Home > Press Releases > Coromandel Fertilisers Limited (CFL) has turned out yet another year of sustained

Coromandel Fertilisers Limited (CFL) has turned out yet another year of sustained

April 24, 2009

The Board of Directors of Coromandel Fertilisers Limited approved the audited financial results for the year ended March 31, 2009. During the year the company achieved a total income of Rs.9667.81cr (Previous year : Rs.3800.11cr). The profit before depreciation, interest and taxes for the year is Rs.949.03 cr (previous year Rs. 455.38 cr). This includes Rs.158.59 cr being the remuneration earned in terms of the Business Assistance Agreement with Foskor (Pty) Limited, South Africa.

The Profit Before Tax is Rs.808.18 cr in 2008-09 compared to Rs. 333.42 cr in 2007-08. The profit after tax for the year is Rs.496.38 cr (Previous year Rs. 209.76 cr).

The Company continued to improve on its performance/profitability despite considerable volatility in the international prices of all key raw materials. The improved profitability has been mainly due to improved operating efficiencies, across all operating units, compensation for sulphur in the case of sulphur based complexes under the new subsidy policy for phosphatic fertilisers and higher contributions from pesticides and specialty nutrient businesses.

The Board of Directors recommended payment of final dividend of 200% for the year ended March 31, 2009. Total dividend together with interim dividend is 500% as against 175% paid last year.

A copy of the advice to the Stock Exchanges giving the highlights of the audited financial results for the year ended March 31, 2009 approved by the Board of Directors of the Company on April 24 2009 is attached.

Headquartered in Chennai, the Rs.9582 Crore (USD 2.4 billion) Murugappa Group is India’s leading business conglomerate. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, its 29 limited companies have manufacturing facilities spread across 13 states in India. The organisation fosters an environment of professionalism and has a workforce of over 30000 employees. The Group which has forged strong joint venture alliances with leading international companies like DBS Bank, Mitsui Sumitomo, Cargill, China Engineering & Explorations Bureau and Groupe Chimique Tunisien, has consolidated its status as one of the fastest growing diversified business houses in India.

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