Corporate Briefs 25-05-2005

Asahi declares 1:1 bonus

Asahi India Glass has recommended a 1:1 bonus for its shareholders. On the back of a 9 per cent growth in net profit to Rs 78.20 crore in 2004-05 from Rs 71.75 crore in the previous fiscal, the board of the company has also recommended a final dividend of Rs 1.5 per share for the last fiscal in addition to an interim dividend of Rs 1 per share paid earlier. This takes the total dividend payout to 25 per cent for the year ended March 31. The company?s sales during the reporting fiscal grew 17.5 per cent to Rs 691.53 crore from Rs 588.42 crore in 2003-04.

SRF payout

SRF board has recommended a 25 per cent dividend to its shareholders for 2004-05. The company has reported a 44 per cent increase in net profit at Rs 60.1 crore in the last financial year compared with the previous fiscal. SRF?s revenue grew 29 per cent to Rs 1,077 crore during the period under review. In the fourth quarter alone, the company?s revenues increased by 45 per cent to Rs 303.9 crore. A meeting of the board also co-opted Ashish Bharat Ram as an additional director and designated as president and executive director.

GM move

General Motors India (GMI) has launched a cluster of customer service programmes called GM Service Plus, including 24-hour workshops and Free After 3, wherein the company would reimburse customers if the service takes more than three hours. The company is also ramping up its production capacity and planning to roll out a small car.

Gail pact

Gail (India) and the Bureau of Indian Standards have formed an executive cell to develop safety and operational standards in oil and gas infrastructure in the country. The executive cell will formulate standards for high-pressure oil and gas transmission pipeline network.

AMD centre

AMD India, a microchip manufacturer, is planning to set up a design centre in Bangalore at a cost of $5 million. The investment will be made over a span of three years. The proposed centre will focus on designing high-end microprocessors for the infotech industry.