Mumbai based Visagar Polytex, which is engaged into manufacturing, retail and trading of women's ethnic wear has approved a final dividend of 3% for the nine month ended to Mar. 31, 2015.

The company had changed its fiscal year ending period to March from June earlier. The 3% final dividend so declared comes to Rs 0.03 per share and is being given on the expanded capital of 18,46,50,400 equity shares of the company.

In the month of April 2015, the company had issued bonus shares in the ratio of 10:1 (i.e. 10 (ten) equity shares of a face value of Rs. 1/- each for every existing 1 (one) equity share of Rs. 1/-).

Tilokchand Kothari, CMD, Visagar Polytex said, ''We are pleased to announce the dividend and we continue to maintain a consistent dividend track record for the last ten years thus creating value for our shareholders.''

For the Q1FY16, the company's revenues stood at Rs. 22.33 crore, up 20.12% compared to Rs. 18.59 crore in the same quarter last year. The company's net profit witnessed 26.26% growth at Rs 12.5 million vis-à-vis Rs 0.99 crore for the quarter ended June FY15.

The EPS of the company stood at Rs 0.07 for face value of Re 1 a share for the quarter ended June 2015.

The company markets its products under the brand name VIVIDHA and currently has a 2000 square feet flagship store in Kolkata. The company also recently opened VIVIDHA showroom in Jaipur to provide a premium shopping experience.

The company currently has 13 stores in Rajasthan, West Bengal and Gujarat and also has wholesale presence in about 1500 stores.