IFGL Refractories
achieve high level of performance
Kolkata,
19th May, 2012
- The Board of Directors of IFGL Refractories Ltd today approved Audited
financial results both on stand alone and consolidated basis for financial year
2011-2012.
Rs. in millions
|
|
Financial
Year
|
Variance
|
||
|
|
2011-12
|
2010-11
|
Amount
|
%
|
|
Consolidated
|
|
|
|
|
|
Total Income
|
6,065
|
4,758
|
1307
|
27.47
|
|
Profit before Tax
|
582
|
327
|
255
|
77.98
|
|
Profit after Tax and Minority Interest
|
399
|
243
|
156
|
64.20
|
|
EPS
|
11.28
|
6.87
|
4.41
|
64.19
|
|
Stand-alone
|
|
|
|
|
|
Total Income
|
2,772
|
2,111
|
661
|
31.31
|
|
Profit before Tax
|
262
|
110
|
152
|
138.18
|
|
Profit after Tax
|
174
|
74
|
100
|
135.14
|
|
EPS
|
4.79
|
1.99
|
2.80
|
140.70
|
Several measures to enhance
overall operational efficiency were taken and above performance aptly shows
results there from.
Keeping in view the Company’s Dividend
Policy, the Directors are pleased to recommend payment of following Dividend
for financial year 2011-12.
a) 5% on Preference Shares, i.e. Rs 5/- per Preference Share of ` 100/- each.
b) 15% on Equity Shares i.e. Rs 1.50 per Equity Share of ` 10/- each as against 5% for
preceding financial year.
Detailed financial results have
been e.mailed to Bombay Stock Exchange Limited and National
Stock Exchange of India Limited and are also available on the Company’s Website: www.ifglref.com.
Other significant details for
financial year 2011-12 are the following:-
a) Production of Ceramic Filters for
foundries as per know how of Hofmann Ceramic GmbH, Germany at Company’s
manufacturing facilities at Kalunga (India) has been stabilized and the Company
is also manufacturing Big Filters thereat.
b) Recognized for exports and
received CAPEXIL’s Award for 9th consecutive time for financial year
2010-11.
c) Exports effected (including
indirect) aggregated to Rs 1443
million.
d) About 58 % and 47% of Total
Income and Profit before Tax respectively on consolidated basis are from
overseas subsidiaries.
e) IFGL Exports Ltd., (IEL) has
become subsidiary of the Company on and from 30th March, 2012. The
Company hold 51% of total equity Share Capital thereof. IEL is engaged in
manufacture of ISO Products ie Continuous Casting Refractories and facilities
are situated at new area of Kandla Special Economic Zone ie on western coast of
India and commercial production has been started from 1st May, 2012.
This facility provide additional capacity of about 25% to the Company with an
option to double without incurring major capital expenditure.
The Directors continue to be
optimistic about future of Iron and Steel Industry both in India and abroad and
envisage that going forward the thrust will be on ‘Clean Metal’ and thus the
demand for specialized refractories and operating systems produced by the
Company will be persisting. Hence future outlook of the company is bright
barring unforeseen circumstances.
About IFGL Refractories:
IFGL Refractories is a leading
manufacturer of specialized Refractories having manufacturing facilities in Brazil, China,
Germany, India, UK
and USA.
Krosaki Harima Corporation (a subsidiary of Nippon Steel Corporation, Japan) is the
technology provider. Equity Shares are listed both on Bombay
Stock Exchange Limited and
National Stock Exchange of India Limited. For more information about IFGL
Refractories, please visit www.ifglref.in
