SANGAMESHWAR COFFEE ESTATES AND INDUSTRIES LIMITED
Article Abstract:
Sangameshwar Coffee Estates and Industries Limited, Sangameshwarpet, has declared a final dividend of 30 percent. It has already paid out an interim dividend of 30 percent. (rk) --------------------------------------------------------- Audited financial results of Sangameshwar Coffee Estates and Industries Limited (Rs in lakh) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Sales (income from crops) 634.05 529.82 --------------------------------------------------------- Other income 16.45 30.66 --------------------------------------------------------- Total expenditure 393.15 328.60 --------------------------------------------------------- Interest 16.34 20.38 --------------------------------------------------------- Profit before depreciation and tax 241.01 211.50 --------------------------------------------------------- Depreciation 9.55 7.95 --------------------------------------------------------- Provision for tax 139.16 88.20 --------------------------------------------------------- Net profit 92.30 115.35 --------------------------------------------------------- Equity 126.22 126.22 ---------------------------------------------------------
Comment:
Reports decrease in net profit to Rs92.30 lakh in 1997-98 from Rs115.35 lakh in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ROSSELL OVERCOMES UTI BLOCK, TO SELL TEA ESTATES
Article Abstract:
The extraordinary general meeting of Rossell Industries held in Calcutta on February 10, 1999, passed the resolution to sell a few tea estates. The Unit Trust of India (UTI) had demanded a vote on the proposal to sell some tea estates by Rossell Industries. About 89.5 percent of the votes favoured the resolution of sale of tea estates. The Unit Trust of India holds 7 percent equity in Rossell Industries. Rossell Industries has not availed any loans from the Unit Trust of India and Unit Trust of India is only a shareholder. Rossell Industries has debts of Rs22 crore and pays an annual interest of Rs7.5 crore. It plans to clear its debts with the proceeds of the sale of tea estates. (rk) (kvr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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MAC AGRO MAY SELL HUGE CHUNK OF COFFEE ESTATES
Article Abstract:
MAC Agro Industries Corporation Ltd, a part of the Rs3,500 crore MA Chidambaram group, plans to divest a part of its coffee estates in Karnataka to decrease its debt burden due to losses in aquaculture and coffee trading. The company owns more than 3,000 acres of coffee plantations worth over Rs90 crore in Karnataka. It grows the robusta variety on 1,200 acres in Hassan district and the arabica variety on 1,800 acres in the Chikamagalur district. (khr)
Comment:
Plans to divest part of its coffee estates in Karnataka to cut its debt burden due to losses in aquaculture & coffee trading
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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