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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (4330)	5/23/1999 10:43:00 PM
From: Mohan Marette	Read Replies (1) of 12475

Himatsingka Seide to issue 1:1 bonus himatsingka.com Our Bangalore Bureau (Economic Times economictimes.com 23 May THE board of directors of \|Himatsingka Seide Ltd\| (HSL), which met here today, has recommended a 1:1 bonus issue. The company's scrip has been on the upward spiral for some time now in anticipation of a bonus issue. It rose from Rs 172 on March 22, 1999, to Rs 262.40 on May 21, 1999, on the Bombay Stock Exchange. The board has recommended a dividend payment of 80 per cent, including the interim dividend of 30 per cent. Himatsingka has reported a net profit of Rs 28.95 crore for the year ending March 31, 1999, against Rs 24.63 crore in 1997-98, showing an increase of 17.54 per cent. Net sales grew by 42.55 per cent to Rs 84.80 crore from Rs 59.49 crore in the previous year. On an equity capital of Rs 9.55 crore, the earnings per share (EPS) for 1998-99 has risen to Rs 30.31 from Rs 25.79 in the previous year. The equity capital which stood at Rs 9.55 crore In 1998-99 will double after the 1:1 bonus issue. Reserves and surplus for 1998-99 were Rs 131.60 crore leading to a book value per share of Rs 147.80. The other figures for FY99 (FY98) are as follows: other income of Rs 2.17 crore (3.63 crore); total expenditure of Rs 45.86 crore (Rs 31.76 crore); interest of Rs 3.52 crore (Rs 1.54 crore); depreciation of Rs 8.63 crore (Rs 4.77 crore); provision for tax of Rs 0.01 crore ( Rs 0.42 crore). HSL expects to become Y2K compliant by September 1999.

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