The Hindu Business Line : Texmaco PAT in 2004-05 jumps to Rs 15.6 cr

TEXMACO Ltd, for the year ended March 31, 2005, has registered an 80 per cent increase in turnover at Rs 303.72 crore against the Rs 169.36 crore in 2003-04. Profit after tax, according to an official release by the company here, has jumped by 159 per cent to Rs 15.66 crore from the Rs 6.04 crore for 2003-04.

The board of directors has recommended a dividend of Rs 2 per share (20 per cent) against the 75 paise (7.5 per cent) for last financial year. Gross profit was up at Rs 23.02 crore (Rs 11.68 crore). Exports, both physical and deemed, are placed at Rs 28.78 crore.

The company has pointed out that the value of free supply of inputs received from clients valued at around Rs 135 crore in respect of the contracts executed during the year is not reflected in the above stated turnover.

The company, during the year, achieved a production of 4,707 wagons, being approximately 23 per cent of the total industry production. The turnover of the wagons division has shot up to Rs 142.26 crore (Rs 73.20 crore). During 2004-05, it executed a large order valued at around Rs 74 crore, from Container Corporation (Concor Ltd) for 1,125 wagons.

A major breakthrough for the company in the Heavy Engineering Division was in the process equipment sector, where the order book in 2004-05 is said to have increased to Rs 72 crore against the Rs 13 crore as on April 2004.

The steel foundry division has continued to be the star performer with a new all-time high record of production and dispatch of 11,254 tonnes and 11,304 tonnes respectively. The turnover is placed at Rs 82.15 crore (Rs 48.83 crore).

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Texmaco PAT in 2004-05 jumps to Rs 15.6 cr