu Business Line : Chemfab Alkalies net up five-fold

CHEMFAB Alkalies Ltd has reported a turnover of Rs 64.78 crore for the year ended March 31, 2004, up 18 per cent from Rs 54.95 crore posted in the previous year.

Net profit increased nearly five times to Rs 6.78 crore, from Rs 1.41 crore previously.

The company had in March announced an interim dividend of Rs 2.5 per share. No final dividend has been recommended. For 2002-03, it had declared a dividend of Rs 1.2 per share.

Interest cost was only marginally lower at Rs 4.71 crore against Rs 4.97 crore.

The company has a paid-up equity capital of Rs 3.47 crore. Earnings per share works out to Rs 9.42, up from Rs 3.78 for the year 2002-03. The Chemfab Alkalies' Chairman and Managing Director, Dr C H Krishnamurthy Rao, has told Business Line that the company intended to raise Rs 7 crore from the market, preferably by issuing shares in Singapore.