V-Guard declares 25 per cent dividend

Kochi, July 14 (UNI) V-Guard Industries, leading electronic and electrical equipment manufacturer, today declared a dividend of 25 per cent for 2007-08 at its annual general meeting (AGM) here.

The dividend was on enhanced capital base of Rs 298.48 million and would result in a payout of Rs 74.62 million. The dividend was in addition to the Interim Dividend of 40 per cent paid during the month of August, 2007, according to a release here today. As per the audited financial results for the year ending March 31, 2008, adopted at the meeting, the company posted a profit after tax of Rs 374.23 million for the year as against Rs 182.39 million in the previous year.

Earnings per share increased to Rs 16.70 (After Exceptional Item) from Rs 8.68 for the previous year, an YoY growth of 92.39 per cent.

During the year, the company had opened 11 new branches, taking the total branch network, including factories, in India to 24.

The new factories of the company -- building cable unit at Uttarakhand and L T Power cable manufacturing unit at Coimbatore were fast progressing.

Company Managing Director Kochouseph Chittilappilly said both these factories were expected to start production during the third quarter of the current financial year.

The pilot production centre for pumps at Coimbatore and distribution-cum-service centre at Bangalore were already completed, he added.

The company's equity shares were listed both in Bombay Stock Exchange and National Stock Exchange.

UNI MA SJ 1914