POLICY CHANGES, COST CUTTING AND VOLUMES MAKE THEIR MARK: HEG Ltd
Article Abstract:
HEG Ltd, of the LN Jhunjunwala group, is a producer of graphite electrodes. It also has a presence in power generation, sponge iron and textiles. It expanded the capacity of its electrode graphite unit to 24,000 tonnes per annum (tpa) from 21,000 tpa in 1996-97. The company's market share had been eroded in recent years due to imports from China, western Europe and USA, but an anti-dumping duty imposed in 1997-98 helped it to recover. Its exports increased by 81 percent to Rs202.68 crore in 1997-98 from Rs112.37 crore in 1996-97. Although HEG Ltd is strong in the graphite electrodes segment, its diversification into yarns and textiles did not fare well due to the rising cost of cotton. The company has an equity share capital of Rs75.09 crore. (khr) ------------------------------------------------------------ Financial Results of HEG Ltd ------------------------------------------------------------ Particulars Year ended March (Rs in crore) 1998 1997 ------------------------------------------------------------ Net sales 415.50 293.00 ------------------------------------------------------------ Expenditure 324.66 242.75 ------------------------------------------------------------ Interest 45.73 25.32 ------------------------------------------------------------ Gross profit 51.65 39.57 ------------------------------------------------------------ Depreciation 18.51 14.14 ------------------------------------------------------------ Tax 2.64 3.26 ------------------------------------------------------------ Net profit 30.51 22.17 ------------------------------------------------------------ Equity 40.31 40.31 ------------------------------------------------------------ Reserves 138.65 116.44 ------------------------------------------------------------
Comment:
Posts net profit of Rs22.17 crore in 1998 vs Rs30.51 crore in 1997
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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HEG LIMITED
Article Abstract:
HEG Limited of Mandideep in Madhya Pradesh is a producer and exporter of graphite electrodes. It has announced its audited financial results for the year ended March 31, 1998. Its export turnover increased by 81 percent in 1997-98. It commissioned 2 captive power plants, totally producing 26 mw in 1997-98. It has recommended a dividend of 18 percent for 1997-98 against 15 percent in 1996-97. (khr) ------------------------------------------------------------ Audited financial results of HEG Ltd ------------------------------------------------------------ Particulars Year ended March 31 (Rs in crore) 1998 1997 ------------------------------------------------------------ Net sales 415.50 293.00 ------------------------------------------------------------ Other income 6.54 14.64 ------------------------------------------------------------ Expenditure 324.66 242.75 ------------------------------------------------------------ Interest 45.73 25.32 ------------------------------------------------------------ Post-interest 51.65 39.57 gross profit ------------------------------------------------------------ Depreciation 18.51 14.14 ------------------------------------------------------------ Tax 2.64 3.26 ------------------------------------------------------------ Net profit 30.51 22.17 ------------------------------------------------------------ Equity 40.31 40.31 ------------------------------------------------------------ EPS (Rs) 7.49 5.42 ------------------------------------------------------------ Cash EPS (Rs) 12.08 8.94 ------------------------------------------------------------ Reserves 138.65 116.44 ------------------------------------------------------------
Comment:
Posts net profit of Rs30.51 crore in 1997-98 vs Rs22.17 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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EIH LIMITED
Article Abstract:
EIH Limited of Calcutta has announced its unaudited financial results for the 3 months ended June 30, 1998. It is involved in hotel business. (gs) --------------------------------------------------------- Unaudited financial performance of EIH Limited (Rs in crore) --------------------------------------------------------- Particulars 3 months ended June 30 Year ended 1998 1997 31/3/1998 --------------------------------------------------------- Net sales 102.35 102.94 431.68 --------------------------------------------------------- Other income 6.82 6.61 37.68 --------------------------------------------------------- Expenditure 79.45 78.15 302.03 --------------------------------------------------------- Interest 3.16 3.28 13.89 --------------------------------------------------------- Post-interest gross profit 26.56 28.12 153.44 --------------------------------------------------------- Depreciation 4.65 2.95 20.41 --------------------------------------------------------- Tax 2.40 3.92 9.78 --------------------------------------------------------- Net profit 19.51 21.25 123.25 --------------------------------------------------------- Equity 52.39 52.39 52.39 --------------------------------------------------------- Reserves - - 577.93 ---------------------------------------------------------
Comment:
Posts net sales of Rs431.68 crore for FY 1997-1998
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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