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

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INDO RAMA SYNTHETICS-Rise in Interest Costs

EPW Research Foundation MAFATLAL INDUSTRIES, the flagship company of the Arvind Mafatlal group, saw a dismal performance in 1995-96 with net profit tumbling by 88.6 per cent over the previous year from Rs 34.2 crore to a mere Rs 3.9 crore. The company, into which Mafatlal Fine Spinning and Manufacturing Company was merged from April 1, 1993, could declare a dividend of only 15 per cent in 1995-96 compared to 35 per cent in the preceding two years. Moreover, it had to dip into its reserves in order to distribute the dividend, thus leading to an erosion in its net worth. Consequently, thecompany's book value fell from Rs 642.8 per share in 1994-95 to Rs 630.7 per share (face value Rs 100 per share).

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