Piramal Glass Ltd. announced audited standalone and consolidated earnings results for the fourth quarter and full year ended March 31, 2013. On standalone basis, for the quarter, net sales or income from operations was INR 2,642.6 million compared to INR 2,466.5 million a year ago. Profit from operations before other income, finance cost and exceptional items were INR 62.6 million compared to INR 223.9 million a year ago. Loss from ordinary activities before tax was INR 64.2 million compared to profit from ordinary activities before tax of INR 205.5 million a year ago. Net loss was INR 34.0 million or INR 0.42 per basic and diluted share for before and after extraordinary items compared to net profit of INR 146.0 million or INR 1.80 per basic and diluted share for before and after extraordinary items a year ago. For the year, net sales or income from operations was INR 10,154.8 million compared to INR 8,548.0 million a year ago. Profit from operations before other income, finance cost and exceptional items were INR 793.7 million compared to INR 1,655.5 million a year ago. Profit from ordinary activities before tax was INR 62.7 million compared to INR 1,080.4 million a year ago. Net profit was INR 48.4 million or INR 0.60 per basic and diluted share for before and after extraordinary items compared to INR 782.7 million or INR 9.67 per basic and diluted share for before and after extraordinary items a year ago. On consolidated basis, for the quarter, net sales or income from operations was INR 4,385.8 million compared to INR 4,046.5 million a year ago. Profit from operations before other income, finance cost and exceptional items were INR 262.0 million compared to INR 464.5 million a year ago. Profit from ordinary activities before tax was INR 58.5 million compared to INR 329.8 million a year ago. Net profit was INR 72.5 million or INR 0.64 per basic and diluted share for before and after extraordinary items compared to INR 266.0 million or INR 3.10 per basic and diluted share for before and after extraordinary items a year ago. For the year, net sales or income from operations was INR 16,422.6 million compared to INR 14,044.8 million a year ago. Profit from operations before other income, finance cost and exceptional items were INR 1,446.3 million compared to INR 2,276.5 million a year ago. Profit from ordinary activities before tax was INR 403.1 million compared to INR 1,395.3 million a year ago. Net profit was INR 357.7 million or INR 2.68 per basic and diluted share for before and after extraordinary items compared to INR 1,084.6 million or INR 11.85 per basic and diluted share for before and after extraordinary items a year ago.

Piramal Glass Limited announced that the board of directors of the company at its meeting held on April 30, 2013 has recommended dividend of INR 1.00 per equity share of face value of INR 10 that is 10% for the financial year ended March 31, 2013. The dividend on equity shares, if declared by the members at the 15th AGM, will be paid to the members between July 23, 2013 and July 29, 2013. The register of members and share transfer books shall remain closed from July 15, 2013 to July 22, 2013 (both days inclusive). The book closure is for the purpose of payment of dividend for the financial year ended March 31, 2013 and for the annual general meeting of the company.

Piramal Glass Limited has appointed Mr. Shitin Desai as an Independent Director on the Board of the company.