Gravita Group registered growth in net revenue by 29% in FY 2013-14

JAIPUR, India - June 11, 2014 - PRLog -- Gravita reports Standalone and Consolidated audited results for the year ended 31st March 2014

Highest ever annual sales of Lead and Lead products in FY’14
Net Revenue of the Group for the FY 14 registered a growth of 29% at Rs 51717.96 Lacs. Company focusing on horizontal as well as vertical expansions during the FY 2014-15

Gravita India Limited declared its Consolidated and Standalone Financial Results for the financial year and fourth quarter ended 31st March 2014. There was a marked improvement in profitability as the Group net profits for the fourth quarter ended 31st March 2014 rose to Rs 902.64 Lacs from Rs 834.06 lacs in the previous quarter. Similarly for the full year ended 31st March 2014 the underlying Net Profit came at Rs 2132.17 Lacs compared to the underlying Net Profit of Rs 1903.56 Lacs for the year ended 31st March 2013. The improved and steady performance across geographies, despite weak market conditions and rising dollar, led to this improved group performance.

On standalone basis the Company’s Net revenue stood at Rs 33827.35 Lacs registering an ambitious growth of 32% over the Net revenue earned during the previous year. However, the Net profit for the year stood at Rs 1488.59 Lacs against Rs 1797.88 Lacs of previous year.

The Board of Directors of the Company at their meeting held on 29th  May 2014 recommended a final dividend of Rs 0.50 per shares (@25%). During the year 2013-14 the Company had already declared a dividend of 15% making the total dividend outflow for the year @40%.

See financial results at http://www.gravitaindia.com

Disclaimer:

Statements in this press release describing the Group’s Performance may be ‘forward looking statements’ within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Group’s operations include, among others, economic conditions affecting supply and price conditions in the domestic and overseas markets in which the Group operates.