Ashapura Minchem Q4 profit up by Rs 18.93 cr; dividend at 75%

New Delhi, May 4 (UNI) Ashapura Minechem Ltd (AML), one of the leading mine exporters of the country, today reported a net profit of Rs 18.93 crore for the fourth quarter ended 31 March, 2006, as against Rs 2.74 crore in the same period last year.

The company recorded a whopping jump of 298 per cent in its net profit at Rs 54.53 crore for the financial year ending March 31, 2006 as against Rs 13.72 crore last fiscal.

AML's turnover this fiscal was Rs 682.34 crore, as compared to Rs 507.32 crore for the previous year.

The company has increased the dividend payable to 75 per cent for the year ended March 31, 2006 as against 40 per cent for the previous year.

Earning per share of the company was Rs 84.78 for the year 2005-06 as against Rs 21.49 in the previous year.

''The company which has embarked on a major growth path has yet again shown highly satisfactory results on all financial parameters.

Increasing demand for quality products from across the world, coupled with the growing demand for Ashapura's products in the domestic market were major contributors for this growth. The outlook for the company remains positive with more value added products adding to the company's product basket,'' AML MD Chetan Shah said.

Recently, Ashapura also forayed in the area of environmental products by setting up India's first Geosynthetic Clay Liners Plant.

The commercial production has already commenced and the company is focused on targeting the markets for various applications of the product.

AML, the flagship of the Ashapura Group, is the largest mine owner, processor and exporter of Bentonite in India and is the sixth largest producer and exporter of Bentonite in the world.

UNI MP RA PM1924