GLOBAL SLUMP SEES CHEMPLAST SANMAR POST 89% DROP IN NET
Article Abstract:
Chemplast Sanmar Limited of Chennai has recorded 89 percent drop in net profit for the year ended March 31, 1998, as the company's commodity chemicals and shipping business suffered due to a worldwide slump. The PVC business of the company also experienced a downtrend due to high feed stock prices and a steep decline in returns due to the Asian economic crises. (gsh) ------------------------------------------------------------ Financial Results: Chemplast Sanmar Limited (Rs in crore) ------------------------------------------------------------ Particulars 1997-98 1996-97 ------------------------------------------------------------ Gross Sales 453.98 529.42 ------------------------------------------------------------ Gross Profit 114.15 132.80 ------------------------------------------------------------ Depreciation 44.11 34.11 ------------------------------------------------------------ Pre-Tax Profit 4.10 40.54 ------------------------------------------------------------ Net Profit 3.76 35.33 ------------------------------------------------------------ Equity share capital 35.18 35.18 ------------------------------------------------------------
Comment:
Records 89% drop in net profit for year ending 3/31/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CHEMPLAST SANMAR BOARD CLEARS MAJOR RECAST PLAN
Article Abstract:
Chemplast Sanmar Ltd of Chennai has undertaken a major restructuring programme which will help it have a sharper focus on its operations. It is to concentrate on PVC and separate the non-chloro-chemical and shipping businesses. It will transfer investment of over Rs140 crore in non-chloro-chemical related businesses, including India Cements Ltd, to its subsidiary. According to the scheme, the shipping business with 7 sailing vessels will now be vested with Sanmar Shipping Ltd, a subsidiary of Chemplast Sanmar Ltd. Also, investments of Rs140 crore in non-chloro-chemical businesses will be vested with a subsidiary company of Sanmar Shipping Ltd. The other investments, which will now be transferred to the subsidiary, include Rs9.7 crore in Sanmar Speciality Chemicals Ltd and Rs6.12 crore in Bayer Sanmar Ltd. The export activities of Chemplast Sanmar Ltd in chloro-chemical products, which were till now handled by Sanmar International, will hereafter be handled by itself. (um) (kvr)
Comment:
Chemplast Sanmar Ltd of Chennai has undertaken a major restructuring programme which will help it have a sharper focus on its operations.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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CHEMPLAST SANMAR NETS Rs8.4 CRORE
Article Abstract:
Chemplast Sanmar Ltd of Chennai made a net profit of Rs8.4 crore in the third quarter ended December 31, 1998. It earned Rs121.95 crore from net sales and freight. Its gross profit was Rs40.13 crore. Its interest was Rs17.18 crore. Its bare-boat charges were Rs2.93 crore. Its depreciation was Rs11.62 crore. (um) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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