Welspun Gujarat's net profit up by 146%

Welspun Gujarat Stahl Rohren Ltd., (Welspun) the flagship Company of the $3 billion Welspun Group today announced its results for the 4^th quarter and year ended March 31, 2008, with an annual turnover of Rs 40,104 million ($1bn) for FY 2008.

Summary of Q4 - FY 08 results   (Figures in Rs. Million)

Summary of FY 08 Annual Results 

(Figures in Rs. Million) 

These impressive numbers were achieved on the backdrop of Welspun executing niche pipe orders that were won against selective global competition cementing Welspun’s position as World’s leading pipe supplier. 

Annual Dividend Proposal

The board of directors also proposed the payment of an annual dividend of Rs 1.5/share. This would represent an increase of 50% over the annual dividend paid for the FY 07.  

Management comments

Speaking on the results, Mr. B. K. Goenka, Vice Chairman and Managing Director of Welspun said, “It has been a remarkable year for all of us, we have taken quantum leap to become a billion dollar company. We have strongly capitalized on every opportunity to create all round wealth for our stakeholders. Our vision now is to emerge as most respected Pipe Company in the World”, he adds.

Echoing Mr. Goenka’s comments, Mr. B.K. Mishra, CEO and Executive Director said, “Due to the sheer effort and focus on ‘Engineering Excellence’, we have left no stone unturned to add new orders, new clients, new markets and most importantly, margin expansion. This is a reflection of all the hard work, team Welspun has done in the last few years. We shall double our efforts to take Welspun to the unparallel level.” 

Sourced From: Sampark Public Relations Pvt Ltd