Gtc Industries

Last week's close: Rs 15.50

Previous week's close: Rs 20.45

GTC Industries lost around 24 per cent in last week as the company was referred to BIFR as its networth of Rs.54.92 crore has been fully eroded. Till September 30, 1996, accumulated losses stood at Rs.67.73 crore. GTC had been performing well till the year ended March 1995. It registered a turnoover of Rs.400.11 crore and a net profit of Rs.16.02 crore.

However , it suffered a major setback in 1996 and it extended its results till September 1996. For a 18 month period, the company has registered a net loss of Rs.114.08 crore on a sales turnover of Rs.638.83 crore .

 

GTC, flagship of the Dalmia group, is one of the major player in the cigarette industry. Panama, Flair, Chancellor, Esquire, Lengend are some of the major brands owned by the company. Apart from cigrattes, the company also manufactures processed tobacco paper boards, writing paper and diesel additives at its units at Guntur in Andhra Pradesh and Raigad in Maharashtra.