Financial Daily from THE HINDU group of publications
Friday, May 28, 2004
Financial Daily from THE HINDU group of publications Friday, May 28, 2004 |
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Corporate Results
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Chemicals Clariant posts Rs 20.85-cr net Our Bureau
Mumbai , May 27 CLARIANT (India) Ltd has posted a net profit of Rs 20.85 crore for the year ended March 31 over Rs 19.58 crore in the year ago period. Its sales turnover (net of excise) slipped to Rs 316.8 crore (Rs 318.9 crore). According to a company press release, while the growth in domestic sales was 8.4 per cent, export sales recorded negative growth of 17 per cent over the previous year due to adverse marketing conditions prevailing globally. The company grew 11 per cent in leather dyes and remains a front runner in textile chemicals, growing 6 per cent over previous year. Paper dyes & chemicals and master batches grew 42 per cent and 25 per cent respectively over the previous year. The company improved its operating profit margins from 10.6 per cent in the previous year to 11 per cent of sales this year despite rising input costs. The board has recommended a final dividend of Rs 6 per share. Considering the interim dividend of Rs 5 already paid in November 2003, this makes it a total dividend of 110 per cent compared to 100 per cent paid in the previous year. The dividend together with tax payable thereon gives the highest ever payout of 71 per cent of net profit for the year.
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