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On 21st October 2005 the high court of Bombay had approved the merger of erstwhile subsidiaries namely, Finolex Wire Products and Finolex Finance with the Company, effective from 1st April 2005. Thus, financial results were prepared by the company after taking into consideration the merger effect
In view of the merger effect, the current and previous periods' figures are not comparable.
For the quarter ended March 2006 net sale of the company stood at Rs 223.24crore. The operating profit margins of the company was 12.5%.Company has reported a PAT of Rs 27.5crore.
For the year ended March 2006 net sales of the company were 787.78 crore. The operating profit margins for the year stood at 10.2%. Net profit for the period stood at Rs 50.37crore.
Other Developments
The company plans to introduce electrical switch in June 2006 under the brand name ’Finoswitch’.
The company is setting up a manufacturing unit for Compact Fluorescent Lamp which are expected to be on retail shelf during first quarter of current year. The company is also planning to introduce High Voltage Power Cables (up to 66KV) in fourth quarter of current year.
The Board of Directors of the company has recommend dividend of 60% (Rs 6 per equity share) for the year.
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