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Stock Report
Alfa Laval announces lower Q4 net profit of Rs.11.06 crores, declares 150% special interim dividend
Posted On : 2007-02-28 07:02:31( TIMEZONE : IST )
Alfa Laval India Ltd has announced the following Audited results for the quarter & year ended December 31, 2006:
The results for the quarter ended December 31, 2006:
The Company has posted a net profit after tax of Rs 110.62 million for the quarter ended December 31, 2006 as compared to Rs 115.45 million for the quarter ended December 31, 2005. Total Income has decreased from Rs 1723.04 million for the quarter ended December 31, 2005 to Rs 1650.58 million for the quarter ended December 31, 2006.
The results for the year ended December 31, 2006:
The Company has posted a net profit after tax of Rs 696.39 million for the year ended December 31, 2006 as compared to Rs 648.57 million for the year ended December 31, 2005. Total Income has increased from Rs 5878.37 million for the year ended December 31, 2005 to Rs 6061.82 million for the year ended December 31, 2006.
In BSE, the stock price closed lower by Rs.9 (down 1.04%) over its previous close of Rs.865.40.
The Board also took note of the Public Announcement made by Alfa Laval Corporate AB, Sweden (Acquirer) on February 27, 2007 in relation to their desire to acquire upto 4,702,500 equity shares of Rs 10/- each representing 25.89% of the total paid up equity share capital from the existing shareholders at a price of Rs 875/- per equity share. While taking note of the same, the Board considered it prudent to convene the Annual General Meeting after the closure of the open offer and accordingly the Annual General Meeting is scheduled to be held on June 21, 2007.
However, with a view not to hold on to the payment of dividend till after the Annual General Meeting, the Board has declared a special interim dividend of 150% (Rs 15/- per share) on the equity shares for the year ended December 31, 2006. This special interim dividend will absorb Rs 310.62 M. including the dividend distribution tax. Inclusive of the interim dividend of 100% paid in November, 2006, the total dividend for the year ended December 31, 2006 will be 250% (2005: 250%), absorbing Rs 517.69 M of the distributable profit and consequently no final dividend is proposed.
The company has fixed March 16, 2007 as record date for the dividend.
