Zicom Electronic Security Systems Limited (BSE Code: 531404), one of the leading electronic security solutions providers in India, announced its audited financial results for the fiscal year ended March 31, 2008.

At the Board Meeting held today, the Company declared its consolidated financial results, being first year of consolidation of results alongwith its subsidiary companies.
The highlights of financial results for the year ended March 2008 are:
* Total Consolidated Income for the year ended March 2008 at Rs. 291.16 crores, shows a remarkable growth of over 87.24% as compared to Rs. 155.50 crores in the previous year.
* Total Income of the Company on standalone basis of Rs. 164.98 crores and Net Profit After Tax of Rs. 8.04 crores.
* Consolidated Profit after Tax stands at Rs.1.45 crore as against Rs.7.93 crores of the previous year showing decline of 81.71% mainly due to the incurring of Rs 21.84 crores on account of launch expenses and advertising of the retail subsidiary.
* The Board has recommended a dividend of 10%

Commenting on the growth, Mr. Manohar Bidaye Chairman – Zicom Electronic Security Systems Limited said, “The Company has made remarkable progress in terms of top line growth and EBDITA growth (adjusted for incurring of Rs. 21.84 crores on account of launch expenses and advertising of the retail subsidiary) the launch expenses has been entirely written off despite much of it being brand building in nature, hence the bottom line was affected due to loss of Rs. 15.37 crores of its Retail subsidiary viz. Zicom Retail Products Private Limited. The loss in retail business was mainly attributed to heavy advertisement expenditure incurred for building up category of security for SOHO Market i.e. Small homes small shops market”.

He also mentioned that “Unisafe Fire Protection Specialists LLC, Dubai, the Company acquired during the last financial year has posted significant growth and achieved turnover of Rs 72.19 crores and profit of Rs. 12.62 crores due to surge in the construction activities in Gulf region.”

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