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Leading cement manufacturer Sanghi Industries Ltd on Wednesday reported a net profit of Rs 81.87 crore for the full year ended June 30, 2012, against a loss of Rs 29.55 crore in the previous fiscal.
Net sales rose 8.3 per cent to Rs 974.07 crore (Rs 899.48 crore). The earnings per share (EPS) for 2011-12 stood at Rs 3.72 against a negative EPS of Rs -1.34 in previous financial year, according to a company statement here.
On Wednesday, the company’s share price at the BSE closed 20 per cent up at Rs 16.92.
For the fourth quarter ended June 30, 2012, Sanghi Industries posted a net profit of Rs 103.69 crore, a growth of 4,791 per cent over the Rs 2.12 crore PAT reported in the corresponding quarter of last year.
Net sales in the fourth quarter at Rs 294.22 crore were higher by 51.3 per cent over previous fiscal’s same period net sales of Rs 194.46 crore, said Mr Alok Sanghi, Director.
“Our efforts to improve efficiency and control expenditure have helped us to significantly improve profits," he added.
Sanghi Industries has emerged a major cement player in western India over the last few years. The company’s 3 million tonne per annum capacity plant in the Abdasa taluka of Kutch district in Gujarat is ranked the second largest cement plant at one location in India. It is now increasing its presence in Maharashtra, Rajasthan and Madhya Pradesh, the release said.
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