Texmaco net soars 143%, turnover at Rs 937 crore

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Texmaco reported a 97% increase in turnover to Rs 937.18 crore for the year to March 31, 2008, as against Rs 476.13 crore recorded in the year-ago period.

Gross Profit (PBDT ) surged by 127% to Rs 109.58 (against Rs 48.37 crore) and profit before tax (PBT) by 133% to Rs 100.72 crore (against Rs 43.14 crore). Net profit rose sharply by 143% to Rs 69.09 crore in the period as against Rs 28.48 crore recorded in the corresponding period of the previous fiscal.

The company has maintained a compound annual growth of over 48% over the last five years. The current order book of Texmaco is over Rs 2,000 crore.

Texmaco has recommended a dividend of 75% on the equity capital of the company as against 40% declared in the last fiscal. The board of directors has approved to split the company's equity shares of Rs 10 each, into 10 shares of Re 1 each , subject to shareholders' approval.

The rolling stock division of the company was the best performer during the year. The wagon turnout was up by 45% to the Indian Railways and private operators.

Texmaco was awarded the highest ever order by the Railways in 2007-08. The company booked orders worth Rs 1100 crore for 6814 wagons.

Texmaco is progressively switching over from conventional to special purpose wagon manufacture. It delivered 325 stainless steel BOXNLW wagons to Indian Railways and a series of container freight rakes. The company is also diversifying in the area of manufacture of EMU coaches and loco components.

Ratnabali Capital PAT at Rs 18.18 crore