Manaksia has announced it FY08 results. Here are the key concall take aways.....

Manaksia has grown by 40% both in terms of bottom line and top line. Metal segment has grown most on YoY basis and it contributed 80% of total sales. The company’s consolidated net sales for FY08 was at Rs 1147.37 crore, as against Rs 827.76 crore last year. The PAT increased by 39.28% YoY to Rs 128.19 crore from Rs 92.03 crore.

Management said that Increase in profits and turnover were mainly due to increase in sales of metal products, both in India and Nigeria.

MINL, the Nigerian subsidiary of Manaksia, will take the scrap route to produce 200,000 tons of steel rebars per annum for the construction industry in Nigeria. 

The Board of Directors also approved the proposal for setting up a subsidiary company in Mauritius to facilitate international investments.

The Board of Directors have declared dividend of 100%.

The company has paid debt of Rs 60 crore out of the total debt of Rs 115 crores.

For more details listen to concall......