Tata Metaliks’ topline at Rs.1000+ Crores
Tata Metaliks’ turnover for the 2007-08 financial year has clocked Rs.1185.47 Crores, a 51.64% hike over its turnover of Rs.781.75 Crores during 2006-07. Profit Before Tax (PBT) during 2007-08 is Rs.106.30 Crores, up from Rs.42.17 Crores, recording a 152% jump. Profit After Tax (PAT) has clocked Rs.69.62 Crores, up by 136% from last year’s figure of Rs.29.51 Crores.
TML achieved an annual production of 545,501 tons of hot metal and the total despatch of pig iron for the year April 2007 – March 2008 was 516044 tons, an increase in each of the areas by 24% and 16% respectively, over the corresponding figures for the year 2006–2007, which were 441,280 tons and 444,953 tons respectively. Sustained levels of high performance both at the Kharagpur and the Redi plants of the Company helped the Company reach high levels of production. The third blast furnace at Redi started functioning from June 2007.
The Board of Directors, at its meeting held on 26th April 2008, has recommended a dividend @ 70% for declaration at the Eighteenth Annual General Meeting of the Company to be held on 16th July 2008.
During the 07-08 fiscal, Tata Metaliks had entered into a joint venture with M/s Kubota Corporation of Japan (world leader in DI pipe manufacturing), for manufacturing of Ductile Iron (DI) Pipes. The other Japanese partner in this joint venture is M/s Metal One Corporation, Japan. This world-class DI Pipe manufacturing facility at Kharagpur is expected to be operational by early 2009. |
