Orient Paper & Industries Limited   
  
 
 

  

Orient Paper declares increase in profits & 120% dividend for the year
New Delhi April 21, 08, Orient Paper and Industries Ltd on Monday declared the following, post its board meeting held in New Delhi.
Growth in turnover
Gross sales for the year increased by 18% to Rs. 1497 cr from Rs. 1265 cr last year.
Net sales increased to Rs. 1292 cr. from 1097 cr. last year

 
 
 
 
Segment wise break-up of net sales:
Cement - 57%
Paper - 21%
Electricals - 22%
 
Increased profits
Net profit before tax went up to Rs. 313 cr from Rs. 196 cr last year. 
Orient's cement business has recorded a PBIT of 43% of net sales and ranks as one of the most profitable in the Indian cement industry. 
Paper and fan divisions have recorded best ever profitability and rank amongst the best in their respective industry segments.
 
Net profit after tax and EPS
Net profit after tax increased to Rs. 204.4 cr from Rs. 130.7 cr last year recording an increase of close to 66% over last year.
This translates to an EPS of Rs. 11.9 compared to Rs.8.2 per share last year. 120% dividend declared Orient had already paid an interim dividend of 50% during the year. The Board has recommended a final dividend of 70%, bringing the total dividend to 120% for the year. This will be applicable to the expanded capital after issue of rights shares. Last year the Company had paid dividend of 100%.
1 million ton additional capacity completed on schedule
Orient expanded its cement capacity by 1 million tons. This brings its capacity to 3.4 million tons per year.
 
Future expansions on track:
The next phase of cement expansion to 5 million ton is expected to be completed on schedule before end of F.Y. 09.
The new 50 MW captive power plant at Devapur, which will further improve the cement division's profitability, is expected to be completed during F.Y. 09. 
Orient continues to maintain its leadership position in the Tissue paper segment. Expansion of Tissue paper capacity is expected to be completed in 08-09.
In its electrical division, Orient has diversified into the fast growing CFL and other energy saving lighting products. CFLs have been launched in select markets in Northern India.
   
 

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