The Board of Directors of V-Guard Industries Limited, the electronic and electrical major, today considered and adopted the audited financial results of Company, for the year ended 31st March, 2011.
The Profit After Tax, before exceptional profit, for the Fourth Quarter of the fiscal 2010-11, increased to Rs.11.29 crores, which is 85.57 % up over the corresponding quarter of previous year. The turnover of the Company for the last quarter was Rs. 222.59 crores, showing an increase of 56.46%, from Rs. 142.27crores, the turnover for the corresponding quarter of the previous year.
The Profit After Tax, before exceptional profit, for the fiscal year 2010-11, increased to Rs. 39.70 crores, which is 55.84 % up over the previous year. The turnover of the Company for the financial year was Rs. 726.34 crores, showing an increase of 59.96 %, from Rs. 454.09 crores, the turnover for the previous year. Considering the improved profit, the Board of Directors recommends payment of dividend at the rate of 35 %, i.e., Rs. 3.50 per share.
Mithun K. Chittilappilly, Executive Director of the Company, said that the surge in the top line and profit is mainly due to the strategy of foraying into new markets, which has paid off well. The contribution from non-South Indian markets, to the turnover, is more than Rs. 160.00 crores in the fiscal 2010-11.
Dr. George Sleeba, Joint Managing Director said that the Company has fully utilized the proceeds of the IPO for the commissioning of various projects mentioned in the offer document and the remaining two projects, i.e., the distribution centres in Hubli and Vijayawada, will be completed in the third quarter of the current fiscal. He added that, “The total estimated CAPEX for the financial year 2011-12 is more than Rs. 20.00 crores, which includes setting up of a manufacturing facility for solar water heater at Perundurai, with improved technology”.
V-Guard is Official Partner to the Kochi Tuskers
Kochi: V-Guard- India’s leading electric and electronics major is the official partner to Kerala’s 20-20 IPL Team Kochi Tuskers Kerala. This prestigious partnership will give V-Guard the opportunity to feature Sri Lankan Cricketers, Mahela Jayawardane, Muttiah Muralitharan and Indian Batsman VVS Laxman in brand association promotions. The V-Guard logo will also have pride of place on the leading arm jersey of all players in the Kochi Tuskers team.
Mahela Jayawardane, the Sri Lankan cricket star and captain of the Kochi Tuskers team, who is just coming off a brilliant century in the 2011 World Cup Finals, Muttiah Muralitharan, the leading wicket taker in the word of test cricket and ace Indian batsman, VVS Lakshman, one of India’s most reliable players who can change the course of the match with his brilliant batting skills and consistent performance, form the key association ambassadors of V-Guard. Sources from the Company say that they have chosen these three stars from the team for their brand promotion, as they are among the most reliable players in the cricketing world and live up to the very meaning of V-Guard’s famous punchline - “the name you can trust”.
Annual Young Managers contest, 2011
V-Guard Industries Ltd. bagged the prestigious 29th Annual Young Managers contest, 2011, organized by Kerala Management Association (KMA) on 18th Feb., 2011. The team came in ahead of many large corporate houses including, IOC, BPCL, Cochin Shipyard, Federal Bank, MRF, Binani Zinc, IBS software, HML, among others. The topic was “Managing a growing Metropolis”. It is indeed a great achievement for us.
CONGRATULATIONS to the team members - Mr. Praveen V. K, Mr. John Mathew Sebastian, Mr. Vinay Suthan and Ms. Salini John, for this outstanding achievement.
The awards will be distributed at a ceremony to be held on Monday, 21st Feb. 2011, at 5 p.m. at Gokulam Convention Centre, Kaloor.
ROTARY-BINANI ZINC CSR AWARD