Garware Polyester's FY19 revenue up 13 pc at Rs 948 crore, declares 100 pc dividend

Garware Polyester said on Thursday that 20 per cent jump in its exports helped grow the consolidated revenue to Rs 948 crore in 2018-19, up 13 per cent from Rs 842 crore in the previous fiscal year.

Significant improvement in operational efficiency, prudent working capital management and emphasis on speciality products helped consolidated earnings before interest, depreciation, tax and amortisation (EBIDTA) to zoom 73 per cent from the previous year's Rs 89 crore to Rs 153 crore, it said.

The consolidated profit before tax also increased by 141 per cent to Rs 120 crore from Rs 50 crore for the previous year. The consolidated net profit after tax of the company for FY 19 went up to Rs 82 crore as compared to the previous year's Rs 33 crore, representing an improvement of 147 per cent.

The operating margins for the year under review at Rs 153 crore recorded a margin of 16 per cent on total revenue as compared to previous year's operating margin of 11 per cent, according to a statement.

International revenue on a consolidated basis totalled Rs 640 crore in Fy 19, accounting for 68 per cent of the company's total revenue.

The board of directors recommended a dividend of 100 per cent as compared to the previous year's dividend of 20 per cent. The dividend payout (including dividend distribution tax) ratio for the current year works out to 37.68 per cent.

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