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To
The Shareholders
The Directors have the pleasure of presenting the Thirty Fifth Annual Report of your Company together with the audited accounts for the year ended 31st March 2008.
Operating Results
The summary of standalone operating results for the year and appropriation of divisible profits is given below:
| Rs. in Crores |
| |
2007-08 |
2006-07 |
| Sales & Operating Income |
995.90 |
882.90 |
| Operating Profits (PBDIT) |
216.98 |
167.49 |
| Less Depreciation |
32.74 |
30.24 |
| Less Net Interest Expense |
18.40 |
13.15 |
| Profit Before Tax & Exceptional Items |
165.84 |
124.10 |
| Less Net Income Tax Expense |
10.32 |
11.14 |
| Net Profit for the Period |
155.52 |
112.96 |
| Balance brought forward from Last Year |
62.02 |
48.39 |
| Distributable Profits |
217.53 |
161.35 |
| Appropriated as under: |
|
|
| Transfer to General Reserve |
99.00 |
70.39 |
| Proposed Equity Dividend |
29.61 |
-- |
| Interim Dividend |
-- |
25.38 |
| Tax on Distributed Profits |
5.03 |
3.56 |
| Balance Carried Forward |
83.89 |
62.02 |
| Earnings Per Share |
18.38 |
13.35 |
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The sales and operating income increased to Rs. 995.90 crores from Rs. 882.90 crores in the previous year yielding a growth of 12.80%. The export turnover aggregated to Rs. 235.91 crores registering a growth rate of 16.97%. The operating profit for the year under review increased to Rs. 216.48 crores as against Rs. 167.49 crores in the previous year registering a growth of 29.25%. The profits after tax for the year under review increased to Rs. 155.52 crores as against Rs. 112.96 crores in the previous year registering a growth of 37.70%. The earnings per share for the year was Rs. 18.38 as against Rs. 13.35 in the previous year.
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