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Orient BoD to consider bonus issue on Nov 28

Written by: Staff

New Delhi, Nov 23 (UNI) Orient Ceramics and Industries Ltd today said its Board of Directors (BoD) will meet on November 28 to take on records an increase in its authorised capital and issue of bonus shares.

The tile manufacturer in a statement to the Bombay Stock Exchange (BSE) said its gross sales were likely to cross Rs 200 crore in the current fiscal.

It also expressed its proposal to list its shares on the National Stock Exchange (NSE).

Orient Ceramics and Industries Ltd reported a gross turnover of Rs 92.10 crore during the first half ending September 30, 2006, against Rs 64.99 crore during the corresponding period last year, registering a growth of 42 per cent.

Orient has a network of more than 600 primary retailers and 2,000 sub retailers across India.

Orient is in the midst of a major expansion plan to add manufacturing of 'Vitrified Tiles' in its Sikandrabad campus which will raise its capacity by more than 50 per cent from 27,000 sqm per day to 41,000 sqm per day.

The project is likely to commence commercial production by February next year.


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