New Delhi, Delhi, India
Highlights:
-- Announces Bonus issue in the ratio of 1:1
-- Profit After Tax grows 51% to Rs.8.01 Crores for the 4th quarter ended 31st March 06
-- Income from operations rises by 69% to Rs.84.58 Crores for the 4th quarter ended 31st March 06
-- 46% growth in Income from operations at Rs 263.03 crores for FY 2005-06 from Rs.179.56 Crore for the FY 2004-05
-- Profit After Tax grows by 73% to Rs. 24.46 Crores for the FY 2005-06
-- Announces decision for setting up of a new subsidiary to take up Retail operations
Q4 FY2006 v/s Q4 FY2005
The Income from operations of the company was at Rs.84.58 Crores from Rs.50.05 Crores, higher by about 69% over the corresponding quarter. Net profit for the Q4FY2006 was at Rs 8.01 Crores, up 51% from Rs.5.32 Crores of the corresponding quarter. The EPS (Diluted) for the quarter was at Rs.4.77, computed after taking into account issue of 53,82,750 underlying equity shares for GDR issue made on March 31, 2006 and 5,00,000 outstanding warrants.
FY2006 v/s FY2005
The company recorded a 46% growth in its income from operations of Rs.263.03 Crores for the FY 2006 as against Rs.179.56 Crores reported in the FY2005. Net profit for the FY2006 was at Rs24.46 Crores, up 73% from Rs.14.14 Crores of the previous year. The EPS (Diluted) for the FY 2005-06 was Rs.14.60
Reflecting on the performance, Mr. Sandeep Agarwal, Managing Director, Alps Industries Ltd., said, "We will continue our efforts to develop and provide world class interior infrastructure products that add value to our customers.
He further added "In order to reinforce the market reach so as to fully capture the emerging opportunities and to reach the customers directly for improved responsiveness to changing customer preferences, we are setting up a new subsidiary to take up retail operations."
Company also announced the Bonus issue in the ratio of 1:1 for all shareholders including the GDR holders as well as eligible Zero Coupon Convertible Warrants holders i.e. one additional equity share for every one existing share held by the members/warrant holders by capitalising the part of the general reserve. The bonus issue is subject to approval of the shareholders at the forthcoming Extra Ordinary General Meeting.
About Alps Industries Limited
Alps Industries Limited, established in 1962, today is the leading manufacturer of Yarns, Home Furnishings, Natural Dyes, window coverings, floorings, wall claddings and Fashion Accessories which are well appreciated all across the globe. The company is directly benefiting from the infrastructural and construction boom in the country as it performs in the interior infrastructure segment. Its products decorate and furnish the constructed spaces to make them liveable. Its products are marketed under the brand name "Vista" and "Le Pashmina", both having the highest brand recall in their respective categories in the domestic market. The company has a nation-wide Distribution network.
The strength of the company lies in its brand recognition, customer relationships and distribution network, as well as the pioneering research work done in the area of natural dyes for textiles. Incidentally, its research facilities are recognized by the Department of Science & Technology, Government of India, and its Sahibabad facilities enjoy ISO14000 certification for being environment friendly. Its units in Uttaranchal enjoy cheaper power and significant tax benefits.
Siddhartha Upadhyay, Mutual PR, +919350852560 supadhyay@mutualpr.com
Anand Mahesh, Mutual PR, +919350266285 amahesh@mutualpr.com
Source: Alps Industries Ltd. (Business Wire India)
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