GLINDIA-Growth in Food Products

GLINDIA Growth in Food Products GLINDIA has performed well during 1987-88 with higher sales at enhanced profit margins. While turnover has risen from previous year's Rs 178 crore to Rs 211 crore, gross profit has expanded from Rs 16.74 crore to Rs 22.95 crore. Despite higher necessary provisions, net profit has advanced from Rs 7.39 crore to Rs 9,97 crore. The directors have recommended a final dividend of 11 per cent making a total of 20 per cent as against 18 per cent paid for the previous year. The enhanced distribution is covered 2.49 times as against 2,05 times previously. Capital expenditure during the year amounted to Rs 11.15 crore and was largely incurred on the creation of facilities for the manufacture of Ranitidine at Ankleshwar and on the continuing modernisation and rationalisation of manufacturing operations at the other factories. The company introduced several new products during the year