Mumbai, MAN Industries (India) Limited, one of the leading Large Dia meter pipe manufacturing companies has reported a net profit of Rs 67.09 crores for the financial year ended March 31, 2010, as compared to Rs 47.43 crores in the last year, registering a rise of 41 per cent.
The companys board during its meeting held today took on record the audited financial results for the year ended March 31, 2010. The board approved 35 per cent dividend for its shareholders as compared to 30 per cent a year ago.
The company has reported Net Sales at Rs. 1524.29 crores for the financial year ended March 31, 2010 as compared to Rs.1882.93 crores of the previous year due to lower raw material cost. Earnings per share (EPS) for the FY 10 stood at Rs 12.59 as compared to Rs 8.90 in the previous year.
Net profit for the quarter ended March 31, 2010 rose by 56 per cent to Rs 30.17 crores, as against Rs 19.38 crores posted in the same period last fiscal year. Net sales stood at Rs 452.81 crore during the quarter ended March 31, 2010 as against Rs 721.62 crores reported in the same period last fiscal.
Earnings per Share (EPS) for the quarter stood at Rs 5.66 as compared to Rs 3.64 in the corresponding period of last year.
Commenting on the results Mr. R.C.Mansukhani Chairman of the company said Our overall performance as per our expectations as our current order book is for Rs 2000 crore. We are very much optimistic about the future performance of the company since we have been aggressively bidding for new orders in domestic as well as international markets and hopeful of winning the orders in the year ahead.
Highlights for the quarter ended March 31, 2010 vs March 31, 2009
(Rs. in crore)
Sr No
Particular
Q4 March 31, 2009
Q4 March 31, 2010
FY 2008-09
FY 2009-10
1
Net Income from Sales
721.62
452.81
1882.93
1524.29
2
PAT
19.38
30.17
47.43
67.09
3
EPS (Rs.)
3.64
5.66
8.90
12.59
Notes to Editor
About MAN Group
MAN Industries (India) Ltd., an ISO 9001 / 14001 / 18001 accredited Company, is a leading manufacturer of SAW Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum.
The Company is a part of the well diversified MAN Group, growing under the able leadership of Shri. R. C. Mansukhani and Mr J C Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has now become a large player in SAW Pipes. It is also a significant sized player in Spirally Welded Pipes and Coating Systems. MAN Industries operations are spread across globally with offices in U.K. and U.A.E. besides India.
The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with Dubai International Financial Exchange (DIFX).
