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[June 2009]
Somany Ceramics Annual Profit Jumps By 114.7%
Somany Ceramics Ltd – the tile and sanitaryware manufacturer with plants in Gujarat and Haryana in India – has announced its annual audited financial results for fiscal 2008-09. The company has recorded a huge jump of 114.7% in its PAT to Rs 8.74 crores from Rs 4.07 crores in the financial year 2007-08.
The Profit Before Tax (PBT) also recorded an increase of 80%, rising to Rs 13.47 crores from Rs 7.48 crores in the same period last year. The company reported net sales of Rs 442.09 crores over that of Rs 329.36 crores for last year, achieving an increase of 34.2%.
Commenting on the company’s annual financial performance, Shreekant Somany, Chairman & Managing Director, said: "Our current financial results indicate a strong performance even during the economic slowdown. It is the result of our commitment towards setting new standards in design, style, technology and quality of innovative products.
“This has been an exciting year for Somany to have achieved yet another year of impressive performance and also for becoming the first Indian ceramic tile company to receive patent rights for its VC Shield technology for a period of twenty years. Going forward, we will continue to expand and diversify to achieve growth to the tune of 25% in the next year.”
ENDS