REI Agro Ltd Posts Impressive Performance

New Delhi, Delhi, India

Performance Highlights:

-- Income from operations increases 31.32 % to Rs 309.16 crs

-- EBIDTA up by 62.70 % to Rs 74.42 crs

-- PAT up by 60 % to Rs 31.08 crs

-- Basic EPS at Rs 6.68

REI Agro Ltd , one of India's fastest growing business houses with interests in Basmati Rice, Power and Retail, today announced its first quarter results for the period April - June 2007.

During the quarter, the company announced an increase of 31.32% in its Net Income at Rs 309.16 crs as compared to Rs 235.42 crs in the corresponding quarter last year. EBIDTA for the period stood at Rs 74.42 crs registering an increase of 62.70 % as against Rs 45.74 crs in the corresponding quarter. PAT showed an increase of 60 % at Rs 31.08 crs as against Rs 19.35 crs in the previous quarter. The EPS (basic) for the period stood at Rs 6.68 as against Rs 4.86 in the corresponding quarter.

Commenting on the performance, Mr Sandip Jhunjhunwala , Vice Chairman and Managing Director, REI Agro Ltd , said, " We have witnessed a very successful beginning in the new financial year. During the quarter all our verticals enjoyed impressive growth rates. While rice and power verticals have registered good growth during the quarter, we have also successfully launched 30 retail 6Ten stores in the National Capital Region. We are confident of building on the momentum achieved and enhancing value of all our stakeholders."

The company had recently announced the demerger of its flagship company. This move besides creating shareholder value will bring increased focus and thrust into the verticals through independent capital raising ability, increased revenues, better operating margins and quick scalability.

About REI Agro Ltd:

REI Agro is India's leading producer and exporter of basmati rice. The Rs 1000 cr. company is an integrated player and undertakes right from contract farming to procuring paddy to drying, de-husking, milling and polishing, colour sorting, grading, inspection, packing, branding, distribution and retailing. REI comprises of, few biggest brands in its category like Mr Miller, Real Magic, Kasauti, Rain Drop, Ikon. REI has one of the largest distribution network in India. Adding to the above landmark achievements, the company has also been recognized as a One-Star export house by the Ministry of Commerce. The company has also forayed into power and retail. In power the company has a installed base of 35.9 MW in Maharashtra, Tamil Nadu and Rajasthan with additional capacities in the pipeline. The company owns and operates a chain of convenience stores in the NCR region branded as 6Ten and is in expansion mode.

To view the press release along with the tables and unaudited financial results, please click on the links given below:

Press release

Unaudited financial results

Source: REI AGRO LIMITED (Business Wire India)

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