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, 2012.
The Profit After Tax, for the fourth quarter of the fiscal 2011-12, was Rs. 19.17 crores, which is 70% up over the Profit After Tax of Rs. 11.29 crores, without considering exceptional profit, achieved during the corresponding quarter of previous year. The net turnover of the Company for the last quarter was Rs. 276.46 crores, showing an increase of 24%, from Rs. 222.35 crores, the turnover for the corresponding quarter of the previous year.
The Profit After Tax, for the fiscal year 2011-12, was Rs. 50.80 crores, which is 28% up over the Profit After Tax of Rs. 39.70 crores, without considering exceptional profit achieved during the previous year. The gross revenue from operations of the Company for the financial year was Rs. 1,006.53 crores, showing an increase of 36%, from Rs. 737.47 crores, the gross revenue from operations 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, Managing Director of the Company, said that margins for the quarter under review has improved mainly due to better product mix and cost control measures implemented by the Company. He said that demand for all the product verticals were good and contributed to the robust sales growth.
He said that the company is planning to spend Rs. 25.00 crores as CAPEX for the current financial year, which includes doubling of its wire plant capacity at Kashipur.
V-Guard Industries Ltd., crosses Rs. 1,000 crores in turnover
V-Guard Industries Ltd., one of India's top electrical and electronics majors, has crossed a gross turnover of Rs.1,000 crores for the financial year 2011-12. A point to be noted is that V-Guard had achieved a turnover of Rs. 100 crores in 2000 and has grown by a whopping 10 times in the last 11 years. Speaking on the occasion Mr. Mithun K. Chittilappilly, Managing Director of V-Guard Industries Ltd., commented, "This monumental achievement has been made possible because of the long standing support of our employees, channel partners and our commitment to serving quality products to our consumers". Mr. Mithun K. Chittilappilly also spoke about the appointment of Mr. V. Ramachandran as Director - Marketing and Strategy, from April 2012.Mr. Ramachandran brings with him cross-functional expertise across both domestic and global markets and a rich work experience of over 25 years with leading companies like Unilevers and LG Electronics.
V-Guard Group: Looking ahead
Mr. Kochouseph Chittilappilly, Founder, V-Guard Industries Ltd., one of India's top electrical and electronics majors, informed that there has been a re-structuring of the top management in the Company. The decision was taken at the Board Meeting held recently. Mr. Kochouseph Chittilappilly said that his younger son, Mr. Mithun K. Chittilappilly has become the Managing Director of V-Guard Industries Ltd. and has taken charge of his new office on April 2, 2012. Mr. Kochouseph Chittilappilly will now continue in the role of Vice Chairman of V-Guard Industries Limited.
The appointment of Mr. V. Ramachandran as Director-Marketing & Strategy from April 2012 was also announced. Mr. Ramachandran, a leading Management Professional, brings with him over 25 years of cross-functional experience across blue chip companies like Hindustan Unilever Ltd, LG Electronics, etc. His last assignment was as Director and Chief Strategy Officer: LG Electronics, South West Asia Region. On Mr.Ramachandran's appointment, Mr. Kochouseph Chittilappilly commented, "Ramachandran's cross-functional expertise, rich experience and exposure to the global markets will help V-Guard to achieve its next phase of growth".
V-Guard Industries Ltd. implements SAP
SAP ECC was implemented in the company in a record time of 6 months. It covers Sales & Distribution, Finance & Controlling, Material Management, Production Planning and Quality Systems. The system was implemented in partnership with IBM Global Solutions and HP.