GKB OPHTHALMICS - NOT EYEING THE MARKET PROPERLY
Article Abstract:
The 100 percent export-oriented lens manufacturer, GKB Ophthalmics (GO), raised Rs4.03 crore through a public issue in April 1996 to expand its single vision lens production capacity from 13 lakh pieces to 33 lakh pieces at its ophthalmic lens plant in Tivim Industrial Estate in Goa. The issue was made under depressed market conditions at a premium of Rs25. At the time of the issue, GO had already implemented a capacity expansion plan of 20 lakh pieces. It had also proposed to install facilities for coating 1.72 lakh pieces per annum. For the expansion project, the promoters contributed Rs0.07 crore as equity and GO brought in Rs2.17 crore. The rest of the money was raised from the public issue. Commercial production was to begin in July 1996. But GKB failed to generate enough volumes. Consequently, it could not realise its targets set at the time of the issue. Against the projected total income of Rs12.29 crore for 1996-97, GO could earn Rs10.08 crore. Its interest was Rs0.75 crore, against the projected Rs0.44 crore. Its operating profit was Rs1.12 crore, against the projected Rs3.55 crore. Its net profit was Rs0.07 crore, against the projected Rs3.01 crore. In 1997-98 also, its net income was Rs9.89 crore, against the projected Rs13.74 crore and the net profit Rs0.44 crore. (gsh)
Comment:
Posts net income of Rs9.89 crore, against the projected Rs13.74 crore & the net profit Rs0.44 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SMITHKLINE'S NET CLIMBS
Article Abstract:
Smithkline Beecham Consumer Healthcare Ltd (SBCH) has posted an improved performance during January-September, 1998. During this nine-month period, sales peaked to Rs491 crore (Rs421 crore during January-September, 1997) while the total expenditure was around Rs411 crore (Rs357 crore). It posted a net profit margin of 11.32 percent (10.69 percent) and a net profit of Rs55.6 crore (Rs43.3 crore). SBCH gained mostly from Horlicks, its flagship brand as the brand was able to foray into the rural markets. It has also gained from its efforts to raise the penetration of its ENO brand into the rural markets. Currently, Horlicks and Boost hold a 40 percent share in the malted food drinks market. These brands account for 90 percent of SBCH's sales. SBCH proposes to raise its advertising budget for the ENO brand during 1997, to raise its presence in the market. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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