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On a growth path - Batliboi Print E-mail
Written by Cherian   
Thursday, 03 May 2007

 MUMBAI : Batliboi has   come  up  with  excellent  results  for  the   year  ended March 31, 2007. The total turnover ( including indirect sales from agencies ) of the Company grew by 16 % to Rs. 30,649.43 Lacs as against Rs. 26,348.08 Lacs for the previous year. The total income of the Company grew by 27 % at Rs. 13,247.97 Lacs as against Rs. 10,397.02 Lacs in the previous year. The profit before tax of the company shot up by 56 % to Rs. 1,988.19 Lacs from Rs. 1,274.15 Lacs during the previous year. After considering the provisions for Fringe Benefit Tax of Rs. 37.99 Lacs ( previous year 48.58), Deferred Tax Liabilities of Rs. 55.70 Lacs ( previous year Rs. 256.41 Lacs) and Current Tax of Rs. 572.62 Lacs ( previous year Rs. 112.46 Lacs) the Company’s Net Profit after Tax has increased by  54 % to Rs. 1,321.88 Lacs from Rs. 856.70 Lacs in the previous year. The earning per share jumped up to 9.76 Rs. per equity share from Rs. 6.35 per share.

 

 The Board at its meeting held on April 21, 2007 has recommended higher equity dividend of 20 % for 2006 – 07 against 15 % in the previous year.

 In persuasion of its strategy of inorganic growth the company recently completed strategic acquisition of 100 % shareholding of Quickmill Inc., a growing and profitable Machine Tool Company based in Peterborough, Ontario Canada for Rs. 22 Crores.  

 The company has also announced the amalgamation of an associate company, Batliboi SPM Pvt. Ltd. (BSPMPL) with the company. BSPMPL manufactures Special Purpose Machine Tools mainly for Automobile and Auto Component industry and possesses excellent design and engineering capabilities. The merger would bring in synergies and economics of scale through consolidation.

 

 

Last Updated ( Sunday, 06 January 2008 )
 
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