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

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Biscuits Mean Business

Biscuits Mean Business Kumaran Pola BRITANNIA INDUSTRIES' net sales on an annualised basis increased by 18 per cent to Rs 296.80 crore during the year ended March 31, 1990 from Rs 335.59 crore during the 16-month period ended March 31, 1989. With the diversification into soya bean crop reaching a new high at 1.8 million tonnes in 1989, Britannia has emerged the largest exporter of soya meal from India by exporting over 1,00,000 tonnes during the year. The bakery division which continued to be the core of the company's business accounted for a sales of 68 per cent of the company's total sales and the export division an all time high of Rs 75 crore during 1989-90, Due to the pressure of costs which was however kept under control as shown by the expenses to sales ratio of 0.96:1 during 1988-89 as also during 1989-90, the operating profits of the company increased at a lower rate of 6 per cent on an annualised basis to Rs 17.49 crore from Rs 22.04 crore during the preceding year. Raw material cost showed an increase of 15 per cent, employees' cost 7 per cent, depreciation 68 per cent and other expenses 28 per cent (all annualised) during the year 1989-90. However, due to contractions in interest expenses by 2 per cent (annualised) and in tax provision by 9 per cent (annualised), the company achieved a higher growth rate of 18 per cent in net profit on an annualised basis from Rs 10.99 Britannia Industries recorded an improvement

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