| Buoyed by the best results in the history of 70-odd year, the company recommended a 25 per cent dividend compared with the previous year's 20 per cent. Earnings per share (EPS) went up to Rs 13.77 from Rs 6.04. |
| Net sales, during the period, grew to Rs 1576 crore from Rs 1402 crore while gross profit increased to Rs 136 crore from Rs 86 crore. Net profit increased from Rs 28 crore to Rs 63 crore. |
| Shiv Kumar Parikh, director and secretary of the company, said the all round improved performance was due to lower interest outgo on account of payment of high cost loans and better cash management and higher profits from the cement division. |
| The cement division's performance, which earned profit of Rs 31.83 crore compared with the previous year's Rs 1.18 crore, was due to better price realisation. |
| Interest payout came down to Rs 34.32 crore from Rs 49.50 crore. The company managed to reduce interest rates for long term loans by 6 per cent and short term loans by 50 basis points. |
| During the financial year ended March 31, 2003, the company has hived off the refractory unit for Rs 5.5 crore. MCS, the registrar and transfer agent of the company, introduced a scheme to organise dematerisalition and sale of shares of those having less than 50 shares. |
| A team of the Italian tyre maker Pirelli has advised the Birla management not to venture into truck radial tyres unless the overloading was prohibited in the country. |
| Parikh said once the overloading was banned, the company might set up a green field project. The probable joint venture partner would be Pirelli, the technical collaborator of the company. "Pirelli will be approached first to form a joint venture," he added. |
| According to him, a green field project of one million capacity would cost the company Rs 500 crore. Kesoram produces car radial tyres in a small way now. |
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