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Indus Fila recommends dividend of 15% on strong results

May '07
Textile sourcing company Indus Fila Limited has seen a huge 227% year on year increase in its Total Income for FY07, and expects Sales for FY08 to be in the range of Rs 410-421 crores. The company's Total Income is at Rs 273.64 crores, against Rs 83.67 crores in FY06.

The company also expects Profit After Tax (PAT) to hit Rs 40-42 crores in FY08. For the financial year FY07, Indus Fila has seen PAT rise 406% YoY, to Rs 26.14 crores, from Rs 5.16 crores last year.

The company has recommended a dividend of 15%, that is, Rs 1.50 per share of Rs 10 each, subject to shareholder approval. Basic and diluted Earnings Per Share (EPS) for FY07 is at Rs 18.68 per share, up 64% YoY from Rs 11.36 per share.

“The excellent results underscore our confidence in hitting the Rs 410-421 crore mark in revenues in the next financial year, with our target expansion set out in the objects of the IPO being implemented.

With our Apparel Expansion in Bangalore and a new plant at Hindupur in Andhra Pradesh, our production capacity will go up from 11,000 garment pieces per day to 42,000 pieces per day,” said Mr. Nitin Mandhana, Vice Chairman and Managing Director, Indus Fila Ltd.

For the quarter ended March 31, 2007, Indus Fila reported Total Income of Rs 83.6 crores and PAT of Rs 8.18 crores.

Since the company has published audited results for the first time since its Initial Public Offering in March 2007, the figures for the corresponding quarter of the previous year have not been given.

Indus Fila Limited

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