GEI Industrial Systems Ltd (GEI Industrial), a leader in heat transfer technology, has seen a 70% year-on-year jump in Income from Operations and 74% year-on-year jump in Profit After Tax for the year ended March 31, 2008 as compared to the last fiscal.

While the Company’s total income for FY08 is at Rs 210.88 crore, against Rs 123.99 crore last year, its Net Profit stands at Rs 9.19 crore from Rs 5.29 crore last year. Basic and Diluted Earnings Per Share (EPS) before extraordinary item is at Rs 7.34 per share, up from Rs 4 per share last year.

The Company has achieved an export turnover of Rs 46.79 crores which is 25% of the income from operations.

For the quarter ended March 31, 2008, total income climbed 25% YoY to Rs 81.61 crore from Rs 65.51 crore. Net Profit for the quarter rose to Rs 3.10 crore from Rs 2.33 crore.

The Company has successfully exited the Corporate Debt Restructuring (CDR) in the current year.

Total paid up Equity Shares (on conversion of warrants) as on March 31, 2008 were 14,274580, from 13,267580 in March last year. Increase in Promoter’s stake bodes well for the Company as it shows that they have much faith in the Company’s future.

In March, GEI had bagged an order worth Rs. 30 Cr. from Essar Construction (India) Ltd for a refinery expansion project in Vadinar, Gujarat for supply of Air Cooled Heat Exchangers.

Mr. C.E. Fernandes CMD of GEI Industrial has said that “Product Innovation for Oil, Gas and Power Sectors as well as focus on export market especially to middle east region were the growth drivers for the excellent performance of the Company in the current year”.

Sourced From: Concept Public Relations India Pvt. Ltd

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