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Our Bureau

Chennai , May 26

SHASUN Chemicals and Drugs Ltd has reported a net profit of Rs 31.04 crore for 2004-05, compared to Rs 25.49 crore for the previous year.

The company's board of directors has recommended a dividend of Rs 7.50 a share, against Rs 6 paid in the previous year.

The board has also recommended a hike in FII holding to 30 per cent and a split in the face value of shares to Rs 2 each from Rs 10 each.

Turnover for the year was up 29 per cent at Rs 337.33 crore (Rs 282.44 crore).

The new formulation facility, built at a cost of Rs 44 crore, is operation-ready. "It would predominantly cater to contract manufacturing for regulated overseas partners."

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