Visaka Industries will hold a meeting of the Board of Directors of the Company on 12 August 2019.

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Visaka Industries is undertaking expansion of its V-Boards division by setting up a new unit in thestate of Tamil Nadu.

The existing capacity of the unit is 1,70,000 MTs and capacity utilisation is 80%. The company proposed to add capacity to the tune of 50,000 MTs. The capital expenditure for the expansion is Rs 100 crore to be funded through internal accruals.

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Net profit of Visaka Industries declined 7.57% to Rs 14.04 crore in the quarter ended March 2019 as against Rs 15.19 crore during the previous quarter ended March 2018. Sales rose 15.47% to Rs 299.75 crore in the quarter ended March 2019 as against Rs 259.60 crore during the previous quarter ended March 2018.

For the full year,net profit rose 1.28% to Rs 67.41 crore in the year ended March 2019 as against Rs 66.56 crore during the previous year ended March 2018. Sales rose 12.26% to Rs 1136.41 crore in the year ended March 2019 as against Rs 1012.32 crore during the previous year ended March 2018.

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Visaka Industries announced that the Board of Directors of the Company at its meeting held on 03 May 2019, has recommended a Final dividend of Rs.7 per share (i.e.70%), subject to the approval of the shareholders.

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