NACL Industries Limited announced that at its board meeting held on May 29, 2019, the board decided not to recommended dividend for the financial year ended March 31, 2019.

The board took note of the appointment of Mr. Atul Churiwal and Mr. Rajesh Kumar Agarwal as nominee directors on the board of the company and accepted the offer of Mr. V. Vijay Shankar to step-down as Managing Director as well as director of the company with effect from June 1, 2019. The Board approved appointment of Mr. M Pavan Kumar as the MD and CEO with effect from June 1, 2019.

The company reported audited standalone earnings results for the fourth quarter and standalone and consolidated earnings results for the year ended March 31, 2019. For the quarter, on standalone basis, the company reported total income of INR 1,857 million compared to INR 1,989.7 million a year ago. Loss for the period was INR 162.3 million or INR 1.04 per basic share compared to profit of INR 3.6 million or INR 0.02 per basic share a year ago. Revenue from operations was INR 1,778.5 million against INR 1,901.3 million a year ago.

For the year, on standalone basis, the company reported total income of INR 8,911.9 million compared to INR 8,842.3 million a year ago. Loss for the period was INR 83.8 million compared to profit of INR 107.2 million a year ago. Basic loss per share was INR 0.54 compared to earnings per share of INR 0.69 a year ago. Diluted loss per share was INR 0.53 compared to earnings per share of INR 0.68 a year ago. Revenue from operations was INR 8,654.9 million against INR 8,651.7 million a year ago.

For the year, on consolidated basis, the company reported total income of INR 8,912.1 million compared to INR 8,848.7 million a year ago. Loss for the period was INR 69.5 million or INR 0.53 per basic share compared to profit of INR 115.7 million or INR 0.74 per basic share a year ago. Revenue from operations was INR 8,654.9 million against INR 8,658.1 million a year ago.