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Goodlass Nerolac Net up 59% and Payout up by 55%

Published on 2005-05-03. Author : SpecialChem

Mumbai, India -- Goodlass Nerolac Paints Limited (BSE Code: 500165) (NSE Code: GOODLASNER), one of the largest manufacturers of paints, announced their results for the quarter and fiscal year ended March 2005.

Highlights:

  • Total revenues for the quarter ended March 2005 were Rs.244.65 crores, an increase of 10.7% over the same quarter last year. Total revenues for the year ended March 2005 were Rs. 1069.02 crores, an increase of 15.6% as compared to same period last year This growth in revenues was on the back of good business in the automobile coatings & complemented by architectural
  • Profit before depreciation, interest & Tax increased by 27.8% for the quarter and 41.6% for the year
  • Net Profit for the quarter ended March 2005 was up by 41.9% and for the year ended March 05, up by 58.7%
  • The Board has recommended a dividend of 115% on the enhanced capital compared to 125% of the previous year
  • Business Today - A. T. Kearney Survey named Goodlass Nerolac Paints the Best Managed Company. Also certified with OHSAS 18001 for the Jainpur and Lote plants. Also conferred with numerous Best Vendor awards through the year

Said Mr. Bharuka, MD Goodlass Nerolac Paints Limited, post the announcement of the Annual Financial Results "Goodlass Nerolac with its consistent increase in the stock valuations is indicative of the fact that the investors endorse our strategies and we are on the right path. Fueled by focused branding & distribution strategy with increasing investments in R&D, almost similar to previous year, the Auto segment has amply boosted the topline growth of the company, which has been fairly complimented by the Architectural segment too. The right-mix of products, Manufacturing excellence initiatives, R&D efforts and other operational efficiency measures have resulted into good growth in bottom line.

With the capacity expansion of the Jainpur facility and commercial production commissioned at the Greenfield project at Bawal, we are looking ahead at another year, which will have us performing to industry standards and meeting customer needs."

About Goodlass Nerolac Paints

Goodlass Nerolac Paints has been at the forefront of paint manufacturing for more than 84 years pioneering a wide spectrum of quality paints. Goodlass Nerolac is the second largest paint company in India and undisputed leader in Industrial segment, having a turnover of 1069 crore. The company has five strategically located manufacturing units all over India and a strong dealer network of over 11500 dealers across the country. The company manufactures a diversified range of products ranging from architectural coatings for homes, offices, hospitals, and hotels to sophisticated industrial coatings for most of the industries.

Source: Goodlass Nerolac Paints


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