40% Dividend by Nitta Gelatin India Limited
Nitta Gelatin India Limited (NGIL), one of the prominent players in the Gelatin industry, has maintained the dividend of 40% during the year ended 31st March 2012. The Net Profit for the year ended 31st March 2012 after tax touched Rs. 5.08 Crores as against Rs. 1.89 Crores in the previous year.
The operating results for the quarter ended 31st March 2012 clocked a profit of Rs. 5.67 Crores after tax in clear contradiction with the results of both the corresponding previous year quarter and the immediately preceding quarter. earning per Share for the year was Rs. 6.05 as against Rs. 2.25 in the previous year.
The year under review witnessed a 20% increase in gross revenue from Rs. 204 Crores in the previous year to Rs. 246 Crores. During the year, the Company could come out of the grappling effects of manifold increase in raw material cost and register growth in the volume of sales besides improving the bottom line.
The fully owned subsidiary of the Company, Reva Proteins Limited, has successfully commissioned a new Limed Ossein Project in Gujarat during the year. This is expected to cause landmark improvements in the working results of the company in the years to come.
During the year ended 31st March 2012 also, there were increases in price of the main raw material, Crushed Bone and utilities like Furnace Oil and Firewood. The Company is pursuing its foray into consumer products and a series of niche products are in the offing. With these new products in place, the Company is poised to reach greater heights.