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Journalism of Courage
MUMBAI, MAY 11: Soap and detergent major Nirma Ltd has registered a 16.61 per cent growth in gross sales to Rs 1,717.62 crore during the financial year ended March 31, 2000 as compared to Rs 1,472.95 crore in the previous fiscal.
The company has posted a net profit of 234.10 crore, up by 37.26 per cent from the previous year8217;s Rs 170.55 crore. This, according to a press release, translates into a fully diluted earnings per share of Rs 29.62, assuming all warrants get converted into equity.
The board of directors at its meeting recommneded final dividend of 10 per cent, having earlier declared interim dividend of 25 per cent, subject to approval by shareholders at the 20th annual general meeting.
The company, says the release, expects to further stabilise the manufacturing facilities with the commissioning of the 4.20 lakh tonnes per annum tpa Soda Ash plant in March last and n-parrafin, an input for LAB plant. Both are critical inputs for detergents in the in-house manufacture of the raw materials.
The installed capacity of its toilet soap division at Mandali in Mehsana district has been increased from 90,000 to 110,000 tpa during the outgoing year.
It has also completed the acquisition of Kisan Industries, engaged in the manufacture of detergents, single super phosphate, besides packaging, for a cash consideration of Rs 200 crore. The full effect is expected to flow in from the current financial year.
