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Sangam (India) net sales up 59% in FY07
25 May '07
4 min read
The work of installation of remaining part of the project is progressing as per schedule. The installation of Captive Thermal Power Plants is nearing completion, after commencement of which the company will meet 100% power requirement from Captive source which will result in substantial cost reduction.
Dividend:
The Board of Directors have recommended dividend at the rate of 10 percent on equity shares and pro-rata dividend of Rs. 1.33.crore in aggregate on Preference Shares of erstwhile SPBL Ltd. (which have been redeemed as per approved scheme of amalgamation during the year) upto the date of redemption, for the financial year 2006-07.
Management Outlook:
Mr R P Soni, Chairman, said, “With our timely expansion on the way, strong customer relationships, improves realisations and management and technology strengths, we're now clearly focused on growth in the future. We will consolidate and augment our strong presence across the market and position ourselves firmly as the partner of choice for global majors in the Indian market.
He added, “Despite the adverse impact on account of appreciating rupee, we will continue to maintain growth in sales and margin level. Further, we have hedged our receivables and order book in overseas market at good levels.”
Order Book Position: The company's book order position is Rs. 125 crore. Domestic orders toll at Rs. 60 crore and the exports orders worth Rs. 65 crore are to be executed in the next three- four months.
Guidance for FY 2007 - 08: The company expects it net profit to grow at the rate 50-55 per cent in FY08 while net sales growth is likely to be in the region of 30-35 per cent. The company to witness significant improvement in financial performance from Q2FY08 following the commencement of the captive thermal power unit and improvement in the efficiency level after stabilisation of production on new capacity.
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Dividend:
The Board of Directors have recommended dividend at the rate of 10 percent on equity shares and pro-rata dividend of Rs. 1.33.crore in aggregate on Preference Shares of erstwhile SPBL Ltd. (which have been redeemed as per approved scheme of amalgamation during the year) upto the date of redemption, for the financial year 2006-07.
Management Outlook:
Mr R P Soni, Chairman, said, “With our timely expansion on the way, strong customer relationships, improves realisations and management and technology strengths, we're now clearly focused on growth in the future. We will consolidate and augment our strong presence across the market and position ourselves firmly as the partner of choice for global majors in the Indian market.
He added, “Despite the adverse impact on account of appreciating rupee, we will continue to maintain growth in sales and margin level. Further, we have hedged our receivables and order book in overseas market at good levels.”
Order Book Position: The company's book order position is Rs. 125 crore. Domestic orders toll at Rs. 60 crore and the exports orders worth Rs. 65 crore are to be executed in the next three- four months.
Guidance for FY 2007 - 08: The company expects it net profit to grow at the rate 50-55 per cent in FY08 while net sales growth is likely to be in the region of 30-35 per cent. The company to witness significant improvement in financial performance from Q2FY08 following the commencement of the captive thermal power unit and improvement in the efficiency level after stabilisation of production on new capacity.
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Sangam (India) Ltd
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