The Hindu Business Line : Berger Paints net rises 32%; to pay 30% final dividend

THE board of directors of Berger Paints India Ltd at a meeting here on Tuesday recommended a final dividend of 30 per cent for the year 2003-04 on the expanded share capital post bonus.

The company had earlier paid an interim dividend of 35 per cent on the pre-bonus capital. This amounts to 80 per cent of the payouts on the pre-bonus capital compared to 60 per cent in 2002-03.

During the 2003-04, the company's consolidated gross sales were Rs 814.10 crore (Rs 714.44 crore in 2002-03). Gross sales grew by 14 per cent, profit before tax was up by 36 per cent at Rs 61.4 crore (Rs 45.22 crore) and net profit at Rs 44 crore (Rs 33.42 crore) by 32 per cent.

The outlook for 2004-05 remains bright despite cost pressures caused by high crude price and volatility in rupee-dollar exchange rates, according to company sources.

The demand for paints for housing, infrastructure and automotive sectors augurs well for the paints business in the current year, sources said. Berger Paints will soon introduce `Illusions' designer finishes, which have been well received by architects and interior designers in the country, sources added.