Financial Daily from THE HINDU group of publications
Saturday, May 08, 2004
Financial Daily from THE HINDU group of publications Saturday, May 08, 2004 |
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Corporate
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Financial Performance Graphite net up at Rs 51 cr, to pay Rs 4 Our Bureau
Kolkata , May 7 THE board of directors of Graphite India Ltd (GIL), here on Friday recommended a dividend of Rs 4 per equity share of Rs 10 each for the fiscal ended March 31, 2004. During the year under review, the company earned a net profit of Rs 51.32 crore on a total income of Rs 549.30 crore compared to the net profit of Rs 33.39 crore and sales turnover of Rs 410.08 crore last fiscal. The electrode division operated at more than rated capacity. In volume terms, the domestic sales of graphite electrode increased by 27 per cent and export sales rose by 29 per cent. GIL is optimistic that the demand for graphite electrodes continues to be strong. The general upsurge in the steel sector is also likely to benefit GIL. The company exports more than 70 per cent of its graphite electrode, while its order book position is quite healthy. According to a GIL source, the expansion project for enhancing the capacity of Durgapur plant by 20,000 tonnes at a capital cost of Rs 160 crore is progressing as per schedule and will be completed before the end of the current fiscal, thereby raising its total graphite electrode manufacturing capacity to 60,000 tonnes per year.
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