MARICO INDUSTRIES - WORTH WATCHING
Article Abstract:
Marico Industries (MIL), the fast moving consumer goods manufacturer, recorded 8.5 percent growth in sales and 18.50 percent rise in net profit in the first quarter of 1998-99. Its scrip is presently trading at Rs272 on the bourses. MIL recently reduced the price of its flagship brand Parachute coconut oil due to fall in copra prices. The other brands, Sweekar, Hair & Care and Sil recorded good growth during the quarter, but Saffola's volumes dipped due to shortage in safflower supplies. MIL launched a new product called Revive ColourFix during the same period, which helps to fix colours on cotton fabrics. It also entered into a marketing and distribution alliance with Indo Nissin Foods Ltd to market the latter's products. MIL got the approval of the Foreign Invest and Promotion Board (FIPB) for the investment of up to 9.99 percent its equity by E M Warburg Pincus, the leading international strategic investment firm. (gsh) --------------------------------------------------------- Financial Results: Marico Industries (Rs in crore) --------------------------------------------------------- Particulars 1Q ended 1Q ended June,1998 June,1997 --------------------------------------------------------- Net Sales 109.33 100.75 --------------------------------------------------------- Other Income 0.39 0.25 --------------------------------------------------------- Total Income 109.72 101.00 --------------------------------------------------------- Total Expenditure 98.17 90.73 --------------------------------------------------------- Gross Profit 11.55 10.27 --------------------------------------------------------- Depreciation 1.38 0.82 --------------------------------------------------------- Interest 0.75 0.89 --------------------------------------------------------- Taxation 1.41 1.79 --------------------------------------------------------- Net Profit 8.01 6.79 --------------------------------------------------------- Equity 14.50 14.50 --------------------------------------------------------- >EN
Comment:
Reduces price of flagship brand Parachute coconut oil due to fall in copra prices
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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TTK PRESTIGE: LOSING PRESTIGE
Article Abstract:
TTK Prestige of Bangalore sells 2 million pressure cookers in a month. Cookers account for 70 percent of its sales. It sells barbecues, sterilisers, kitchen knives and markets personal care products of Braun of Germany. It has earmarked Rs10 crore for modernisation, expansion and production of new products. Its exports formed 10 percent of its turnover at Rs9.22 crore in 1996-97. It has set up a subsidiary in USA, called TTK Manttra, to sell cookers under the brand name, Manttra. It has signed a memorandum of understanding with Thermos of USA to produce flasks in India. It has projected a export revenue of Rs3 crore from USA alone by the year 2000-2001. It plans to introduce toasters, kettles and irons in the Manttra range in India. The company faces problems of low demand, rising wages and increasing cost of imported raw material. Its net profit for 1998-99 is expected to be Rs5 crore. (rk) ------------------------------------------------------------ Financial results of TTK Prestige ------------------------------------------------------------ Particulars March 1998 March 1997 (Rs in crore) ------------------------------------------------------------ Sales 111.43 114.86 ------------------------------------------------------------ Gross profit 11.04 17.99 ------------------------------------------------------------ Depreciation 1.65 1.32 ------------------------------------------------------------ Interest 3.46 4.28 ------------------------------------------------------------ Tax 0.85 4.00 ------------------------------------------------------------ Net profit 5.08 8.39 ------------------------------------------------------------ Equity 11.33 11.33 ------------------------------------------------------------ EPS (Rs) 4.48 7.42 ------------------------------------------------------------ Dividend (%) NA 25.00 ------------------------------------------------------------ Book value (Rs) 59.20 65.12 ------------------------------------------------------------
Comment:
Sells 2 mil pressure cookers in a month; cookers account for 70% of its sales
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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COMPETITIVE DYNAMICS
Article Abstract:
In the urban tooth-paste market, in recent years Colgate steadily lost its market share, with Hindustan Lever Ltd (HLL) posing a tough competition with its Close-up brand in the gel segment. In the standard white tooth-paste segment also, HLL threatened Colgate's monopoly by launching its Pepsodent brand. But Colgate recently launched many new products in the gel segment to regain its market share. Now, Colgate Gel accounts for 25 percent of the gel segment. It has considerably improved the net profit of Colgate. (gsh)
Comment:
Steadily loses market share in the urban toothpaste market
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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