Gujarat Alkalies Quarter 4 Results

Gandhinagar, Thursday, the 16th May, 2013: The Board of Directors of Gujarat Alkalies & Chemicals Ltd (GACL) in their meeting held at Gandhinagar on 16th May, 2013 has approved the financial results for the fourth quarter and for the year ended on 31st March, 2013.

Shri M S Dagur, IAS, Managing Director of the Company stated that the Company has achieved highest ever Net Sales of Rs.1,794.31 crore for the year ended on 31st March, 2013 against Rs.1,698.22 crore in the corresponding previous year. Net Sales for the quarter ended on 31st March, 2013 achieved at Rs.459.47 crore against Rs.422.12 crore in the similar quarter of the previous year despite competitive market conditions and depressed economic scenario.

The Company has achieved highest ever Profit Before Tax of Rs.336.83 crore for the year ended on 31st March, 2013, which has increased by 50.76% as compared with Rs.223.42 crore of the previous year. Similarly, it has achieved the highest ever Profit After Tax for the year to Rs.235.35 crore, which has increased by 53.21% as compared with Rs.153.61 crore of the previous year. This performance is mainly due to improvement in price realizations during the year in majority of its products barring Chloromethanes, Aluminium Chloride and Chlorinated Paraffin Wax and cost control measures.

The highest ever Profit Before Tax of fourth quarter is Rs.121.41 crore, which shows an increase of 70.52% as compared with Rs.71.20 crore in the similar period of the previous year. The Profit After Tax for the quarter achieved at Rs.80.73 crore which has increased by 82.61% as compared with Rs.44.21 crore in the similar period of the previous year.

He further informed that the Board has recommended a dividend of 35% on equity shares of Rs.10/- each i.e. Rs.3.50 per share considering the improved performance.

He also added that the financial ratios improved significantly at the end of the year on 31st March, 2013 as compared to the year ended on 31st March, 2012:

1. Earning Per Share - Rs.32.05 from Rs.20.92
2. Cash Earning per Share - Rs.66.50 from Rs.51.01
3. Return on Equity - 13.03% (Before Dividend) from 8.15% (After Dividend)
4. Debt Equity ratio - 0.12 : 1 times (Before Dividend) from 0.20 : 1 times (After Dividend)
5. Book value per Share - Rs.246.02 (Before Dividend) from Rs.213.83 (After Dividend)
6. Interest Coverage Ratio - 61.66 times from 20.04 times
7. Debt Service Coverage Ratio - 6.23 times from 2.74 times

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TVS Motor sales grow by 14% in June 2011

The two-wheeler sales of the Chennai-based company TVS Motor Company has registered a growth of 14% to 1,82,456 units in June 2011. While the company had sold 1,59,688 units in June 2010.

The sale of motorcycles has been increased by five per cent comparing to previous years sales. All the products including scooters were increased during this period.

TVS Motor has started express service at Jyoti Motors in Bhubaneswar, the capital of Odisha state.

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