ASIAN PAINTS
Article Abstract:
Despite a recession in the paints industry, the Rs1,000- crore Asian Paints recorded a 22 percent growth in its bottomline. Its gross turnover exceeded Rs1,000 crore. Among the factors contributing to the good performance are the increase in net sales by 8.6 percent and the other income which more than doubled at Rs19.12 crore. Asian Paints also reduced its interest burden. Its operating margins improved to 17.5 percent because of a reduction in prices of input chemicals. The company has chalked up plans to enhance capacity to 165,000 tonnes per annum from 119,000 tonnes per annum. For the future, it may be unable to maintain its 10 percent growth due to a slowdown in both the construction and auto segments. (uh) ------------------------------------------------------------ Asian Paints: Financial Results (in Rs crore) ------------------------------------------------------------ Particulars March 1998 March 1997 ------------------------------------------------------------ Sales 800.34 737.19 ------------------------------------------------------------ Other Income 19.12 7.55 ------------------------------------------------------------ Interest 19.58 21.68 ------------------------------------------------------------ Gross Profit 117.48 97.49 ------------------------------------------------------------ Depreciation 16.98 12.11 ------------------------------------------------------------ Profit Before Tax 100.49 85.39 ------------------------------------------------------------ Net Profit 67.49 55.39 ------------------------------------------------------------ Equity Capital 40.11 40.11 ------------------------------------------------------------
Comment:
Records 22% growth in its bottomline, w/ gross turnover exceeding Rs1,000 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ASIAN PAINTS POSTS 22% RISE IN NET
Article Abstract:
Asian Paints Ltd, a leading paints manufacturing company, has posted a 22 percent increase in its net profit to Rs67.49 crore in 1997-98 as compared to Rs17.09 crore in 1996-97. (gs) ------------------------------------------------------------ Performance of Asian Paints Ltd (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Gross sales 1,019.08 937.76 ------------------------------------------------------------ Other Income 19.12 7.55 ------------------------------------------------------------ Total Expenditure 682.40 625.57 ------------------------------------------------------------ Interest 19.58 21.68 ------------------------------------------------------------ Gross Profit 117.48 97.49 ------------------------------------------------------------ Depreciation 16.98 12.11 ------------------------------------------------------------ Provision for tax 33.00 30.00 ------------------------------------------------------------ Net Profit 67.49 55.38 ------------------------------------------------------------
Comment:
Leading paints mfg company posts 22% increase in its net profit to Rs67.49 crore in 1997-98 vs Rs17.09 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICI PAINTS ROSY PICTURE WITH 20% RISE IN NET
Article Abstract:
ICI India Ltd has increased its net profit by 20 percent to Rs50.51 crore in 1997-98. Its net sales has increased to Rs743 crore from Rs669 crore in 1996-97. Its operating profits were Rs108 crore against Rs92 crore while interest was Rs20 crore against Rs13.5 crore. Its paint volumes grew by 19 percent, explosives by 17 percent and surfactants by 18 percent while polyurethanes showed a sales growth of 80 percent. The company commissioned a 20 million litres paints unit at Mohali in March 1998 and completed capital investments of Rs100 crore in 1997-98. It has recommended a dividend of 50 percent for 1997-98 against 45 percent in 1996-97. (khr)
Comment:
Reports increase in net profit by 20% to Rs50.51 crore in 1997-98 & rise in net sales to Rs743 crore from Rs669 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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