Midfield Industries Ltd FY2011 PAT to Rs.1255.68 lacs, Declares 20% final Dividend

Hyderabad, July 25, 2011: Hyderabad-based Midfield Industries Ltd., one of the leading manufactures in steel strapping Industry today announced its audited annual results for FY 2010-2011.
Total Income for the year ended March 31, 2011 stands at Rs 13,225.75 lacs, as compared to Rs. 9051.40 lacs in the last year. Net Profit is Rs.1255.68 lacs from Rs 823.80 lacs in 31st March 2010. Total Income for the last quarter of FY 2011 stands at Rs 4244.65 lacs as against Rs.2974.29 lacs in the last fiscal.
The company declared a final dividend of Rs.2/- per share as compared to Rs.Nil per share for the previous year.
Commenting on the results, Mr.Madhu Mohann Reddy as Chairman & Managing Director said, "We are immensely pleased with the results we’ve posted in the financial year 2010-11. The demand for steel has witnessed a steady growth and we have managed to grab a considerable percentage of market share which could be owed to our state of the art technology and impeccable quality control policy.”

About Midfield Industries Ltd.
Midfield Industries is an ISO 9001 certified company, one of the leading manufacturers of Steel Strapping, Seals, packaging tools and accessories in India. Midfield also manufactures Angle boards, edge protectors, collated nail coils and deals in pnuematic nailers and PET Strap. Company is located at Hyderabad (India) and have manufacturing units at Plot No.6, Phase IV Extension, IDA, Jeedimetla and Plot No.4C, Phase IV, IDA, Jeedimetla.
Midfield has manufacturing facility to produce seals which go hand in hand with High Tensile Steel Strapping. Company is having marketing tie-up with M/s Orgapack, Switzerland, who manufacture wide range of Pneumatic Packaging tools. For marketing the Manual tools, has a tie up with M/s Midwest Industries Inc., USA. Midfield also has in house manufacturing facility for strap paint, which is used for captive consumption.
Company's growth has been 30 to 40% for the past four years and has well experienced professionals on the board and management team, with vast experience in the same field.
Company uses state of the art technology in manufacturing for excellent quality and contributes to conserve environment by following eco friendly processes for a greener tomorrow.

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This release was published on openPR.