Empee Distilleries Limited (EDL), a unit of the Chennai based Rs. 900 crore Empee Group has announced its yearly operating results for the year ended 30th September, 2007 after adoption by its Board at their meeting held in Chennai on the 5th December, 2007.
EDL has achieved a total income of Rs. 638 Crores which comprises of the turnover of Rs. 626 Crores from its main business - sale of IMFL products and Rs.12 Crores as other income. On a year on year basis, there is an increase of 30% in turnover over the previous year, for which turnover was Rs. 485 Crores. There has been an increase of 30% of its profit after tax to Rs. 20.10 Crores as compared to Rs. 15.38 Crores in the previous year.
EDL currently operates IMFL blending and bottling units in the states of Tamil Nadu and Kerala. The company has also recently set up a 10 MW bio mass based power plant in Tamil Nadu. EDL's future plans include development of 20 acres of its own land at Sriperambadur, Tamil Nadu. This residential development is expected to be launched in January 2008. The revenue from the Real Estate and Power business is expected to flow in the current financial year.
EDL is also increasing its production capacity in Tamil Nadu and setting up new blending and bottling facilities in Andhra Pradesh and Karnataka. Another new venture is the setting up of a grain based alcohol plant in Andhra Pradesh with a capacity of 60 lakh kilo litres per day. EDL expects to post a turnover of Rs. 1152 crores and profit after tax of Rs. 55.73 crores in the current financial year.
EDL had recently come out with an Issue of Shares through 100% book building process with a price band of Rs. 350 - Rs 400, which was subscribed by 6.5 times. Its shares are listed on the Bombay and the National Stock Exchanges. The proceeds of the IPO are being utilized for expansion of its activities, development of its real estate projects, setting up a new distillery plant and the expansion of its existing distillery units.
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