Batliboi Ltd., one of India’s leading Engineering companies, today announced its Audited Consolidated Financial Results for the year ended 31st March 2008.

The financial highlights of the year ended 31st, March 2008 are given below:

* The company’s consolidated Gross Revenue has increased by 113 % to Rs. 2,825 million as against Rs. 1,325 million in the previous year.
* Consolidated PBT has gone up by 22 % to Rs. 242 million from Rs. 199 million.
* Consolidated Net Profit has gone up by 13 % to Rs. 149 million from Rs. 132 million
* Gross Billing ( including indirect billing) at Rs. 4,383 million has gone up by 43 % from Rs.3,065 million
* The Board of Directors have recommended dividend on equity shares @20%

The results take into account the performance of both Quickmill Inc. in Canada and AESA s.a in France, the two acquisitions the company had made last year.

Commenting on the performance in 2008 – 09, Mr. Nirmal Bhogilal, CMD said:

“The company’s Machine Tool Division has done exceedingly well during the year under review. The bottomline has grown by more than 100% and the gross sales has also gone up by 20 %. This has been achieved inspite of flat growth in Machine Tools industry as reported by IMTMA (Indian Machine Tools Manufacturer’s Association). However, because of the slowdown in the Textile Industry due to decline in exports arising from sharp appreciation of Rupee vis – a – vis Dollar combined with ever increasing cotton prices, it has had an adverse impact on the company’s Textile Machinery and Textile Air Engineering Divisions and therefore, has affected company’s standalone performance. Notwithstanding the above, the consolidated performance of the company has improved substantially.”

Sourced From: Avian Media Pvt. Ltd

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