Kemrock Industries clocks Q3FY11 sales of Rs. 229.3 crore; Net profit at Rs. 20.4 crore
-- Kemrock Industries and Exports Ltd. (KIEL), one of the leading manufacturers of reinforced polymer (FRP) composites, today announced results for the quarter ended March 31, 2011.
It may be noted that during the previous year (FY10), the Company had changed its financial year period from March 31, 2010 end to June 30, 2010 end; thereby declaring results for 15 months during FY10 (April 2009 to June 2010).
Q3FY11 Performance
- Net sales increased by 60% to Rs. 229.3 crore from Rs. 143.4 crore during the corresponding quarter previous year
- Net profit was up 73% to Rs. 20.4 crore from Rs. 11.8 crore during the corresponding quarter previous year
- EBITDA increased 126% to Rs. 67.9 crore from Rs. 30.0 crore in the corresponding quarter previous year
- On an equity capital of Rs. 16.8 crore, the fully diluted Earnings per share (EPS) stood at Rs. 11.7
9MFY11 Performance
- Net sales of Rs. 607.5 crore
- Net profit of Rs. 49.4 crore
- EBITDA of Rs. 169.9 crore
- On an equity capital of Rs. 16.8 crore, the fully diluted Earnings per share (EPS) stood at Rs. 28.3
Management Comment
Commenting on the results, Mr Kalpesh Patel, MD, KIEL, said "The numbers clocked by the Company and the recent spate of developments are a testimony to our efforts to grow and adapt to the needs of a dynamic business environment. The results truly reflect our leadership position in the fast growing Indian composite market. With composites finding increasing application across industries, we have carved a place for ourselves in this niche segment."
Notes to Editor
About Kemrock Industries and Exports Ltd.
Headquartered in Vadodara, Kemrock Industries and Exports Ltd., is India's leading producer of FRP/GRP composites, offering a fully integrated range of raw materials and engineered composites products. Established in 1981 as a small start-up and incorporated in 1991, the company offers world-class integrated solutions - from design to delivery - in its state-of-the-art manufacturing unit at Vadodara, which houses most of the processes at a single location. The company provides the largest portfolio of composite products and delivers both ready and customised solutions, which are ideal replacements for traditional materials prone to corrosion & maintenance. The company's product range includes Thermo-setting Resins & Composite Products such as Windmill Blade, Rail Coach Interiors & Exteriors, Cable Management Systems, Pultruded profiles, Gratings, Piping Systems, Lighting Poles, Access Systems and now Carbon Fibre.