The Hindu : 1:1 bonus from Marico

Online edition of India's National Newspaper
Friday, Apr 19, 2002

Business

Business

1:1 bonus from Marico

By Our Staff Correspondent

MUMBAI APRIL 18. Marico Industries has announced a net profit of Rs 50.10 crores for the year ended March 2002 against Rs. 45.80 crores in the previous year. The directors have proposed to issue one fully paid bonus share of Rs. 10 each for every existing share of Rs. 10 (1:1). The board also declared a fourth interim dividend of 50 per cent. With this, the aggregate of interim dividends declared during the year amounts to 140 per cent. The company achieved a turnover of Rs. 696 crores against Rs. 671 crores.

It provided Rs. 14.20 crores (Rs. 8.90 crores) for depreciation, Rs. 4.10 crores (Rs. 3.50 crores) for interest, Rs. 4.90 crores (Rs. 4.30 crores) for current tax and Rs. 2.90 crores (nil) for deferred tax.

Marico's premium brand, Parachute has seen its market share go up to 55.4 per cent.

For the quarter ended March 2002, its net profit was Rs. 12.50 crores (Rs. 10.70 crores) on a turnover of Rs. 189 crores (Rs. 183.30 crores). The company provided Rs. 6.50 crores (Rs. 1.90 crores) for depreciation, Rs. 70 lakhs (same) for interest, Rs. 1.40 crores (Rs. 60 lakhs) for current tax and Rs. 40 lakhs (nil) for deferred tax.

Harsh Mariwala, managing director, Marico, said the company was exporting its products to SAARC and West Asian countries and exports constituted almost 7 per cent of the turnover of the company, shipments include only branded products.

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