Maithan Alloys Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year Ended and Consolidated Earnings Results for the Year Ended March 31, 2017; Announces Production Results for the Year Ended March 31, 2017; Recommends Dividend for the Financial Year 2017, Payable on and After August 16, 2017
May 09, 2017 at 06:15 am EDT
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Maithan Alloys Limited reported audited standalone earnings results for the fourth quarter and year ended and consolidated earnings results for the year ended March 31, 2017. For the quarter, on standalone basis, the company reported total income from operations (net) of INR 4,746.377 million compared to INR 5,216.447 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 1,388.381 million compared to INR 620.858 million a year ago. Profit from ordinary activities before tax was INR 1,385.043 million compared INR 541.577 million a year ago. Net profit from ordinary activity after tax was INR 1,024.059 million compared to INR 463.316 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 35.18 compared to INR 15.92 a year ago.
For the full year, on standalone basis, the company reported total income from operations (net) of INR 13,420.954 million compared to INR 11,507.952 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 2,511.727 million compared to INR 1,039.509 million a year ago. Profit from ordinary activities before tax was INR 2,622.755 million compared to INR 957.260 million a year ago. Net profit from ordinary activity after tax was INR 1,976.871 million compared to INR 790.304 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 67.91 compared to INR 27.15 a year ago. EBITDA was INR 2,760 million compared with INR 1,270 million a year ago. EBIT was INR 2,720 million compared with INR 1,080 million a year ago.
For the full year, on consolidated basis, the company reported total income from operations (net) of INR 13,420.954 million compared to INR 11,507.952 million a year ago. Profit from operations before other income, finance cost and exceptional items was INR 2,448.056 million compared to INR 1,038.969 million a year ago. Profit from ordinary activities before tax was INR 2,559.676 million compared to INR 957.274 million a year ago. Net profit from ordinary activity after tax was INR 1,913.772 million compared to INR 787.858 million a year ago. Basic and diluted earnings per share before and after extraordinary items were INR 65.77 compared to INR 27.09 a year ago. EBITDA was INR 2,730 million against INR 1,270 million a year ago. EBIT was INR 2,650 million compared with INR 1,080 million a year ago.
For the year, the company's rising production volume was 213,000 MT against 206,000 MT a year ago.
The company recommended a dividend of INR 2.50 per share (25%) for the financial year 2017. The dividend if approved at the upcoming AGM shall be paid/dispatched to the members on and after August 16, 2017.
Maithan Alloys Limited is engaged in the business of manufacturing and exporting niche value-added manganese alloys, including ferro manganese, silico manganese and ferro silicon. The Company is also engaged in the generation and supply of wind power and has a captive power plant. It operates through the Ferro Alloys segment. Its ferro manganese is mainly used in the silico manganese production of flat steel, manganese-rich steel and stainless-steel products. Its silico manganese is consumed in all steel products and used in higher quantities in 200 series stainless steel, alloy steel and manganese steel. Its ferro silicon is used in special steels and in small quantities in mild steel. Ferro silicon is also used for the manufacture of silicon, corrosion-resistant and high-temperature resistant ferrous silicon alloys, and silicon steel for electromotors and transformer cores. Its subsidiaries include Anianev Minerals Limited and Salanpur Sinter Private Limited, among others.
Maithan Alloys Limited Reports Audited Standalone Earnings Results for the Fourth Quarter and Year Ended and Consolidated Earnings Results for the Year Ended March 31, 2017; Announces Production Results for the Year Ended March 31, 2017; Recommends Dividend for the Financial Year 2017, Payable on and After August 16, 2017