Atul Ltd 2008-09

28 Directors’ Report Dear Members, The Board of Directors of Atul Ltd present the Annual Report of the Company together with the audited statement of accounts for the year ended March 31, 2009. Dividend The Board of Directors of the Company recommend payment of dividend of Rs3 per share on 2,96,61,733 equity shares of Rs10 each fully paid up. The dividend will entail an outflow of Rs10.41 crores on the paid-up equity share capital of Rs29,66,17,330. Profitability The sales and operating income at Rs1,181.10 crores recorded a growth of 17% (previous year 11%). All businesses recorded higher sales, aided mainly by robust demand particularly in the first half of the year and on account of higher realisation on exports due to weak Re. The operations showed improved profitability evident from the rise in PBT from Rs28.15 crores to Rs89.73 crores, before considering the exchange rate difference. After considering the exchange rate difference, however, the PBT increased from Rs38.17 crores to Rs45.69 crores. Finance The interest and finance charges (net) for the year were Rs41.03 crores compared to Rs32.73 crores during the previous year-an increase of 25.34% as compared to the sales growth of only 16.22%. The net interest to sales ratio, as a result, increased from 3.28% last year to 3.47%. During the year, the benchmark interest rates continued to rise and PLRs of banks showed a significant upward bias for most part of the year (however, they Financial results 2008-09 2007-08 Sales and operating income 1,18,110 1,01,368 Other income 1,285 1,962 Total revenues 1,19,395 1,03,330 Profit before tax and exchange rate difference 8,973 2,815 Exchange rate difference income | (expense) (4,404) 1,002 Profit before tax 4,569 3,817 Taxation including tax adjustment and MAT entitlement 782 155 Net profit after tax 3,787 3,662 Balance brought forward 20,375 18,120 Disposable surplus 24,162 21,782 Appropriation General reserve 379 366 Proposed dividend 890 890 Dividend tax on above 151 151 Balance carried forward 22,742 20,375 24,162 21,782 (Rs in lacs)