The Board of Century Textiles & Industries at its meeting held on 20 May 2018 has approved the draft scheme of arrangement amongst the company, UltraTech Cement and their respective shareholders.

The Scheme, inter alia, provides for the demerger of the Cement Business (as defined in the Scheme) of the Company into UltraTech Cement. Post effectiveness of the Scheme, the equity shares of Ultra Tech Cement Limited shall be issued to the eligible shareholders of the Company.

The Scheme as aforesaid is subject to necessary approvals by the stock exchanges, Securities and Exchange Board of India, Competition Commission of India, shareholders and creditors of the company(ies), Mumbai Bench of National Company Law Tribunal and such other statutory and regulatory approvals as may be required.

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Century Textiles & Industries announced that announced that the Annual General Meeting (AGM) of the company will be held on 31 July 2018.

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Century Textiles & Industries has fixed 31 July 2018 as record date for payment of dividend. The dividend will be payable from 02 August 2018.

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Net profit of Century Textiles & Industries rose 195.14% to Rs 108.70 crore in the quarter ended March 2018 as against Rs 36.83 crore during the previous quarter ended March 2017. Sales rose 4.40% to Rs 2087.28 crore in the quarter ended March 2018 as against Rs 1999.22 crore during the previous quarter ended March 2017.

For the full year,net profit rose 254.00% to Rs 371.66 crore in the year ended March 2018 as against Rs 104.99 crore during the previous year ended March 2017. Sales rose 6.62% to Rs 7896.63 crore in the year ended March 2018 as against Rs 7406.37 crore during the previous year ended March 2017.

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