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September 08, 2008


Welspun Gujarat Q4 2007-08 net profit up by 145% YoY

Welspun Gujarat Stahl Rohren Limited has announced the results for January to March 2008 quarter

The unaudited results for January to March 2008 quarter
Welspun Gujarat has posted a profit after tax of INR 1022 million for the January to March 2008 quarter up by 146.2% YoY as compared to INR 415 million for January to March 2007 quarter. Total income has increased from INR 7447 million for the January to March 2007 quarter to INR 12383 million for the January to March 2008 quarter.

The audited results for the year ended March 31st 2008
Welspun Gujarat has posted a profit after tax of INR 3514 million for the year ended March 31st 2008 up by 146.4% YoY as compared to INR 1426 million for the year ended March 31st 2007. Total income has increased from INR 26955 million for the year ended March 31st 2007 to INR 40290 million for the year ended March 31st 2008.

The consolidated results are as follows

Welspun Gujarat has posted a profit after tax & minority interest of INR 3407 million for the year ended March 31st 2008 up by 139% YoY as compared to INR 1425 million for the year ended March 31st 2007. Total income has increased from INR 26955 million for the year ended March 31st 2007 to INR 40130 million for the year ended March 31st 2008.

Welspun Gujarat has posted net sales of INR 1227 crore in January to March 2008 quarter up by 68.5% YoY as against INR 728.1 crore in January to March 2007 quarter. Its net profit stands at INR 102 crore in Q4 of 2008 up by 145.7% YoY as against INR 41.5 crore in Q4 of 2007.

Mr BK Goenka vice CMD of Welspun Gujarat said that it has over INR 5,000 crore order book position right now. He added that "We are expecting a growth of 20% to 30% in the first quarter of 2008-09 and with our commissioning of our backward integration plate cum coil mill, we are likely to achieve much better topline as well as bottom line.

Mr Goenka added that "We had revenue of more than INR 4,000 crore in 2007-08 fiscal and a growth of more than 50% and an EBITDA has grown by almost 100%. We have over INR 5,000 crore order book position right now. Basically we are expecting a growth of 20% to 30% in the first quarter of 2008-09 and with our commissioning of our backward integration plate cum coil mill, we are likely to achieve much better topline as well as bottom line."