• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Q4 net rises to Rs 11.3 cr; exports jump 370%

Kolkata June 18 Ramsarup Industries Ltd, engaged in the business of manufacture of steel wires and laying of power transmission lines, has reported a 56 per cent jump in profit after tax for 2006-07 at Rs 43.56 crore (Rs 27.8 crore). The company's total income has shot up by 28 per cent to Rs 1,306.06 crore from Rs 1,018.02 crore in 2005-06.

During the year, the company has declared an interim dividend of Rs 1.50 per share of Rs 10 each (15 per cent), and the board has now recommended an additional 5 per cent, subject to approval by shareholders.

For the quarter ended March 31, 2007, Ramsarup Industries has recorded a 68.2 per cent jump in PAT at Rs 11.32 crore (Rs 6.74 crore). Total income is put at Rs 419.66 crore up from Rs 320.36 crore.

Exports, according to an official release issued by the company, have shot up by 370 per cent, from Rs 15 crore in the previous year to Rs 71 crore in 2006-07.

As per the statement, a large chunk of the company's expansion projects at Kalyani, Shyamnagar, and Durgapur plants, involving an investment of Rs 222 crore, has been completed. The TMT bar expansion project in Shyamnagar will now produce an additional 50,000 tonnes, and the projects at Kalyani and Durgapur involving an investment of Rs 124 crore, will produce an additional 79,000 mt.

Work on the company's Rs 98-crore Greenfield project at Durgapur, set to produce wires for infrastructure and power sectors, is said to be on in full swing. Production is expected to commence in September. The board has alreadyapproved raising of funds (in the first tranche) to the tune of $10 million through issue of FCCBs (Foreign Currency Convertible Bonds), ADRs or GDRs to fund the ongoing expansion plans.

The company's main focus is said to be in Africa and other neighbouring countries. Ramsarup is already executing orders for bailing wires in Africa.

More Stories on : Steel | Dividend Announcement

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Ramsarup Industries full-year PAT up 57% at Rs 44 cr

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line