Camlin profits up 124

Announcing the results at a press conference here, Subash Dandekar, chairman, said the company was targeting sales of Rs 500 crore by 2000. Most of the investment would be in a writing instruments which had shown a healthy 17 per cent growth over last year8217;s figures.

The segments that contributed significantly to the revenue were the colour and painting division and writing division at 35 per cent and 25 per cent respectively. Formulations and bulk drugs amp; fine chemicals divisions contributed 7 per cent and 5 per cent respectively. Thebulk drugs and fine chemicals division is expected to make profits from this year 98-99 onwards, Dilip Dandekar, managing director said.

Regarding joint ventures, Dandekar said the company was not too keen on anything more than a technical collaboration. To cater to the high-end professional market it had taken up distribution of Winsor amp; Newton, UK, products in India. However, demand these for these high-end products was minimal. And although Winsor open to the idea of a 50:50 joint venture, Camlin had decided not to opt for it under the present market conditions, he added.