Rajoo Engineers Q1 revenues up by 46.71%

Rajoo Engineers Ltd (BSE: 522257), a Rajkot based company engaged in the business of manufacturing of plastic extrusion machinery; has announced its financial results for the first quarter ended on June 30, 2010.

The company has posted revenues of Rs 13.60 crore on a consolidated basis for the first quarter ended June 30, 2010, as against Rs 9.27 crore for the corresponding previous quarter registering a growth of 46.71%. Company’s profit after tax witnessed a surge by 75.76% to Rs 1.08 Crore compared to previous corresponding period.

The earnings per share (EPS) works out to Rs 0.29 for the first quarter ended 30th June 2010, as compared to Rs. 0.19 for the first quarter ended June 2009

Commenting on the financial performance of the first quarter, Mr. C. N. Doshi, Chairman said, “The exponential growth saga continues. We plan to consolidate our footprint in new geographies penetrated by us last year. With the prestigious K 2011 show in Dusseldorf round the corner in October 2010, we expect to surpass our last year’s performance.”

During the quarter ended, the company commissioned Asia’s first Tandem Extrusion Physically Foamed EPE Sheet Line at Nakoda Group’s Mysore Poly Foams at Salem, Tamil Nadu. Company has also supplied 1.5 MT wide RPET Sheetline with 1 ton/hr output to Spain. Company has also tied-up with Wonderpack Industries Pvt Ltd. to serve the sheet extrusion and thermoforming industry worldwide.

About Rajoo Engineers Ltd.:
Based in Rajkot, Rajoo Engineers Limited is a BSE listed company and has been in business since 1986. The company has today emerged as an undisputed global player in blown film and sheet extrusion lines with exports to over 50 countries so far. Owing to its focused efforts in blown film and sheet extrusion lines, the Company enjoys premium market position in this segment. Being a technology driven Company, product innovations, world-class quality, state-of-the-art workmanship, increased energy efficiency and high levels of sophistication and automation have become the hallmark of Rajoo Engineers’ products
(www.rajoo.com)