ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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GARDEN SILK MILLS-Rise in Costs

EPW Research Foundation SMITHKLINE BEECHAM Expanding Products Range FORMERLY known as Eskayef, Smithkline Beecham (SB) Pharmaceuticals, with a 40per cent equity stake of Smithkline Beecham, closed the financial year ended December 1995 with net sales of Rs 310 crore, up by 28 percent from Rs 242 crore in the previous year. Other income moved up by 21 percent. Total income showed a rise of 28 per cent compared to the previous year. Interest costs moved up by 57 per cent. Provision for depreciation and tax moved up by 57 percent and 21 percent, respectively. Net profit stood at Rs 36 crore, up by 33 per cent from Rs 27 crore in the previous year. The company incurred an expenditure of Rs 7 crore in 1995 on account of a voluntary retirement scheme which was availed of by 208 employees. The directors have recommended two interinm dividends aggregating 57.50 per cent and hence no final dividend has been recommended. The improved performance has been attributed to better price realisations and stringent expenditure management. The company's manufacturing facility at Mysore has recieved the ISO 9002 certification for manufacture of bulk chemicals and conventional oral release formulations.

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