New Delhi, Delhi, India
Prakash Industries Ltd, a business house with interests in steel & power announced its financial results for period Q4 2008 & FY 2007-08. During the year the company showed impressive results.
Net sales/ Income from operations have increased by 35 %, to Rs.1419.74 crores as against Rs.1048.40 crores reported in the last year. EBIDTA increased by 50 % to Rs. 304.05crs in the current year as against Rs. 202.55 crs last year. PAT was up by 96 %, at Rs. 211.87 crs as against Rs. 108.34 crs while the Earning per share (EPS) has gone up by 92.26 % to Rs 19.13 as compared to Rs 9.95
Prakash Industries has acquired coal blocks in the state of Chhattisgarh for company's captive use. The Coal block has been allotted for the expansion of capacities in the power plant of the Company to the extent of 625 MW.
The integrated steel plant of the company is located in Chhattisgarh with state of the art technology equipments. PRAKSH Industries has planned to double its steel making capacity in the coming years.
The power generation business of the company uses waste hot gases from the rotary kilns manufacturing Sponge Iron and is the first in the country to use this eco friendly concept.
Company has also planned Mega Power projects in the state of Chhattisgarh and MP for which MOU has already been signed with State Governments
About Prakash Industries:
Prakash Industries Ltd (PIL) is a 27 year old company focused steel, power and mining. The company has the one of the largest integrated steel plant(set up in technical collaboration with Lurgi Germany) through coal based sponge iron route. PIL is the largest manufacturer of heavy and medium structural in the country along with being the largest manufacturer of value added products like wire rod among the private sector.
The company is the first one to set power plant using waste heat generated in the sponge iron process.
To view the Unaudited financial results, please click on the link given below:
Unaudited financial results
Source: Prakash Industries Ltd (Business Wire India)
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