The Board of Directors of GAIL (India) Ltd in its meeting held on June 23, 2008 has recommended issuance of one bonus share for two equity shares held, subject to the requisite approval(s).
The matter will now be put before the shareholders of the Company during its next Annual General Meeting. The paid-up capital of the Company is Rs 845.65 crore and the Reserves and Surplus as on March 31, 2008 were approximately Rs 12,160 crore.
GAIL (India) Ltd recorded sustained performance in all key physical as well as financial parameters in the Financial Year 2007-08. According to the audited figures, the Company recorded a Turnover (excluding internal consumption and net of excise duty) of Rs 18,008 crore in the year 2007-08. The Profit After Tax during the year 2007-08 was Rs 2,601 crore.
The Board of Directors has recommended payment of total dividend at the rate of 100 percent on the paid-up share capital of the Company for FY 2007-08. GAIL is one of the leading public enterprises with a consistently excellent financial track record.
Turnover during the last ten years has shown a compounded annual growth rate of 13 percent. Market capitalization of the Company as on March 31, 2008 reached around Rs 35,000 crore as against Rs 22,372 crore, a year ago. The Earning Per Share (EPS) increased to Rs 30.76 per share in the year 2007-08. The EPS as per consolidated statement was Rs 32.91 per share, while book value has increased to Rs 154 from Rs 134 per share.
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