Indo National to pay 80 p.c.

Indo National, belonging to the Chennai-based Obul Reddy group, and manufacturers of Nippo brand dry cell batteries, has achieved a turnover of Rs. 262.22 crores for the year ended March 31, 2000 against Rs. 230.11 crores in the previous year. The sales volume increased by 16 per cent to 578 million pieces despite difficult market conditions and competition from new entrants into the field.

The net profit before depreciation has risen by 12 per cent to Rs. 30.84 crores from Rs. 27.63 crores. The amount set aside for depreciation is higher at Rs. 7.13 crores (Rs. 5.12 crores) and taxation Rs. 8.35 crores (Rs. 7 crores). The net profit has declined marginally to Rs. 15.50 crores from Rs. 16.79 crores.

Net earnings work out to Rs. 40.97 per share. A dividend of 80 per cent has been recommended against 70 per cent paid in the previous year.

The company has recently launched a mercury free battery in the UM-3 size (pencil cell).

Indo Matsushita

Carbon

Indo Matsushita Carbon Company belonging to the same group and engaged in the manufacture of carbon rods in technical and financial collaboration with Matsushita of Japan, has increased its sales by 20 per cent to 2,207 million pieces. The turnover has risen by 16 per cent to Rs. 43.42 crores from Rs. 37.23 crores and the net profit before depreciation and taxation by 20.8 per cent to Rs. 11.53 crores from Rs. 9.54 crores.

Depreciation claimed Rs. 1.95 crores (Rs. 1.98 crores) and taxation Rs. 6.42 lakhs (Rs. 23,000). The net profit has increased by 18.9 per cent to Rs. 6.74 crores from Rs. 5.66 crores.

Net earnings per share work out to Rs. 13.90 (Rs. 11.81). The equity dividend has been maintained at 35 per cent.

Silicon Automation

Systems

Silicon Automation Systems (SAS) has reported a 61 per cent increase in total revenues to Rs. 75.90 crores in the year ended March 31, 2000 against Rs. 47 crores. The net profit has risen by 22 percent to Rs. 14.90 crores from Rs. 12.20 crores.

The company spent almost four per cent of its revenues on research and development. One of the milestones of the year has been Intel's investment in SAS.

Founded in 1989, SAS has a business proposition that is fucussed on the `Internet Access' market.

Lupin Laboratories

Lupin Laboratories has announced a net profit of Rs. 12.05 crores for the quarter ended March 2000 against Rs. 3.14 crores in the corresponding period last year. For the quarter, the company's sales were Rs. 158.01 crores (Rs. 148.07 crores) while other income was Rs. 46 lakhs (same). Total expenditure during the period was Rs. 130.1 crores (Rs. 128.18 crores).

The profit before interest, deprecation and tax, for the quarter was Rs. 28.37 crores (Rs. 20.34 crores). It provided Rs. 13.04 crores (Rs. 14.07 crores) for interest, Rs. 3.28 crores (Rs. 3.13 crores) for depreciation and nil (nil) for tax.

For the nine months ended March 31, 2000, the company announced a net profit of Rs. 37.71 crores against Rs. 22.01 crores in the corresponding period last year. Sales were Rs. 837.4 crores (Rs. 516.78 crores) and other income was Rs. 1.97 crores (Rs. 1.39 crores). The total expenditure for the period was Rs. 452.58 crores (Rs. 448.43 crores).

The profit before interest, depreciation and tax amounted to Rs. 86.79 crores (Rs. 69.74 crores). The company provided Rs. 39.61 crores (Rs. 38.45 crores) for interest, Rs. 9.47 crores (Rs. 9.28 crores) for depreciation and nil (nil) for tax.

Mastek

Software major Mastek has decided to raise funds through an American Depository Receipts (ADRs) issue, against an initial public offering (IPO) by its U.S.-subsidiary Majesco Software, Inc.

``The details of the ADR issue by Mastek will be announced later", Mastek chairman, Mr. Ashank Desai, said after the company's board meeting.

The group (Mastek and its U.S., U.K., and Asia-Pacific subsidiaries), which posted a 264 per cent rise in net profit at Rs. 8.01 crores for third quarter ended March 2000, has declared an interim dividend of 30 per cent, he said.

The group posted a 74 per cent growth in its total income at Rs. 67.15 crores during the quarter, he added.

The company's net profit for the nine months ended March 2000 zoomed to Rs. 21.93 crores on a total income of Rs. 188.74 crores, a rise of 75 per cent, he added.

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