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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)