SAT Industries sales rise by 51%, Net profit rises by 65%

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SAT Industries sales rise by 51%, Net profit rises by 65%

SAT Industries Limited sales rise by 51%, Net profit rises by 65% and 90% income from overseas operations

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SAT Industries Limited (SIL) engaged in diversified Manufacturing, marketing activities mainly through its subsidiaries in the field of Pre-engineered building, cement, real estate and coal etc. and listed on the BSE, has posted impressive consolidated results for the 3rd quarter ended Dec 2007 (Q3-2007-08). As per the unaudited provisional consolidated results taken on record on 31^st Jan 08, the income from operations has increased to Rs.53.41 crore for Q3 2007-08 as compared to Rs. 35.42 crore during the corresponding quarter in the previous year registering a major growth of 51%. At net level (PAT), the profit has shot up to Rs.4.41 crore as compared to Rs. 2.67 crore during the corresponding quarter in the previous year registering a major growth of 65%. On an equity capital of Rs. 7.38 crore, the EPS on an annualized basis comes to Rs 4.70 on face value of Rs 2/- per share..

For the nine-months ended Dec 2007, provisional consolidated figures stand as follows: Income from Operations - Rs.128.72 crore as compared to Rs.87.24 crore during the corresponding half year in the previous year and Net Profit - Rs. 12.03 crore as compared to Rs. 6.81 crore during the corresponding period in the previous year.

The company's subsidiary M/s Sah Polymers Limited is engaged in the manufacture of HDPE/PP woven sacks and fabrics with a capacity of 3200 MTPA at its state-of-the-art facility at Udaipur (Rajasthan). The company is implementing an Rs 40 crore expansion plan to increase this capacity to 7500 MTPA by Dec 08. The company also has a substantial international presence through its wholly owned subsidiary in UAE namely Sat Middle East Limited FZC based at Ajman, U.A.E. and undertakes international marketing and global sourcing for the company.

The company has now drawn up plans for entering into Kuwait's real estate sector for which it has set up a joint venture with a local company with a 49% stake. The company plans to invest Rs 49 crore in the joint venture over the next 3 years. The company has also drawn plans to enter the energy sector through its UAE subsidiary by acquiring coal mines in Indonesia, South Africa & Australia. This investment will be funded through internal accruals and borrowings

Barring unforeseen circumstances, the company is expecting a turnover of Rs 190 crore during 2007-08

Sourced From: Sentinel Public Relations