The unaudited financial results for the Quarter/ Nine months ended December 31, 2010 were approved by the Board of Directors at its meeting held on January 12, 2011.
Sales turnover during the nine months ended December 31, 2010 is Rs.6,353.20 crore, as against Rs. Rs.5,029.96 crore in the corresponding period last year.( 3 months ended Dec’10 is Rs.2047.07 crore against Rs. 1756.81 crore for the corrresponding period last year).
The gross profit before depreciation, interest and taxes for the nine months is Rs.1,016.00 crore as against Rs. 686.58 crore during the same period last year. (3 months period is Rs253.61 crore against Rs.243.85 crore during the same period last year).
After considering interest charge of Rs. 62.28 crore (corresponding period last year Rs. 60.62 crore). Profit before tax for the nine months is Rs. 906.84 crore as compared to Rs.582.13 crore in the corresponding period last year.( 3 months period is Rs.216.29 crore against Rs.211.12 crore during the same period last year).
Provision for taxation for the period works out to Rs. 285 crore (Corresponding period last year Rs.196 crore). The net profit is Rs.621.84 crore as against Rs. 386.13 crore during the corresponding period last year registering a growth of 61%.( Net profit for 3 months period is Rs.150.29 crore against Rs.146.12 crore during the same period last year)
During the quarter pursuant to the approval of shareholders through postal ballot, equity shares of Rs.2/- each have been subdivided into equity shares of Re.1 each.
The board of Directors approved payment of an Interim Dividend of Rs.4/- per share( 400% on face value of Re. 1/- share) on the equity capital of the Company to the shareholders whose name appear in the register of Members on January 24, 2011.
A copy of the advice to the Stock Exchanges giving the highlights of the un-audited financial results approved by the Board of Directors of the Company on January 12, 2011, is attached.
Founded in 1900, the Rs. 13617 Crores (USD 3.03 billion) Murugappa Group is one of India’s leading business conglomerates. The Group has 29 companies under its umbrella, of which seven are listed and actively traded in NSE & BSE. Headquartered in Chennai, the major companies of the Group include Carborundum Universal, Cholamandalam DBS Finance Ltd, Cholamandalam MS General Insurance Company Ltd, Coromandel International Ltd, Coromandel Engineering Company Ltd, EID Parry (India) Ltd, Parry Agro Industries Ltd, Tube Investments of India Ltd and Wendt (India) Ltd.Market leaders in served segments including Abrasives, Auto Components, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Construction, Bio-products and Nutraceuticals, the Group has forged strong joint venture alliances with leading international companies like Mitsui Sumitomo, Foskor, Cargill and Groupe Chimique Tunisien. The Group has a wide geographical presence panning 13 states in India and 5 continents across the Globe.
Renowned brands like BSA, Hercules, Ballmaster, Ajax, Parry’s, Gromor and Paramfos are from the Murugappa stable.
The organization fosters an environment of professionalism and has a workforceof over 32,000 employees