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

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E Merck (India), Glaxo India, Philips India

E MERCK (INDIA) Healthy Trends E MERCK (India), a 51 per cent subsidiary of German pharmaceutical major KGaA, is one of the largest players in the vitamins market. It draws more than 50 per cent of its turnover from the sale of vitamins and its leading brands in the segment include Evion, Polybion and Neurobion. The company has performed well during the year ended December 31, 1998. While net sales increased by 17.6 per cent over the previous year, 1997, operating profit improved by 13.9 per cent. Despite a sharp increase in depreciation (up 44.3 per cent), the company managed to post a 38.6 per cent higher net profit. The company attributes its encouraging performance to its improved operating efficiency, a lower interest burden (down 9.2 per cent). Tax provision did not increase as the company received some tax concessions following the commissioning of its soft gelatin capsules plant during February 1998. With earnings per share increasing from Rs 11.6 to Rs 16, the company decided to raise the dividend rate from 32 per cent last year to 37 per cent. Book value too moved up from Rs 44.4 per share to Rs 56.3 per share.

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