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RAYMOND WOOLLEN-Margins Eroded

DUNLOP INDIA Facing Stiff Competition DUNLOP INDIA'S overall income has been Rs 329.75 crore against 366.27 crore in 15 months of last financial year. Gross profit is Rs 33.99 crore against Rs 25.98 crore last year, reflecting an increase in profit margins. The provision for depreciation has claimed more and there is also a tax liability of Rs 6.55 crore against nil previously, leaving a net profit of Rs 14.01 crore against Rs 13.48 crore. Net profit to capital employed has declined from 19.3 per cent to 17.5 per cent. The shareholders have been rewarded with an 8-point hike in dividend to 30.50 per cent which is covered 2.26 times by earnings.

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