Lanco Industries “has come back to dividend paying track” as the board has recommended a dividend of ₹1.50 a share, says a press release from the company.
The come-back to dividends has been made possible by two other milestone features of 2013-14.
First, the company’s turnover crossed the ₹1,000-crore mark for the first-time ever, touching ₹1,037 crore, compared with ₹897.62 crore in the previous year.
Second, the company’s pre-tax profits amounted to ₹41.42 crore from a loss of ₹23.33 crore previously.
Lanco intends to invest ₹100 crore in raising the capacity of ductile iron pipes, GS Rathi, Director, said in the press release.