Psl Limited by thename

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     PSL Limited- Net Sales up by 85% at Rs. 1216.57 crore and announces 50% total dividend

       By Vidya Shetty
       Dated: May 29, 2009

       Q4 PAT at Rs. 13.60 crore Q4 Net Sales up by 85% at Rs. 1216.57 crore Annual sales up at 58% at Rs.
       3559.93 crore ; PAT at Rs.94.85crore PSL announces 50% (Rs.5 per share of Rs.10 each)

       PSL Limited, a leading player in manufacturing and coating of pipes for transporting hydrocarbon products,
       water products, and steel structural applications in India, today reported net sales of Rs. 1,216.57 crore for
       the quarter ended March 31, 2009 compared to Rs. 655.62 crore in corresponding period of last fiscal year,
       registered an increase of 85 %.

        Net Profit for the fourth quarter stood at Rs. 13.60 crore as compared to Rs. 18.32 crore posted in the same
       period of last fiscal year. Diluted Earnings per share (EPS) stood at Rs. 3.14.

        The company has announced 50% dividend (including 25% interim) or Rs 5 per share of Rs 10 face value.

        Consolidated net sales for the year ended March 31, 2009 grew by 58 % to Rs. 3,559.93 crore compared to
       Rs. 2,248.29 crore in the corresponding period of last fiscal year, while net profit for the 12 months ended
       March31, 2009 rose by 12 % to Rs. 94.85 crore, as against Rs. 84.49 crore posted in the same period of last
       fiscal year.

        Diluted earnings per Share (EPS) for 12MFY09 worked out to Rs. 21.91 as compared to Rs. 20.81 for the
       same period of last fiscal year. The operating margin for FY09 stood at 8.7% as against 10.5% in
       corresponding period of last fiscal year

        Commenting on the results, Mr. Ashok Punj, MD, PSL Limited “The Company has posted a robust
       performance due to enhanced market demand for the company’s products. We are hopeful that in view of
       the growing demand from oil and gas sector and Government’s emphasis on providing water for all, we will
       continue to chart out impressive growth in the coming quarters as well”.

        About PSL Limited:
        PSL Limited (PSL) is the largest manufacturer of high-grade large diameter Helical Submerged Arc
       Welded (HSAW) pipes in India. The company manufactures and supplies pipes certified to API (American
       Petroleum Institute) standards for oil & gas, as well as water transmission and structural and piling
       applications for both onshore and offshore sectors.

        PSL with 12 pipe mills at multiple and strategically coast-based locations in Kandla, Chennai,
       Vishakhapatnam, Ahmedabad and Jaipur along with its foreign units at Sharjah and US, with a total
       capacity of over 1.475 million MT per annum, is one of the largest pipe manufacturers in India.

        Other business segments that PSL caters to include pipes coating, induction pipe bending, and sacrificial
       anode manufacturing. PSL, an ISO-9002 certified company, has over the years successfully demonstrated
       its ability to simultaneously manage multiple assignments in a qualitatively and timely manner, both within
       and outside the country.

       Category           Annual Results
       Email              Click to email author
       Phone              22813565;ext-209


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Fax                22813569
Address            Shalaka, Maharshi Karve Marg, Cooperage,
                   Churchgate
City/Town          Mumbai
State/Province     Maharashtra
Zip                400021
Country            India




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