Ruchi Soya Q4 FY 06 net sales up 55.77 per cent

Mumbai, Apr 28 (UNI) Ruchi Soya Industries Limited's profit after tax (PAT) surged impressively by 53.50 per cent at Rs.13.60 crore in Q4 FY 06 as against Rs.8.86 crore during the same period last fiscal while its net sales zoomed 55.77 per cent at Rs 1,958.27 crore as compared to Rs.1,257.18 crore in the corresponding period last fiscal.

A release issued here today stated that FY 06 net sales rose by 26.27 per cent to Rs 4,952.58 crore as compared to Rs 3,922.06 crore in FY 05, while PAT for the year moved northward by 27.99 per cent to Rs 55.79 crore as compared to Rs 43.59 crore during the same period the last year.

The company's export turnover shot up substantially by 109 per cent to Rs 871-crores as compared to Rs 417-crores for the previous year.

The release pointed out that the higher growth in profit is a result of improvement in manufacturing turnover over trading turnover. For the quarter, the ratio of manufacturing to trading improved to 60:40 from 48:52 for corresponding quarter of the previous year while for the full year, the turnover from manufacturing to trading improved to 67:33 from 54:46 in FY 05.

During the year, the company's crushing capacity utilisation increased from 5,01,909 MT to 8,60,048 MT while the refining capacity utilization has increased from 3,52,504 MT to 5,828,67 MT.

During Q4 FY 06, the company raised USD 60 million through a GDR consisting of 8.874 million GDRs with each GDR representing one underlying share in the company and priced at Rs 300 per share.

Following this issuance the equity capital of the company got enhanced to Rs 29.92 crore from Rs 21.05 crore with the equity holdings of FIIs {including GDR issue} in the company standing at 36.97 per cent in FY 06.

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