Somany Ceramics annual profit jumps by 134%

Somany Ceramics Ltd, one of the leading players in the Indian ceramic industry, has announced its annual audited financial results for the fiscal 2009-10. The Profit After Tax (PAT) for the year has increased by 134.10% to Rs. 2046 lacs from Rs. 874 lacs in the financial year 2008-09. The Profit Before Tax (PBT) also recorded an increase of 126.87% rising to Rs. 3056 lacs from Rs. 1347 lacs in the same period last year.  The company reported Net Sales of Rs. 53694 lacs over that of Rs. 44209 lacs in last year, achieving an increase of 21.45%.

Commenting on the Company’s annual financial performance, Mr. Abhishek Somany, Joint Managing Director, Somany Ceramics Ltd. said, “Our current financial results indicate a strong performance on account of our aggressive expansion plans, efficiencies in productivity and margins and strong retail base. We have undertaken a Brownfield expansion in our Haryana plant and the commercial production will start by July, 2010. We will also set up a Greenfield plant in Kadi which will be commissioned by April 2011.”

Speaking on the future, he further added, “We aim to grow more than by 20% in the FY 2010-11 and will invest accordingly for expanding our business operations and upgrading our manufacturing facilities.”

About Somany Ceramics Ltd.
Somany Ceramics Ltd., Flagship Company of the H.L Somany Group, is one of the leading players in the tiles and sanitary ware industry. Incorporated as Somany Pilkington’s in 1969 by Shri H.L Somany, it later came to be known as Somany Ceramics Limited. In 1971, the very first unit of Somany started production in Kassar, Haryana and the second unit was set up in 1981 in Kadi, Gujarat.

Somany achieved Government recognition for its R&D Department in 1996 (a first in the tile industry) and was the first tile company to be awarded ISO 9002 certification in 1998. It also achieved ISO 14001 in 1999 for environment friendly facilities. Somany also holds patent for Veilcraft Technology, which renders a specially treated coating that protects each tile against abrasion, scratches and stains.

Somany is listed on the NSE and BSE of India with over 3500 shareholders.