Ibp Bid To Step Up Export Of Explosives

R S Guha, executive director of IBP, said the company is now setting eyes on Ethiopia, Tanzania, Syria and Myanmar.

IBP has emerged as the largest supplier of industrial explosives in the country by notching up a market share of 23.5 per cent. Its export of industrial explosives during 1995-96 came to Rs 5 crore which is expected to go up to Rs 8 crore during the current financial year.

Addressing a press conference here yesterday, chairman of the IBP-Balmer Lawrie group S N Mathur clarified that there was no proposal to bring down the government holding from 59.59%.

He said the company was putting in Rs 10-crore equity in IBP-Caltex (ICL) to bail out the company which has already incurred Rs 17 crore losses before even starting operations.

 

IBP has declared a dividend of 35 per cent for 1995-96 against 32 per cent last year. The company has also announced issue of bonus share in the ratio of 1:2.

The turnover during 1995-96 came to Rs 3259.77 crore, registering a growth of 10.62 per cent over the previous year. The profit before tax increased to Rs 31.71 crore, an improvement of 25.33 per cent over 1994-95. The net profit also went up to Rs 24.42 crore, an increase of 3.82 per cent.