Directors’
Report
Dear shareholders,
Your Directors are pleased to present the 28th Annual Report together with the
audited accounts of your Company for the financial year ended 31st March 2014.
Financial review
(The financial discussion in this section is based on the
Standalone Financial Statements).
Your Company’s strong business model stood the
test of challenges for another year. Despite the
economic slowdown, policy paralysis and rising
fuel prices which dampened industry prospects,
your Company sustained its growth momentum.
Your Company’s ability in fueling and consistently
delivering on customer’s aspiration resulted in
a 18% growth in net sales from
`
15882 million
to
`
18779 million. Its painstaking efforts in
streamlining costs facilitated in a 6.51 % increase
in EBIDTA from
`
2249 million in 2012-13 to
`
2396 million in 2013-14.
Profit after tax increased from
`
1005 million to
`
1167 million, a 16.11 % growth over the previous
year. The earnings per share (basic) increased
from
`
13.66 to
`
15.70 per share during the same
period. The book value per share strengthened
from
`
48.49 as on 31st March 2013 to
`
68.48 as
on 31st March 2014.
Dividend
With significant expansion plans on the anvil,
the Board needed to strike a prudent balance
between dividend payout and reinvestment of
(
`
million)
Particulars
Standalone
Consolidated
Year ended
31st March 2014
Year ended
31st March 2013
Year ended
31st March 2014
Year ended
31st March 2013
Revenue (Net Sales)
18779
15882
18400
15833
Profit Before Depreciation, Interest and taxes
2396
2249
2870
2477
Profit Before Tax
1768
1480
1992
1577
Tax Expense
601
475
678
499
Profit After Tax
1167
1005
1314
1078
Minority Interest
–
–
71
33
Profit After Tax and Minority Interest
1167
1005
1243
1045
Balance of Profit & Loss brought forward from
previous year
2068
1619
2109
1620
Profit available for appropriation
3235
2624
3352
2666
APPROPRIATIONS
Proposed Dividend
265
221
265
221
Dividend Distribution Tax
45
36
45
36
Transferred to General Reserve
300
300
300
300
Surplus Credited to Balance Sheet
2626
2068
2742
2109
32
Kajaria Ceramics Limited
