HIKE IN IMPORT LEVY TO HIT PHARMA Cos

Article Abstract:

The Indian pharmaceuticals industry is Rs12,000 crore worth. Pharma companies are likely to be affected by the 1998-99 budget. The Budget has recommended eight percent increase in import duty on bulk drugs from 35 percent. Companies that are affected by the hike in import duty are Ranbaxy Laboratories which imports about 70 percent of raw materials in value terms, Dr Reddy's Laboratories (51 percent), Hoechst Marion Roussel (41 percent), Cipla (30 percent), Wockhardt (27 percent), Glaxo (26 percent). (rk)

Comment:

India: Country's 1998-99 budget recommends 8% increase in import duty on bulk drugs from 35%

Taxes

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CAMLIN SEES HEALTH IN PHARMA BUSINESS

Article Abstract:

Camlin Ltd (Camlin) is to invest Rs25 crore in the next 5 years. It proposes to concentrate on its pharmaceuticals business. Pharmaceuticals contributed Rs11 crore (8 percent) to the total sales in 1997-98. Its sales were Rs136.10 crore (Rs116.13 crore in 1996-97). Its gross profit was Rs6 crore (Rs4.28 crore). Its net profit was Rs2.33 crore (Rs1.04 crore). Its earning per share was Rs9.74 (Rs4.16). Its exports earnings were Rs6.07 crore (Rs4.28 crore). (rk)

Comment:

Will invest Rs25 crore in the next 5 years & proposes to concentrate on its pharmaceuticals business

Capital expenditures, Camlin Ltd.

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CAMLIN HOPING FOR BETTER TIMES

Article Abstract:

Camlin, a stationary and writing instrument manufacturing company, has recorded a loss of Rs40 lakh during the fourth quarter of 1998-99. The company, however, has recorded profits during the other three quarters. September-December is usually a lean season for stationary companies. With admissions to schools and colleges beginning in the second quarter of the calendar year, Calming hopes to make highest sales and profits during March-June. (um)(psr)

Sales, profits & dividends, Stationery, Stationery, Tablet, and Related Product Manufacturing, Pen and Mechanical Pencil Manufacturing, Pens & Mechanical Pencils, Camlin

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