BERGER PAINTS - GLOSSY WITH BONUS
Article Abstract:
Berger Paints (BP), a producer of paints, has offered 1:1 bonus shares to its shareholders. The bonus issue will dilute the equity further. In the last 2 years, the equity of BP has grown to Rs11.70 crore from Rs5.87 crore. After the bonus issue, the capital of BP will increase to Rs23.40 crore. The dilution of equity will affect the earnings as BP is not executing any expansion programmes. Any rise in volumes has to come through consolidation of its capacities. Now, BP has a capacity to produce 10,222 million tonnes per annum (mtpa) of synthetic resins and 3,200 mtpa of paints at its Howrah and Pondicherry plants. (ag) --------------------------------------------------------- Financial performance of Berger Paints --------------------------------------------------------- Particulars 1997-98 1996-97 (Rs in crore) --------------------------------------------------------- Gross sales 348.59 311.54 --------------------------------------------------------- Other income 2.20 1.68 --------------------------------------------------------- Operating profit 32.13 29.55 --------------------------------------------------------- Interest 4.41 5.83 --------------------------------------------------------- Depreciation 3.33 1.66 --------------------------------------------------------- Net profit 18.24 14.29 --------------------------------------------------------- Equity 11.70 8.81 --------------------------------------------------------- Reserves 68.44 50.32 --------------------------------------------------------- EPS (Rs) 15.58 16.22 --------------------------------------------------------- Dividend (%) 70.00 60.00 ---------------------------------------------------------
Comment:
Offers 1:1 bonus shares to shareholders which will dilute equity further
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
PAINTING A UNIFORM PICTURE
Article Abstract:
Paints are expected to be slightly cheaper as a large section of the industry plans to pass on the cut in excise duty from 18 percent to 16 percent to consumers. But the 5-6 percent reduction in import duty for titanium dioxide will not be passed on to users as it will be used to offset the increase of other inputs and diesel. The duty on imported paints has been raised to 38.5 percent, which includes a 10 percent surcharge. (khr)
Comment:
Paints are expected to be slightly cheaper as a large section of the industry plans to pass on the cut in excise duty from 18 percent to 16 percent to consumers.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: SBICI NET PROFIT INCREASES 179% CVCF IN TALKS WITH SIDBI FOR FUNDING THIRD CORPUS. SIDBI NET PROFIT UP BY 28.2%
- Abstracts: ICRA DOWNGRADES MYSORE PAPER, PUTS TWO MORE ON RATING WATCH ICRA DOWNGRADES TFCI, CALLS FOR CAPITAL INFUSION. ICRA ASSIGNS `MAAA' RATING TO SUNDARAM FIN
- Abstracts: GOVT SETS FLOOR PRICES FOR SECONDS STEEL. ARKONAM CASTINGS TO SELL OFF FOUNDRY
- Abstracts: RAIN INDUSTRIES FIRMS UP PLANS FOR $1.95-BN PROJECT STPI TO SET UP EARTH STATION IN MYSORE GOVERNMENT INITIATIVE AT CHIKHALI
- Abstracts: INPUT COSTS FOR CEMENT MANUFACTURING RISE SUBSTANTIALLY BY Rs11 PER BAG CEMENT Cos SET TO RIDE BOOM