MARUTI INDUSTRIAL CARBOHYDRATES - DISMAL PERFORMANCE
Article Abstract:
Maruti Industrial Carbohydrates Ltd (MICL) of Chennai manufactures sodium carboxy methyl cellulose (CMC) and CMC-coated micro crystalline cellulose. It failed to realise its projected targets envisaged in the 1995 public issue. The Rs3.25 crore issue was made in January 1995 to part-finance the project and repay short-term loans. The expenses of the public issue was more than 10 percent of the issue size and the project was delayed by 5 months. MICL made a net profit of Rs0.47 crore in 1995-96 against Rs1.36 crore projected in the issue. In 1996-97, its sales were Rs5.47 crore against the targeted Rs9.72 crore. Its net profit fell to around Rs0.40 crore. Now, the MICL scrip is illiquid. It was last traded in June 1997 at Rs2.75. (gsh)
Comment:
Manufactures sodium carboxymethyl cellulose and CMC-coated micro crystalline cellulose
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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CLARIANT
Article Abstract:
Clariant develops, manufactures and markets dyes and speciality chemicals, pigments and masterbatches for processing and finishing of textiles. It is a leader in leather dyes and textile chemicals. It is a multi-national company. (tsm) (kvr)
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1999
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