Somany Ceramics PAT up by 84.65%
Somany Ceramics Ltd has announced its financial results for the Quarter/ Half year ended September 30th 2009. The company registered an increase of 93.73% in Profit before Tax in the Quarter ended September 30, 2009, which increased to Rs. 7.11 Cr from Rs. 3.67 Cr in the corresponding period last year. The Profit after Tax also increased by 84.65% to Rs. 4.69 Cr from Rs. 2.54 Cr in the same period last year.
The company’s total revenue for Q2 also registered a growth of 13.02% rising to Rs. 124.55 Cr. from Rs. 110.20 Cr. in the same period last year. Commenting on the company’s performance, Abhishek Somany, Joint Managing Director, Somany Ceramics Ltd. said: “We have been able to sustain a good growth as reflected in our quarter results and have invested around Rs. 100 crore in the company’s expansion to ensure the growth trajectory. We look forward to a strong quarter ahead on account of up gradation in manufacturing facilities coupled with introduction of new products and strengthening of exports.”
He further added, “We also plan to focus on retail expansion by adding to our network of dealer showrooms and further augment our manufacturing plants in Gujarat and Haryana by 7000 sq mts per day.”
About Somany Ceramics Ltd: Somany Ceramics Ltd., Flagship Company of the H.L Somany Group, is one of the leading players in the tiles and sanitary ware industry. Incorporated as Somany Pilkington’s in 1969 by Shri H.L Somany, it later came to be known as Somany Ceramics Limited. In 1971, the very first unit of Somany started production in Kassar, Haryana and the second unit was set up in 1981 in Kadi, Gujarat.
Somany achieved Government recognition for its R&D Department in 1996 (a first in the tile industry) and was the first tile company to be awarded ISO 9002 certification in 1998. It also achieved ISO 14001 in 1999 for environment friendly facilities. Somany also holds exclusive rights for Veilcraft Technology, which renders a specially treated coating that protects each tile against abrasion, scratches and stains. Somany is listed on the NSE and BSE of India with over 3500 shareholders.