The net profit for the year registered a sharp increase of 21.5 per cent and stood at Rs 22.13 crore (Rs 18.21 crore). The earnings per share (face value: Rs 2) for the year ended 31 March 2003 works out to Rs 7.37 (Rs.6.07).

The board of directors has recommended a dividend of 80 per cent for the year. The company has a healthy order-book position and is well placed for strong growth in the current year.