Universal Cables posts best ever performance in 06-07

Kolkata, May 23 (UNI) Universal Cables Limited, a M P Birla Group company with interests in Power Cables, Capacitors and Optic Fibre, has recorded a surge in PBDT by 30 per cent, from Rs 3,264 lakh to Rs 4,221 lakh.

With continued upswing in the power sector, fuelled by strong demand for its quality products, the Company continued its streak of profit making and reported 27 per cent increase in gross revenue to Rs 44,033 lakh in 2006-07 from Rs 34,747 lakh the previous year.

The EPS also jumped by 33 per cent to Rs 9.50 from Rs 7.16. On the back of strong financials, the Board of the company recommended a Dividend of 24 per cent.

Chairman R S Lodha said, ''the impressive performace by the company is an outcome of the focussed and customer-centric approach, aggressive marketing strategy, higher capacity utilisation and increased realisation from better product-mix.'' Strengthening of operational efficiencies at all levels, for which the company was striving hard for quite some time, has resulted in both revenues and profits, surpassing all the respective previous levels.

The commissioning of the prestigious Technological Upgradation-cum -Expansion Project with state-of-the art Vertical Continuous Vulcanization (VCV) Technology for the manufacure of XLPE Power Cables during FY 2006-07, according to Lodha, has unveiled a new roadmap for the Company to enter the 220 KV and 400 KV power Cable market for the first time in India further, with the ongoing technology transfer under the technical Assistance Agreement with the world renowned Furukawa Electric Co. Ltd, Japan.

The Company is now in a better position to provide its customers with the complete solution package in Extra High Voltage (EHV) Underground Power Transmission System, involving design, manufacture, cable joining and installation.

Mr Lodha further stated that the Optic Fibre Goa Unit of the company, which was amalgamated with the company last year, had shown impressive turnaround in performance during the year. The sales volume showed an increase of more than 60 per cent compared to the previous year.

The expansion Project was progressing as per schedule and is slated to be operational by end-June this year, Mr Lodha said. With this, the capacity of Optic Fibre would be 1.5 million Fibre KMs which is three times the existing capacity.

To further improve operational efficiency, create a better customer oriented approach and reduce response time the Company is implementing SAP, the most acclaimed Enterprise Resource Planning (ERP) package, which is likely to go live within a few months, Mr Lodha said.

UNI