ATUL PRODUCTS-Rise in Profit

EPW Research Foundation ASIAN PAINTS Spurred by Excise Cut ASIAN PAINTS, the market leader in the decorative paints segment, has done well in 1993-94 after a lean performance in the previous year. The company controls about 40 per cent of the decorative paints market and about 14 per cent of the industrial paints market. Net sales were up by 10 per cent (Rs 36.19 crore), operating profit by 11 per cent (Rs 6.16 crore) and net profit by 31 per cent (Rs 6.15 crore). Reduction in excise duty by 10 per cent in the last two years helped the company to pass on the benefit to its customers in the form of reduced price. Increase in taxation by 32 percent was offset by decrease in depreciation and interest charges by 10 per cent and 23 per cent, respectively. Non-operating profit increased by 33 per cent while income increased by 108 per cent. A dividend of 50 per cent was declared for the year against 33 per cent in the previous year. Imports and exports increased by 39 per cent and 25 per cent, respectively.