GLAXO INDIA: THE TONIC
Article Abstract:
Glaxo India Ltd (GIL)has sold its food and family products division to HJ Heinz of Germany. The food and family products division accounts for 23 percent of the total revenue. GIL has restructured its business and increased its outsourcing. It closed down 22 depots. Glaxo Allenbury, which sells life saving drugs posted a 14 percent higher income in 1997. Its sales increased by 8.2 percent. Glaxo Pharma, a trading division which deals in self medication drugs recorded a negative growth rate. GIL has 40 percent market share for its anti-ulcer drug, Ranitidine. Betnovate and Betnesol, both cortico-steroids account for 6-8 percent of its sales. Other brands include Cobadex Forte and Zentac. New products account for 10 percent of total sales. The merger with Biddle Sawyer will enable the company to launch value added products. It plans to pursue mergers and acquisitions. Its share is priced at Rs403. (rk) ------------------------------------------------------------ Financial Performance of Glaxo India Ltd (Rs in million) ------------------------------------------------------------ Year ended Year ended Particulars December 1996 December 1997 ------------------------------------------------------------ Net sales 6,456.30 6,943.80 ------------------------------------------------------------ Other income 314.80 311.80 ------------------------------------------------------------ Operating profit 1,051.40 967.30 ------------------------------------------------------------ Interest 100.80 112.40 ------------------------------------------------------------ Depreciation 120.10 133.30 ------------------------------------------------------------ Tax 351.50 309.60 ------------------------------------------------------------ Net profit 479.00 412.00 ------------------------------------------------------------ Equity 597.80 597.80 ------------------------------------------------------------ Earnings per share(Rs) 8.01 6.24 ------------------------------------------------------------
Comment:
Acquires food and family products division of Glaxo India
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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BEST BUYS IN A FALLING MARKET: NESTLE
Article Abstract:
Nestle India Ltd (NIL) produces infant foods, instant coffee, milk products, noodles, chocolates, confectionery and semi- processed foods. NIL is the subsidiary of Nestle of Switzerland. Its brands include Nestum baby foods, Nescafe, Maggi noodles, sauces, soups and pickles and confectionery items like Kitkat, Bar-One Crunch and Polo. During 1997, its net profit increased by 37 percent. Nestle has invested Rs3.5 billion for expansion and upgradation. It plans to focus on chocolates, confectionery and culinary items in the next three years. Its scrip is currently priced at Rs339. (uh)
Comment:
Produces infant foods, instant coffee, milk prods, noodles, chocolates, confectionery & semi-processed foods; co profile
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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FINOLEX GROUP: MISPLACED INTERESTS!!
Article Abstract:
Finolex Cables of the Finolex Group has planned to hive off its telephone cables division into a separate company. Finolex Industries has seen its scrip value come down to Rs23 from Rs135 on the Bombay Stock Exchange. The company achieved a capacity utilisation of about 80 percent in its PVC pipes division in 1997. The company showed a net profit of Rs22.6 million for the six months ended September 1997 which works out to an annualised earnings per share of 30 paise. (khr)
Comment:
Plans to hive off its telephone cables division, Finolex Industries, into a separate co
Publication Name: Financial Express Investment Week
Subject: Business, international
ISSN: 0015-2005
Year: 1998
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