The Hindu Business Line : Shree Rajasthan Syntex net profit doubles in Q4

Kolkata June 6 Shree Rajasthan Syntex Ltd, for the quarter ended March 31, 2007, has recorded a net profit of Rs 2.07 crore against the Rs 1 crore for the corresponding quarter of the previous fiscal. The company, during the quarter, has achieved a jump in net sales to Rs 80.5 crore (Rs 41.60 crore). PBT has increased to Rs 2.71 crore (Rs 1.34 crore).

The company, for the year ended March 31, 2007, has recorded an 81 per cent jump in profit after tax at Rs 4.77 crore (Rs 2.63 crore). EPS was at Rs 15.28. Net turnover for 2006-07 rose 83 per cent to Rs 298.56 crore (Rs 163.10 crore). The board has recommended a dividend of Re 1 per share (10 per cent) on the expanded capital. The paid-up equity as on March 31, 2007 is placed at Rs 11.75 crore.

According to the company's Notes attached to the audited results, the Rajasthan High Court has approved the scheme of amalgamation, with effect from April 1, 2006, of Shree Rajasthan Texchem Ltd with the company.

Shree Rajasthan Syntex is in the process of setting up an 8-MW thermal plant with a capital outlay of Rs 35 crore. The plant is expected to be commissioned by end-2007. The company has a capacity of 82,136 spindles in its spindles unit in Dungarpur.