Lanco Industries has reported a profit after tax (PAT) of ₹38.70 crore for FY 2013-14. The profit before tax for FY 2013-14 stood at ₹41.42 crore as against a loss of ₹21.33 crore in FY 2012-13.
According to an official statement, the company registered a turnover of ₹1,037 crore for the year ended March 31, 2014, the first time its turnover has crossed the ₹1,000-crore mark. The company had reported a turnover of ₹897.62 crore in FY 2012-13.
It registered net sales of ₹247.59 crore and a PBT of ₹16.61 crore for the quarter ended March 31, 2014, as against net sales of ₹232.85 crore and a PBT of ₹14.13 crore for the quarter ended March 31, 2013.
The EBITDA margin of the company stands increased at 12.56 per cent in FY 2013-14 vs. 7.09% in FY 2012-13.
Board recommends ₹1.50 per share
The board at its meeting held on May 3, 2014, has recommended a dividend of ₹1.50 per share.
G S Rathi, Director, said the company has a comfortable order booking position for the current year. It plans a capital expenditure of ₹100 crore to improve the quality and production level of ductile iron pipes, the statement said. This investment will also enable the company to enter the export market. The project is funded by term loans and internal accruals.
He added that the availability of iron ore in Karnataka is expected to improve following the recent Supreme Court judgment.
He said barring unforeseen circumstances, the benefits of higher production should accrue from the last quarter of the current financial year.