WIMCO LIMITED
Article Abstract:
Wimco Limited, Mumbai, posted a net loss of Rs1,518 lakh for 1997- 98. The company's performance has been affected by increased excise duty levied on matches. Loss on foreign currency loans totaled Rs149.96 lakh. Wimco has suspended production at its timber based unit at Dhubri in Assam. (gsh) ------------------------------------------------------------ Unaudited Financial Results of Wimco Limited (Rs in lakh) ------------------------------------------------------------ Particulars 2H 1997-98 2H 1996-97 1997-98 ------------------------------------------------------------ Net Sales/Income 10,938 10,881 21,168 ------------------------------------------------------------ Other Income 452 479 604 ------------------------------------------------------------ Total Expenditure 10,685 10,037 20,967 ------------------------------------------------------------ Gross Profit 705 1,323 805 ------------------------------------------------------------ Interest 580 609 1,131 ------------------------------------------------------------ Depreciation 86 115 177 ------------------------------------------------------------ Net Profit/(loss) before extraordinary items 39 599 (503) ------------------------------------------------------------ Net Profit/(loss) after extraordinary items (974) 594 (1,518) ------------------------------------------------------------ Net Profit/(loss) (974) 444 (1,518) ------------------------------------------------------------ Paid-up equity capital 2,987 2,987 2,987 ------------------------------------------------------------
Comment:
Posts net loss of Rs1,518 lakh for 1997- 98, due to increased excise duty levied on matches
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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WIMCO LAPS UP DUTY CUT ON SAFETY MATCHES
Article Abstract:
With the Union Budget 1998-99 announcing a duty cut on safety matches from Rs2.70 to Rs2.40 per 100 boxes, Wimco, the only matches producer in the mechanised sector, has got a relief of 30 paise per 100 boxes. The duty cut has come at a time when the multinational company, Swedish Match Company, acquired majority stake in Wimco to consolidate its position in the core business. The excise duty in semi-mechanised sector has been reduced from Rs10 to Rs1.25 and for those in the middle-sector has duty is pegged at 85 paise (Rs0.85) against Rs1.00 and the players in the cottage sector have to pay just 25 paise (Rs0.25) per 100 boxes against 50 paise (Rs0.50) at present. (gsh)
Comment:
Match producer gets duty cut of 30 paise per 100 boxes
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BPIL TARGETS Rs100 CR TURNOVER BY 2000-END
Article Abstract:
Banner Pharmacaps India Pvt Ltd (BPI) has projected a turnover of Rs100 crore by the end of 2000 AD. Currently, it has a turnover of Rs30 crore. It hopes to capture a 40 percent share in the soft gelatine capsule market in India over the next two years. BPI is a joint venture of Banner Pharmacaps of USA and Mr Vikram Tannan. BPI has set up a Rs45 crore manufacturing unit at Attibele near Bangalore. It owns a factory at Gujarat which has a capacity of one billion capsules per year. (gs)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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