Ranbaxy Net Up 14 Per Cent
The board of directors of Ranbaxy Laboratories has declared a final dividend of 57.5 per cent which, together with an interim dividend of 22.5 per cent, brings up the total dividend to 80 per cent for the financial year ended March 31, 1997.
The city-based company, which held its board of directors meet yesterday to approve the audited accounts for 1996-97, has recommended a total dividend payout of Rs 36.79 crore based on a 22.4 per cent increase in its total sales which stood at Rs 1066.1 crore last year against Rs 871.3 crore in 1995-96. Export sales rose by 28.3 per cent from Rs 406.8 crore to Rs 522 crore to account for 49 per cent of total sales which stood at 47 per cent the previous year.
The profit before interest and depreciation at Rs 196.6 crore, registered a 26.4 per cent jump over the previous year's figure of Rs 155.6 crore. The net profit rose by 14.2 per cent, from Rs 135 crore in 1995-96 to Rs 154.2 crore last year.
The net interest income was at Rs 8.8 crore in 1996-97 against Rs 27.3 crore the previous year. The tax provision has fallen marginally during the period from Rs 23.5 crore to Rs 22 crore, while the depreciation charge rose from Rs 24.4 crore to Rs 29.2 crore.
The net worth of Ranbaxy, at the end of the last financial year as on March 31, 1997, stood at Rs 1098.2 crore which rose from Rs 815.6 crore as on March 31, 1996, a rise of 35 per cent.
The earnings per share of the company for a par value of Rs 10 stood at Rs 31.20 by the end of last year, up from Rs 30.43 crore in 1995-96.
This was on an equity base of about Rs 49.5 crore.
However, the equity base of the company is expected to touch nearly Rs 56 crore after the Croslands merger and other conversions are through. Ranbaxy has already received the Chandigarh High Court nod to the merger while the Bombay High Court's approval is awaited before it can take effect.
Rs crore
1995-96 1996-97
Sales 871.3 1066.1
Net int income 27.3 8.8
Depreciation 24.4 29.2
Net profit 135 154.2
EPS (Rs) 30.43 31.2