Financial Daily from THE HINDU group of publications
Wednesday, May 03, 2006
Financial Daily from THE HINDU group of publications Wednesday, May 03, 2006 |
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Corporate
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Bonus Announcements KSL & Ind announces 1:5 bonus Our Bureau
Mumbai , May 2 KSL and Industries Ltd has announced a bonus issue in the ratio of one share for every five held. The company's net profit for the fourth quarter declined by 12.75 per cent to Rs 6.84 crore as against Rs 7.84 crore in the corresponding previous year.
Key figures
Total sales have gone up to Rs 101.15 crore, an increase of 143.73 per cent (Rs 41.5 crore). Mr Saurabh Tayal, Chairman, KSL, said that the drop in Q4 profits were due to high rate of interest and depreciation. Net profit for the whole year rose to Rs 31.92 crore, up by 199 per cent (Rs 10.67 crore). Net sales have increased by 127 per cent to Rs 348.90 crore as against Rs 153.62 crore in the last fiscal. The company's board has recommended a dividend of 10 per cent.
Housing project
The company has recently ventured into real estate and infrastructure and is in the process of developing a housing project in Nagpur at a capital outlay of Rs 450 crore. This project is being implemented through its subsidiary, Reward Real Estate Company.
Name change
The company proposes to change its name to KSL Realty and Infrastructure Ltd, in keeping with the main focus of the company in the future. They intend to develop more than one crore sq. feet of land in two years and have earmarked sites in Pune, Thane, Bhavnagar and other Tier-II cities for township projects. KSL and Industries stock closed at Rs 138.80, down by 2.60 per cent, on BSE.
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