Nicholas Piramal India, The Ahmedabad Electricity Company, Finolex Industries

NICHOLAS PIRAMAL INDIA Building on Research Nicholas Piramal India with its strong emphasis on the domestic pharmaceutical market, achieved sales growth of 20 per cent in 2002-03, against a domestic industry growth rate of 8-9 per cent. With total sales of Rs 1,136 crore, net profit was more than doubled to Rs 118 crore. With 21 new products being launched during the year, the number of new products over the last two years rises to 35. The company has also reduced its interest costs by repaying a portion of its debt and substituting the rest with low cost debt. Net interest outgo came down by 34 per cent to Rs 20.58 crore.