Leveraging the school reopening season, writing tools maker Camlin today posted a robust 87.71 per cent growth in profit after tax (PAT) at Rs 8.01 crore for the first quarter of this fiscal and said it aims to achieve a Rs 500-crore turnover by FY2011.
Camlin had a PAT of Rs 4.27 crore in the corresponding quarter of the previous year.
Last year, despite the recession, Camlin had posted an impressive growth and now in a situation when the economy is showing signs of revival, "We in Camlin have registered robust growth by leveraging the back-to-school season for meeting our topline and stressed on high contributing products for achieving (growth in) the bottomline. The dual strategy has worked for us," Camlin's MD Dilip Dandekar told PTI here today.
"Looking at our current growth plans, we are hopeful of achieving a turnover of Rs 500 crore by FY2011 from Rs 293 crore in FY2009," Dandekar added.
The company is expected to achieve a turnover of Rs 360 Rs 370 crore in FY2010.
Camlin reported net sales of Rs 105.88 crore in Q1FY2010 against net sales of Rs 85.66 crore in the same period last year, recording a healthy growth of 23.60 per cent.
The company's operating profit before tax and VRS compensation for the quarter ended June 2009 was at Rs 11.21 crore against Rs 6.94 crore in the same quarter of last year.
