Hindustan Sanitaryware recommends 65 pc dividend

Mumbai, May 16 (UNI) Hindustan Sanitaryware and Industries, market leader in the sanitaryware and the glass container segments, today recommended 65 per cent dividend for the year ended March 2006.

The Company''s profit before tax increased 14.6 per cent to Rs 13.57 crore for the fourth quarter ended March 31, 2006, from Rs 11.84 crore in the same period last year.

The Company's gross sales hiked 21.4 per cent to Rs 134.70 crore for the fourth quarter from Rs 110.96 crore in the corresponding period last year. The gross sales increased by 32.2 per cent to Rs 438.32 crore for the year ended March 2006 from Rs 331.55 crore last year.

Profit before Tax increased 39.5 per cent to Rs 40.40 crore for the financial year ended March 2006 from Rs 28.97 crore in the last year.

Earning per Share increased 35.6 per cent to Rs 5.52 from Rs 4.07.

In a statement here today, joint managing director Sandip Somany said the Company had achieved record results for the year 2005-06.

''We increased gross sales resulting from 38 per cent increase in Building Products Division and 27 per cent increase in Glass Division. We also experienced expansion in margins on expanded sales platform. We are very bullish on the growth prospects of the Building Products Division resulting from all around growth in the construction and infrastructure sector,'' he added.

UNI AR MAZ SKB1848