Excellent performance by Gujarat Ambuja Cements Ltd

Gujarat Ambuja Cements Limited (GACL) recorded a 52 per cent rise in net profit scoring Rs337 crore during 2003-04 as against Rs222crore in the previous year. The turnover is up at Rs1968 crore from Rs1742 crore, an increase of 13 per cent. The profit before tax is higher at Rs341 crore as against Rs254 crore. The net profit is up by 52 per cent at Rs337 crore as against Rs222 crore in the previous year. Net profit after tax is Rs47 crore as against Rs32 crore in the previous year.

In the fourth quarter ending June 30 2004, sales were up by 26 per cent to Rs595 and profit after tax was up by 50 per cent to Rs117 crore. The turnover has gone up to Rs595 from Rs471, an increase of 29 per cent.

The above results include the working of former Ambuja Cement Rajasthan Limited (ACRL) for one month from 1st June 2004, the date on which it merged with GACL.

The board of directors has recommended an increased dividend of 80 per cent — including interim dividend 50 per cent — as against 70 per cent in the previous year.