Financial Daily from THE HINDU group of publications
Monday, May 01, 2006
Financial Daily from THE HINDU group of publications Monday, May 01, 2006 |
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Corporate Results
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Abrasives Carborundum Universal's net doubles Our Bureau
Chennai , April 29 Carborundum Universal's net profit for 2005-06 has doubled to Rs 77 crore over the previous year. The company's turnover increased to Rs 378 crore from Rs 323 crore the previous year. The board of directors has recommended a final dividend of Rs 1.20 for each share of Rs 2 face value, or 60 per cent. Earlier, the company had declared a special interim dividend of 120 per cent. A press release from the company said that demand from major user industries such as auto OE and ancillaries, construction, ceramics and power "continued to remain strong". During the year, the company completed its first international acquisition, taking over a Canada-based abrasives distributor in February. The new abrasives facility being set up in Sriperumbudur near Chennai is nearing completion, the release said . "Once commissioned, the new plant would give the company an edge in the international arena," it said.
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