OSWAL CHEMICALS & FERTILIZERS LIMITED
Article Abstract:
Oswal Chemicals & Fertilizers Ltd of New Delhi has declared its audited financial results for the year ended March 31, 1998. It has recommended a 40 percent dividend for 1997-98 against a dividend of 23 percent in 1996-97. The company's 1.92 million tonnes per annum Phosphatic Fertilizer Project at Paradeep in Orissa is likely to start production in September 1999. (khr) --------------------------------------------------------- Audited Financial Results of Oswal Chemicals & Fertilizers Ltd (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Sales and other income 743.61 683.45 --------------------------------------------------------- Total expenditure 360.01 341.13 --------------------------------------------------------- Interest 95.82 101.75 --------------------------------------------------------- Gross profit after interest 287.78 240.57 --------------------------------------------------------- Depreciation 187.68 202.51 --------------------------------------------------------- Tax 4.28 - --------------------------------------------------------- Net profit 95.82 38.06 --------------------------------------------------------- Equity share capital 227.41 227.41 --------------------------------------------------------- Reserves 479.46 507.20 ---------------------------------------------------------
Comment:
Reports increase in net profit to Rs95.82 crore in year ending 3/31/98, as against Rs38.06 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HIND LEVER PREF OFFER AT Rs375, HLL STAKE TO FALL
Article Abstract:
Hind Lever Chemicals Ltd, a producer of fertilisers and chemicals, plans to privately place 22.5 lakh preferential shares at Rs375 each. These shares will be offered to both Indian and international institutional investors, including the Indian financial institutions. The stake of Hindustan Lever Ltd in Hind Lever Chemicals Ltd will fall to 50 percent from 59.6 percent after the proposed Rs84.40 crore issue. Post-issue, the equity capital of Hind Lever Chemicals Ltd will be around Rs13.81 crore (Rs11.56 crore now). Hind Lever Chemicals Ltd will be using the funds raised to part-finance its 2 fertiliser plants and a sulphuric acid plant being set up at a cost of Rs120 crore. (ag/kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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