IP Rings pays 10 p.c final

IP Rings has announced a final dividend of 10 per cent for the year ended March 31, 2000, making with the interim, a total of 25 per cent against 15 per cent in 1998-99. The turnover has risen by 16 per cent to Rs. 32.97 crores from Rs. 28.47 crores and the gross profit, before depreciation and interest charges by 19 per cent to Rs. 6.93 crores from Rs. 5.80 crores.

The profit before tax is higher by 34.7 per cent at Rs. 4.04 crores against Rs. 3 crores. Interest charges claimed Rs. 36.59 lakhs (Rs. 47.38 lakhs). The net profit has increased by 37.4 per cent to Rs. 3.23 crores from Rs. 2.35 crores.

Universal Print Systems

Universal Print Systems has reported a sharp increase in sales to Rs. 14.06 crores in the year ended March 31, 2000 from Rs. 11.46 crores. The labels division has been a major contributor accounting for Rs. 3.61 crores (Rs. 1.62 crores). This division has cornered a string of awards internationally thus expanding its customer base multi-fold.

The gross profit before depreciation and interest charges has risen by 43 per cent to Rs. 2.80 crores from Rs. 1.95 crores. Interest charges claimed Rs. 64.96 lakhs (Rs. 63.44 lakhs) and depreciation Rs. 41.20 lakhs (Rs. 34.89 lakhs). After providing for taxation of Rs. 21 lakhs (Rs. 10.25 lakhs), the net profit has risen impressively to Rs. 152.88 lakhs from Rs. 86.52 lakhs.

A dividend of 12.5 per cent has been announced against 10 per cent in the previous year. Net earnings work out to Rs. 3.05 per share (Rs. 1.37 in the previous year).

Birla Yamaha

Birla Yamaha has posted a marginal increase in net profit at Rs. 6.28 crores for the year ended March 31, 2000 and declared a 11 per cent dividend (Rs. 1.10 per equity share). The company has posted a turnover of Rs. 69.57 crores (Rs. 69.37 crores) with a sales of 37,985 units of gensets, the company said in a release.The profit before tax for the year stood at Rs. 10.13 crores, it said adding reserves and surplus stood at Rs. 40.68 crores against an equity capital base of Rs. 10.48 crores.

Escotel

Escotel, the leading cellular operator in Kerala, Haryana and Uttar Pradesh (West), today announced that it had registered a growth of 36 per cent in its subscriber base in the first quarter of 2000-01.

While the data circulated by the COAI (Cellular Operators Association of India) shows a growth of only 8 per cent in the first two months of the current fiscal, Escorts' subscriber base grew by 16 per cent.

According to a senior company manager, Mr. Rajiv Burman, ``after the disappointment of non-implementation of free incoming calls (CPP) for cellular subscribers, we could either wait for external factors to grow the industry or as a company strive to make it happen on our own.'' Encouraged by the example of China where cellular growth has been booming in spite of CPP not being present, the company reduced the cost perception of prepaid on all fronts, entry costs as well as usage costs.

State Bank of Indore

The net profit of State Bank of Indore has risen sharply to Rs. 45.25 crores in the year ended March 31, 2000 from Rs. 31.04 crores. During the year the bank achieved an impressive growth in deposits and advances.

As on March 31, 2000 deposits have risen by 26.53 per cent to Rs. 5,096.37 crores from Rs. 4,027.90 crores. Advances have increased handsomely by 34.02 per cent to Rs. 2,841.53 crores from Rs. 2,120.29 crores against the growth rate of 17.7 per cent reported by all scheduled commercial banks. The outstanding finance to priority sector stood at Rs. 1,164 crores against Rs. 931.89 crores constituting 43.22 per cent of net bank credit. Over 73.94 per cent of deposits and 61.75 per cent of advances pertained to the bank's branches in Madhya Pradesh. During the year under reference the bank opened 11 new branches taking the total to 340 in that State out of a total of 400 branches.

Investments were higher by 27.60 per cent at Rs. 2,400.80 crores against Rs. 1,881.45 crores. As on March 31, 2000 the percentage of net non performing assets to bank's net advances came down to 7.55 per cent from 10.10 per cent in the previous year. The bank is making concerted efforts for recovery of NPAs.

Greaves

Greaves, a Thapar group company, has reported Rs. 35.7 crores loss in 1999-2000 against a profit of Rs. 5.3 crores in the previous year. The turnover also declined marginally by 1.8 per cent to Rs. 672 crores from Rs. 684 crores in the previous year.

The loss is due to increase in material cost, employee costs and miscellaneous expenditure, according to a company release.

The company, which is operating mainly in the capital goods and infrastructure sector, has embarked on a restructuring plan to refocus on core competencies, improve market share, cut down costs and improve margins. A restructuring committee has been constituted for this purpose at the board level and Price Waterhouse Coopers will be engaged to give expert advice in this regard.

Scooters India

Scooters India, a Government of India Enterprise, has posted a 10 per cent increase in net profit at Rs. 6.8 crores in the year ended March 31, 2000 against Rs. 6.2 crores in the previous year.

The company has reported profits for the fourth consecutive year and is credited with being one of the first PSEs to be taken out of BIFR following the turnaround.

The sales turnover has risen marginally to Rs. 136 crores from Rs. 132 crores. The company, engaged in the manufacture of Vikram range of three wheelers, has wiped out completely the accumulated losses.

LG Electronics

LG Electronics has achieved a turnover of Rs. 935 crores in the first half of calendar 2000 as against Rs. 503 crores in the corresponding period last year. The better-than-expected performance has led to the company to revise its annual sales target to Rs. 1,750 crores from Rs. 1,500 crores.

As per the strategy drawn up the company, more thrust will be given to the consumer electronics segment so that its share to the company's income is equal to that from the home appliances segment. So far the contributions from the two have been 40 and 60 per cent, respectively.

Torrent Pharma

The board of directors of Torrent Pharmaceuticals (TPL) has declared a dividend of 101 per cent on the back of a Rs. 71 crore profit after tax for the year ended March 31, 2000. The company's success emanates from execution of a Rs. 90 crore export order from Russia.

TPL is also planning to acquire certain companies and brands, company chairman Mr. Sudhir Mehta, said. ``In fact, we have already roped in Boston consulting group to study and identify our acquisition plans'', he said.

The company has also invested Rs. 55 crores in expansion and modernisation and is also planning to boost its exports in select regulated countries as well.

TPL would dedicate 6 to 8 per cent of its sales on research and development focussing on novel drug delivery system, ethical allopathic retail market and enter the higher end of the institutional market, Mr. Mehta said.

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