Kolkata: Graphite India Ltd (GIL) yesterday declared
dividend of Rs 4 per equity share of Rs 10 each for the
year ended March 31, 2004. During the year, the company
earned a net profit of Rs 51.32 crore on a total income
of Rs 549.30 crore compared to the net profit of Rs 33.39
crore and sales turnover of Rs 410.08 crore last year.
electrode division operated at more than rated capacity.
In volume terms, the domestic sales of graphite electrode
increased by 27 per cent and export sales rose by 29 per
cent. GIL is optimistic that the demand for graphite electrodes
continues to be strong. The general upsurge in the steel
sector is also likely to benefit GIL. The company exports
more than 70 per cent of its graphite electrode, while
its order book position is quite healthy.
expansion project for enhancing the capacity of Durgapur
plant by 20,000 tonnes at a
capital cost of Rs 160 crore is progressing as per schedule
and will be completed before the end of the current fiscal,
thereby raising its total graphite electrode manufacturing
capacity to 60,000 tonnes per year.