Berger Paints has reported a profit after tax of Rs 92 crore on sales of Rs 1,522 crore for the year to March 31, 2008, against a PAT of Rs 83 crore on sales of Rs 1,322 crore in the previous year.
It said the 15% rise in sales has made it the second-largest paint maker in India by sales.
For the year, profit before tax was Rs 119 crore compared with Rs 102 crore in 2006-07. Consolidated sales in 2007-08 rose to Rs 1,586 crore from Rs 1,384 crore in 2006-07.
Berger said it was able to deliver “steady topline growth” despite the lower GDP growth and slowdown in the automotive sector.
The board has recommended a dividend of 25% per share, considering the costs of its expansion.
Berger has expanded its solvent plant at Goa to 62,000 tonne per annum and the facility is to be commissioned soon. The Jammu powder plant has also been expanded.
In West Bengal, it has begun work on expanding its capacity for manufacturing water-based paints and resins at the plant in Rishra, and is setting up a resin plant in Goa.
At Pune, it is setting up a plant to make automobile paints. In Gujarat, its subsidiary Beepee Coatings Pvt Ltd is expanding its capacity.
ITC bags TERI award
ITC Ltd has been awarded at the TERI Corporate award for Social Responsibility 2008 in recognition of its exemplary initiatives in implementing integrated watershed development programmes across seven states, providing precious water resources for agriculture, rural communities and livestock.
IWater conservation and management is a critical issue for Indian agriculture, with more than 50 % of arable land being drylands with severe moisture stress.ITC has entered into a partnership with Nabard in Andhra Pradesh, Bihar and Madhya Pradesh to work on soil and moisture conservation on 17,500 ha under a five-year programme.