The board of directors of Supreme Petrochem, to be held on Aug. 9, 2007, will consider recommendation of dividend on equity shares of the company.
Principle approval for the merger of its subsidiary SPL Polymers will be considered by the board at the same meeting along with appointment of valuers for valuation of the shares to determine the share exchange ratio.
Supreme Petrochem had disclosed a decline in net profit for the quarter ended March 2007. During the quarter, the company saw fall in profit to Rs 91.64 mln from Rs 97.28 mln in the same quarter, last year. Sales for the quarter declined 10.04% to Rs 3,853.67 million compared with the corresponding quarter, a year ago.