BWI: Sical FY09 EBIDTA INR 985.3 mln, Up 9% vs INR 907.1 mln yr ago

Press release from Business Wire India
Source: SICAL
Wednesday, June 17, 2009 06:52 PM IST (01:22 PM GMT)
Editors: General: Economy; Business: Automotives, Banking & financial services, Business services, Commodities & materials, Financial Analyst, Stock exchanges, Transport engineering; Automotive
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Sical FY09 EBIDTA INR 985.3 mln, Up 9% vs INR 907.1 mln yr ago


Chennai, Tamil Nadu, India, Wednesday, June 17, 2009 -- (Business Wire India) --
-- FY09 net sales INR 6.75 bln vs INR 7.12 bln a year ago.

-- FY09 net INR 180.12 mln vs INR 502.09 mln year ago on exchange rate accounting write-down related to foreign currency borrowing.

-- Rise in operating profit/margin in spite of economic slowdown demonstrates Sical's resilience and ability to communicate value proposition of integrated multimodal logistics to customers-Ashwin Muthiah, Sical Chairman.

-- Recent top level board/management changes already having a positive impact-Ashwin Muthiah.

BSE: 520086
NSE: SICAL
Reuters: SICA.BO
Bloomberg: SIC@IN

Sical Logistics Ltd, India's leading provider of multi-modal integrated solutions for the logistics of bulk and containerized cargo, today announced that audited consolidated profit before interest, depreciation, and tax (EBITDA) was INR 985.3 million, up 9% from INR 907.1 million a year ago even as FY09 consolidated net sales was INR 6.75 billion, slightly down from INR 7.12 billion a year ago.

FY09 consolidated net profit was INR 180.12 million, down from INR 502.09 a year ago primarily because of an exchange rate accounting write-down of INR 168.13 million related to the USD 75 million raised in foreign currency convertible bonds in April 2006.

Comment by Ashwin Muthiah, Chairman

The rise in operating profit and margins in an economic slowdown demonstrates Sical's resilience and its ability to communicate the company's core value proposition of integrated multimodal logistics to its customers, said Ashwin Muthiah, Sical Chairman.

"The business climate might have been extremely tough, but it was also an opportunity for Sical to showcase its differentiated, optimized offering. The fact that we actually increased our margins shows that customers will pay, and pay well, if they see value," Ashwin Muthiah said. "The recent top level board/management changes-of Karthik Menon as Vice Chairman and LR Sridhar as Managing Director--have already made a positive impact at the strategic, operational, and financial levels. Mr Menon and Mr Sridhar are strong performers with a track record of strategic, management, and operational success. They have brought in new vigor and dynamism to Sical," he said.

About Sical

Handler of more than 26 million tonnes of bulk cargo and 500,000 TEUs of containerized cargo annually, Sical Logistics Ltd is India's leading provider of integrated solutions for offshore logistics and multimodal bulk and containerized logistics.

Sical provides end-to-end solutions in:

-- Bulk logistics-stevedoring; port terminals; customs house and shipping agency; trucking; railroad; warehousing.

-- Container logistics-container terminals; ICD; CFS.

-- Offshore logistics-platform supply vessel; cutter suction dredger.

Sical's delivery network includes an exclusive walk-in berth at Chennai for ships carrying bulk cargo; a container terminal at Tuticorin; 225,000 square feet of storage across 17 warehouses; owned and regularly contracted fleet of more than 1000 transport vehicles; container freight stations at 3 locations across India; Sical Torino, a deepwater-capable platform supply vessel, and Sical Portofino, a cutter suction dredger.

To view the Financial Results, click the link below:

Financial Results
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Sical_Fy_09.xls
Sical_Fy_09.xls


CONTACT DETAILS
Richa Tilokani, Sical Logistics, +91 (044) 22350724 /+91 9940164870, richa@sical.com
Dev Chandrasekhar, Ubiquus, +91 9821070043, d.chandrasekhar@ubiquus.com

KEYWORDS
ECONOMY, AUTOMOTIVE, BANKING, BUSINESS SERVICES, COMMODITIES, Financial Analyst, STOCK EXCHANGES, TRANSPORT, AUTOMOTIVE

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