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Hyderabad , July 1

THE board of directors of Visaka Industries Ltd, the Hyderabad-based yarn and asbestos cement sheets manufacturer, has recommended a final dividend of 20 per cent for the fiscal, taking the total dividend for the year to 30 per cent.

The board had earlier declared an interim dividend of 10 per cent. For the previous fiscal, the company paid 25 per cent dividend. It adopted audited financial results for the fiscal ended March 2005 on Thursday.

As per the audited financial results for 2004-05, the company's net sales turnover was Rs 208.08 crore, marginally lower than Rs 208.59-crore reported in the unaudited financial results. The net profit has increased to Rs 14.35 crore (Rs 13.73 crore), yielding an EPS of Rs 13.12 (Rs 12.55) on an equity base of Rs 10.67 crore. At the end of March 2005, the company's reserves stood at Rs 59.35 crore.

During 2003-04, the company posted a net profit of Rs 10.13 crore on a net sales turnover of Rs 155.11 crore, yielding an EPS of Rs 9.18.

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