NACL Industries Limited Not to Recommend Dividend for the Financial Year Ended March 31, 2019; Announces Management Changes, with Effect from June 1, 2019; Reports Audited Standalone Earnings Results for the Fourth Quarter and Standalone and Consolidated Earnings Results for the Year Ended March 31, 2019
May 29, 2019 at 03:58 pm
Share
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.
NACL Industries Limited is an India-based agrochemical company. The Company manufactures and markets crop protection products in India. The Company manufactures a comprehensive range of active ingredients, formulations and custom manufactured fine chemicals at its facilities in Srikakulam and Ethakota in Andhra Pradesh. Its products include formulations and technicals. Its formulation product categories include insecticides, fungicides, herbicides, and regulators and nematicides. Its insecticides include Cairo, Cannon, Dxtar, Ennova, Fenny, Force Super, Fury and Hurricane Plus. The Company's technical products include myclobutanil, propiconazole, profenofos, pretilachlor, tricyclazole, thiamethoxam, lambda cyhalothrin, bifenthrin, azoxystrobin, thifluzamide, difenoconazole, bispyribac sodium, and glufosinate ammonium. The Company exports its products to approximately 30 nations across four continents. In the domestic formulation market, they have over 60 brands covering various crops.
NACL Industries Limited Not to Recommend Dividend for the Financial Year Ended March 31, 2019; Announces Management Changes, with Effect from June 1, 2019; Reports Audited Standalone Earnings Results for the Fourth Quarter and Standalone and Consolidated Earnings Results for the Year Ended March 31, 2019