For FY08, it reported a 95% surge in net sales at Rs.242.75 crore and despite a 97% rise in operating expenses, it managed to post an EBITDA of Rs.91.84 crore, a rise of 95%. PBT was up by a whopping 117% at Rs.83.53 crore and PAT was even better, it went up by 125% at Rs.67.44 crore. On an equity of Rs.25.61 crore, it managed to post a very healthy EPS of Rs.31.88 as against Rs.28.76 in FY07.
The company has had a phenomenal Q4. Its net profit was more than the combined net profit of the previous three quarters. And this is precisely how the company managed to end the fiscal FY08 on such a resounding note.
In the latest development, the Government of Tamilnadu has selected the company for developing a minor port at Cheyur, Tamil Nadu for handling coal for power generation besides other cargo. It is also setting up a fishing harbour on a Public-Private-Partnership model at Rajakamangalam Thurai in Kanyakumari, Tamil Nadu, expected to be completed by 2010 through a Special Purpose Company already formed in the name of Rajakamangalam Thurai Fishing Harbour Private Ltd. A trust formed by the public of Rajakamangalam holds 51% stake in the Special Purpose Company. The company has struck a very innovative deal wherein, as per the agreement, the fishermen shall have to give 10% of their catch to the Special Purpose Company for availing the services of the harbour which in turn shall sell to exporters or any other person.
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