BWI: Pudumjee Pulp & Paper Mills Ltd Reported a 204 per cent Increase in Profit After Tax (PAT) to Rs 11.02 crore in FY 2010

Press release from Business Wire India
Source: Pudumjee Pulp & Paper Mills Ltd.
Thursday, May 20, 2010 04:01 PM IST (10:31 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 Pulp & Paper Mills Ltd Reported a 204 per cent Increase in Profit After Tax (PAT) to Rs 11.02 crore in FY 2010


Mumbai, Maharashtra, India, Thursday, May 20, 2010 -- (Business Wire India) -- -- FY 2010 PBT increases 181 per cent to Rs 16.18 crore
-- EBITDA increases 42 per cent to Rs 28.25 crore
-- Increases dividend to 15 per cent in FY2010
-- Increases sales of paper and realization per tonne in FY2010

Pudumjee Pulp & Paper Mills Ltd, India's leading paper manufacturer for specialty papers, today announced its audited financial and operating results for FY 2010.

Riding on the back of increased sales of paper and higher realization per tonne, Pudumjee Pulp & Paper Mills Ltd has reported a 204 per cent increase in Profit After Tax (PAT) to Rs 11.02 crore in FY 2010 (Rs 3.62 crore in FY 2009). PBT in FY 2010 increased 181 per cent to Rs 16.18 crore in FY 2010 (Rs 5.75 crore in FY 2009) AND EBITDA increased 42 per cent to Rs 28.25 crore in FY 2010 (Rs 19.82 crore in FY 2009).

Overall sales decreased marginally from Rs 229.29 crores in FY 2009 to Rs 227.41 crores in FY2010, though sales of paper increased from Rs 200.78 crore to Rs 221.92 crore; increase of 10.52 per cent.

The company's EPS is Rs 2.69 per share with a book value of Rs 30.60 per share (face value Rs 2 per share).

The company has increased its dividend to 15 per cent in FY2010 as compared to 12.5 per cent in FY2009

Key performance highlights
. Paper revenues increase from Rs 200.78 crore to Rs 221.92 crore; increase of 10.52 per cent.
. Increase in paper sales from 33,059 tons in FY2009 to 36126 tonnes in FY2010
. Increase in realisation per tonne from Rs 55,553 (FY2009) to Rs 57,050 per tonne (FY2010) due to change in product mix and presence in high value specialty papers.

. EBITDA from paper showed a significant increase from Rs 19.82 crore to Rs 28.25 crore; increase of 36 per cent with increased realisation and lower input costs.

. 124 apartments (66 per cent of flats in Phase I) in the real estate project in Pune sold during the year. Total project size of 930,000 square feet in three phases with total expected realisation of Rs 300 crores.

Pudumjee Pulp & Paper Mills Ltd

Pudumjee Pulp & Paper Mills Limited is India's leading manufacturer of Specialty Papers and is the flagship Company of the M.P.Jatia Group of Companies.

Beginning with manufacture of India`s first indigenous Greaseproof and Glassine papers for packaging for the first time in India, PUDUMJEE went on to extend range of papers to include Security Papers such as MICR Paper, Sensitized Paper, Postal Stamp, Impressed Stamp, Passport and Excise Banderoll, Laminating Base, Silicone base paper, Wax Match paper, Packaging Papers of various kinds and types, Tissue Papers, etc. catering to wide range of industrial applications specially manufactured to meet customers specific requirements.

The Company which has its plant and registered office at Thergaon, Pune(India). The company`s equity shares are listed at Pune, Mumbai and National Stock Exchanges.

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 Pulp & Paper Mills Ltd 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 financial results, please click on the links given below:

Financial Result

Financial Results
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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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