New Delhi: La Opala RG Ltd, one of the leading tableware manufacturers in the country announced its unaudited financial results for the fiscal year 06-07. Total revenue for the year ended March 31, 2007 was Rs 54 crores as against Rs 46 crores for 2006.
The company specializes in the manufacture of opal glass tableware and hand cut lead crystal glassware which is marketed under the brand name of ‘Solitaire’.
EBDIT increased to Rs 9.2 crores from Rs 7.98 crores; PBT increased to Rs 7.01 crores from Rs 6.22 crores and PAT increased to Rs 4.6 crores from Rs 4.3 crores.
The Board of Directors has recommended a dividend of 15% compared to 22.50% in the previous year and a 1:1 bonus issue to shareholders
They also announced the launch of a new initiative, Uttarakhand which is a state-of -the-art plant in Uttaranchal. This will house world-class technology and will enhance production capacity further .The technology used there is modern and eco friendly.
With the second unit at Uttaranchal, La Opala will reiterate its position as leading and tableware manufacturer in the country aiming to offer an international quality product at an affordable price.
“We shall be offering new light- weight ranges that will match world class products from our second stable. With the unit at Uttaranchal, market share and export shall go up considerably. Production at Sitarganj plant will commence in the second quarter of the current financial year,” confirmed Mr Sushil Jhunjhunwala, Managing Director, La Opala RG Ltd.
In its commitment to reach out to as many homes as possible, the company has enhanced and invested into its distribution network. The product is retailed through leading retail chains like Pantaloons, Big Bazaar, Spencers, Lifestyle, Vishal Mega Mart & Shopper’s Stop and a growing distribution network of 50 plus distributors with more than 8000 retail dealers.
In the last fiscal, the company was the only Indian tableware brand to supply to international European labels such as Rosenthal & Waterford. The company was listed on the National Stock Exchange on 16th March 2007.