By Vivek Kotian Mob: 00919820310487 E-mail: email@example.com
Gujarat’s leading cement company, Sanghi Industries Limited, reported a net profit of Rs 81.87 crore for the full year ended June 30, 2012 as against a loss of Rs 29.55 crore in the previous fiscal. Net sales rose by 8.3% to Rs 974.07 crore in current year as against Rs 899.48 crore during last year. The earnings per share (EPS) for 2011-12 stood at Rs 3.72 as against a negative EPS of Rs -1.34 in previous financial year.
For the fourth quarter ended June 30, 2012, Sanghi Industries posted a net profit of Rs 103.69 crore, a growth of 4791% over Rs 2.12 crore PAT reported in the corresponding quarter of last year. Net sales in fourth quarter at Rs 294.22 crore were higher by 51.3% over previous fiscal’s same period net sales of Rs 194.46 crore.
Commenting on the financial performance of the company, Mr. Alok Sanghi, Director of Sanghi Industries Ltd. said, “This year we reported a decent profit to come back in the black. In the fourth quarter we not only posted better margins, but also higher growth in sales compared to what we achieved in the previous quarter. Our continuous efforts to improve efficiency and control expenditure have helped us to significantly improve profits.”
About Sanghi Industries Limited:
Sanghi Industries Limited has emerged as a major cement player in western India over the last few years. Company’s 3 million tonnes per annum capacity plant in the Abdasa taluka of Kutch district in Gujarat is ranked as the second largest cement plant at one location in India. It is one of the top 3 players in Gujarat and is now increasing its presence in Maharashtra, Rajasthan and Madhya Pradesh (MP).