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

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FORBES GOKAK-Modernisatior Programme

EPW Research Foundation ITC, the largest cigarette manufacturer in the country, enjoys a market share in volume of 60 per cent. The company has five businesses, viz, tobacco and cigarettes, oilseeds, and edible oils, hotels, paper and packaging and international trading. The company has registered a PAT of Rs 206.32 crorefor 1993-94 which is 32 percent higher than in the previous year. Net sales went up by 25 per cent and operating profit by 19 per cent. But for an increase in taxation by 35 percent, depreciation by 22 per cent and a fall in other income by 5 per cent, margins would have been even higher. Exports were up by 41 per cent, while foreign exchange earnings rose by 69 per cent. Short-term loans were down by 4 per cent while bank borrowings increased by 6 per cent for the year. The dividend declared at 85 per cent is 20per cent higher than that for the previous year. Earning per share rose from Rs 9 in 1993-94. Return on investment increased

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