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V-Guard registers 19% rise in profit

Kochi: The Board of Directors of V-Guard Industries Limited has considered and adopted the audited financial results of the company for the year ended March 31, 2009.

The net sales of the company for the year was Rs.31,677.67 lakh as compared to Rs.27,811 lakh for the previous fiscal, registering a growth of 13.90 per cent.

The profit after tax was Rs.1,734.65 lakh, an increase of 18.66 per cent.

Considering the positive results, the board has recommended a final dividend of Rs.2.50 per equity share of the company, subject to the approval of the shareholders.

The company has commissioned two manufacturing facilities in the fiscal 2008-09, for the manufacture of LT Power cables at Coimbatore and that of Building Wire Cables at Kashipur.

Mithun K. Chittilappilly, Executive Director, said “the main focus is to enhance our market share in all our products categories.

We will further augment our national presence, with our expanded branch and distribution network," according to Mr. Chittilappilly.

The company, which came out with its maiden public issue in February 2008, has completed four of its initial public offer projects, thereby utilizing 82 per cent of the total issue proceeds.

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V-Guard registers 19% rise in profit

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