BWI: Pudumjee Industries FY 2010 PAT at Rs 230 Lakhs

Press release from Business Wire India
Source: Pudumjee Industries Ltd
Thursday, May 20, 2010 03:23 PM IST (09:53 AM GMT)
Editors: General: Economy; Business: Banking & financial services, Business services, Financial Analyst, Household & personal care products & services, Retailers, Stock exchanges
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Pudumjee Industries FY 2010 PAT at Rs 230 Lakhs


Mumbai, Maharashtra, India, Thursday, May 20, 2010 -- (Business Wire India) -- . Back to the black after four years
. Announces 10 per cent dividend after nine years
. EBITDA increases 271 per cent to Rs 449 lakhs

Pudumjee Industries increases production capacity from 18,500 tonnes to 22,500 tonnes at its Pune facility at cost of Rs 1193 lakhs Plans aggressive penetration into retail market for hygiene products.

Pudumjee Industries Ltd, India's leading tissue paper manufacturer, today announced its audited financial and operating results for FY 2010.

In a significant turnaround, the company has reported a profit after tax of Rs 230 lakhs for the year and has come back to the black after four years. EBITDA for the year increased by 271 per cent to Rs 449 lakhs (Rs 121 lakhs in FY 2009).

The company has declared a dividend of 10 per cent for the first time in nine years.

The company's EPS is Rs 1.28 per share with a book value of Rs 16.28 per share (face value: Rs 2 per share)

The company registered an increase in net profit, despite a decline in sales from Rs 15531 lakhs (FY 2009) to Rs 13525 lakhs in FY 2010.

Key performance drivers in turnaround

. Hygiene Products sales increase from Rs 5268 lakhs in FY2010 to Rs 6351 lakhs in FY 2009. Generate profits of Rs 54 lakhs in FY2010 from loss of Rs 313 lakhs in FY2009. Increased sales of higher margin FMCG products as a part of Hygiene product segment from 55 per cent to 60 per cent this year.

. Restart of Paper Machine after 8 months of shutdown due to rebuilding
. Lower cost of inputs and improvement of operational efficiency

Key initiatives

. Pudumjee Industries is currently operating at 100 per cent capacity and has increased production capacity from 18,500 tonnes to 22,500 tonnes at its Pune facility at a cost of Rs 11.93 crores to meet its growth plans for the year.
o Market for tissue paper growing @ 20% YOY
o Sale for hygiene products set to increase due to plans to increase penetration in retail segment and launching new products this year

Pudumjee Industries Ltd

Pudumjee Industries Limited (PIL) is one of India's leading paper manufacturers for various types of papers such as Crepe Tissue, M.G. Kraft, Carbon based tissue, Poster papers, etc. and is a member of the M.P. Jatia Group of Companies, which group includes, amongst others, Pudumjee Pulp & Paper Mills Limited.

The Company has its Paper Manufacturing Plant and Registered Office at Thergaon, Pune (India). The Company`s equity shares are listed at Bombay Stock Exchange Ltd & National Stock Exchange of India Ltd.

Disclaimer:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of strategic initiatives, potential product characteristics, uses and sales potential are forward-looking statements and are subject to risks and uncertainties that could cause actual results to differ materially. Pudumjee Industries may, from time to time, make additional written and / or oral forward looking statements, including statements contained in the Company's filings with the regulatory bodies and our reports to shareholders. The Company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

To view the Audited Financial Results, please click on the link given below:

Audited Financial Results
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Result.pdf
Result.pdf


CONTACT DETAILS
Tayyab Imadi, Sampark PR, +91 9967212492, tayyab.imadi@gmail.com

KEYWORDS
ECONOMY, BANKING, BUSINESS SERVICES, Financial Analyst, HOUSEHOLD, RETAIL, STOCK EXCHANGES

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