| V-GUARD ANNOUNCES POSITIVE YEAR END RESULTS NET PROFIT UP BY 18.66% BOARD RECOMMENDS 25% FINAL DIVIDEND Kochi, 28th May 2009:The Board of Directors of V-Guard Industries Limited today considered and adopted the Audited Financial Results of the Company for the year ended 31stMarch 2009. The net sales of the Company for the year ended 31st March 2009 was Rs.31,677.67 Lakhs as compared to Rs.27,811 Lakhs for the previous fiscal thereby registering a growth of 13.90%. Profit after tax of the Company from business is Rs.1,734.65 lakhs , which shows an increase of 18.66%, when compared with that of the last fiscal. Considering the positive results, the Board of Directors have recommended a final dividend of Rs.2.50/- per equity share of the Company, subject to the approval of the shareholders of the Company at the ensuing Annual General Meeting of the Company. The Company has commissioned two manufacturing facilities in the fiscal 2008-09, for the manufacture of LT Power cables at Coimbatore and that of Building Wire Cables at Kashipur. Mithun K Chittilappilly, Executive Director of the Company said that "Our main focus is to enhance our market share in all our products categories. We will further augment our national presence pan India, with our expanded branch and distribution network. The company, which came out with its maiden public issue in the month of February 2008, has completed four of its IPO projects, thereby utilizing 82% percentage of the total issue proceeds. The company has restructured its Director Board by appointing Mr. N. Sreekumar as the Joint Managing Director of the Company w.e.f. 01st June 2009 and Mr. A K Nair as the Independent Director of the Company on 27th May 2009. |
