Gontermann-Peipers (India) Limited declares Financial Results for FY 2009-2010

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 21, 2010 -- Kolkata, May 21st, 2010: Gontermann-Peipers (India) Limited (GPI), a leading engineering company manufacturing Cast Roll and Forge Rolls, has posted an increase in profits by 100.03% for the financial year ended 31st March, 2010.

Highlights
•The Profit before Interest, Depreciation & Taxation increased by 24.42% from Rs. 1939.98 Lacs during 2008-09 to Rs 2413.80 Lacs in the current year.
•The Profit before Tax increased by 87.71% from Rs. 432.47 Lacs during 2008-09 to Rs 811.81 Lacs in the current year.

•The Profit after Tax increased by 100.03% from Rs. 256.54 Lacs during 2008-09 to Rs 513.16 Lacs in the current year.

The net turnover of the Company decreased by 10.53% from Rs 16436.41 Lacs in 2008-09 to Rs 14367.62 Lacs this year. The Board of Directors have recommended payment of Preference Dividend on the 6% Cumulative Optionally Convertible Redeemable Preference Shares (COCRPS), subject to the necessary approvals. The current Earning per share is Rs.3.62 up by 103% from Rs. 1.78 during 2008-09.

Commenting on the company’s financial results Mr. Lalit Kumar Poddar, MD, Gontermann Peipers (India) said, “We remain optimistic in terms of the market and expect our businesses to grow further. We shall aggressively pursue opportunities to enhance our reliability, improve industrial productivity and sustain higher efficiency levels”

To achieve the maximum performance efficiency, company has undertaken modern management initiatives such as Six Sigma, TPM, Activity Based Costing, Just-In-Time (JIT), Performance Management System (PMS) to maximise performance efficiency in consultation with leading consultants. These management initiatives have been integrated with the Human Resource Development policies of the Company.

The Company has been accredited with the following Certifications:
1. ISO 14001:2004
2. ISO 9001:2008; and
3. OHSAS 18001:2007

for its activities related to Design, Development, Manufacture and Supply of Cast Steel, Cast Iron (Static & Centrifugal) & Induction Hardened Forge Steel Rolls. These certifications validate the Company's conformity with internationally established standards for Environment Management, Quality Management and Occupational Health and Safety Management Systems, respectively. The Company has received the Award for Export Excellence from Engineering Export Promotion Council (EEPC), Eastern Region for its outstanding contribution to engineering exports during the year 2007-08.

Cast Roll     financial results     steel