Suryalata Spinning Mills FY2011 PAT up to Rs 1979 lacs, Declares final 30% Dividend

- Total Income up by 46 % to Rs. 24822 lacs - Net Profit up by 246 % to Rs. 1979 lacs - EPS stands at Rs. 58.63 - Board of Directors has declared a dividend of 30 % for the year.

Hyderabad, Andhra Pradesh, May 27, 2011 /India PRwire/ -- Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) one of the leading producers of Yarn has today announced its audited annual results for FY2010-2011.

Total Income for the year ended March 31, 2011 stands at Rs. 24822 lacs, up by 46% from Rs. 16996 lacs last year. Net Profit is up by 246 % to Rs.1979 lacs from Rs.572 lacs in 31st March 2010. Earnings per share is up by 277 % to Rs.58.63 as compared to Rs. 15.56 last year. Total Income for the last quarter of FY2011 stands at Rs.6892 as against Rs.4613 lacs in the last fiscal.

The company declared a final dividend of Rs.3/ (30%) for FY 11 as against Rs 2/ (20%) for FY 10, up by 50 %.

Commenting on the results, Mr. Mahender Kumar Agarwal, JMD said, "We are immensely happy with the company's performance in FY10-11. The recovery of the global textile economy has resulted in stead fast flow of orders and we have revved up our production capacity to meet the increasing demand. We hope that the same trend would continue in the next year and we would exceed our stakeholders' expectations also with further expansion in progress during this year."

Notes to Editor

About Suryalata Spinning Mills Limited.

Hyderabad based and listed on the BSE, Suryalata Spinning Mills Limited (SLSML) was established in 1983 and is one of the largest producers of Yarn, manufacturing 100% Polyester and 100% Viscose yarn of counts ranging from 20s to 60s as well as Polyester / Viscose blended yarns. The promoters of SLSML are veterans in the textile business and they carry a vast knowledge & experience of over 50 years in the Textile Industry.

The Company has two manufacturing units located at Kalwakurthy and Urkondapet in the district of Mahbubnagar Andhra Pradesh, which is about 100 kms from Hyderabad. The Kalwakurthy unit is spread over 34 acres of land has an installed capacity of 36288 spindled whereas the Urkondapet unit is spread over 60 acres of land having a manufacturing capacity of 35136 spindles making a total of 71424 spindles as a whole.

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