Sejal Glass board recommends 5.50% dividend
Mumbai, September 23, 2008: Sejal Architectural Glass Ltd. (SAGL), a leading player in the architectural glass solutions, has announced that the board of directors of the company has recommended a dividend of 5.50 percent for its shareholders including those who have got allotment in IPO. However, the promoters & promoters’ group shareholders, which controls 52.34 per cent stake in the company, has decided to waive their right to receive dividend this year.
Meanwhile, the company posted a 43 per cent growth in net sales at Rs 54.7 crore and a 68 per cent rise in net profit at Rs 4.60 crore. It is currently implementing around Rs 500 crore expansion plan to set up a 200,750 MT per annum float glass plant at Jhagadia in the state of Gujarat. To part finance the project, the company had tapped the capital market recently, which had an overwhelming response.
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