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Kanoria Chemicals & Industries Ltd has reported a standalone net profit of ₹21.30 core in 2015-16 against ₹15.29 crore. Its board has recommended dividend of 30 per cent or ₹1.50 for a share of ₹5 each for the year ended on March 31. It has fixed its annual general meeting on September 1. The Board designated NK Nolkha, Chief Financial Officer of the company, as Group Chief Financial Officer with effect from May 27.
The company, however, posted a net loss on consolidated basis. It has a number of domestic and foreign subsidiaries in separate business fields. Of the overseas subsidiaries, wholly owned APAG Holdings AG made a net loss of ₹24.87 crore in 2015-16. The automotive and industrial engineering company, in the last few years, spread its designing and manufacturing capabilities in Switzerland, Germany and Czechoslovak Republic through acquisitions. Domestic subsidiary Pipri Ltd posted a net profit of ₹1.02 crore.
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