Financial Daily from THE HINDU group of publications
Thursday, Jul 01, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 01, 2004 |
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Corporate
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Announcements Granules India extends fiscal by 3 months Our Bureau
Hyderabad , June 30 GRANULES India Ltd (GIL), a city-based pharmaceutical company specialising in pharmaceutical formulation intermediates in granulated form, has decided to extend its financial year 2003-04 by three more months till June 30. The company took a decision to this effect at a meeting to reflect the results of its newly commenced facility. In a notice, the GIL Chairman, Dr C. Nageshwara Rao, said, "The reason for extending the financial year is that the company's new plant for manufacture of pharmaceutical formulation intermediates has become fully operational since December 2003 and it was thought prudent to reflect the results of at least two quarters performance after the plant has been fully operational so that the shareholders and the investors will have the latest financial position of the company." Further, he said, complying with the Clause 41 of the Listing Agreement, the GIL board has also decided to consider the unaudited financial results for the quarter ended March 31, 2004. Accordingly, the GIL board has decided to meet on July 8.
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