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Jindal's fantastic turnaround.

Apr 29, 2000

Jindal Drilling and Industries Ltd. is engaged in the business of seamless casting pipes with particular regard to threading and end finishing. It has a capacity of 25,000 tonnes per annum of seamless casting pipes. In 1989 the company diversified into the field of oil well drilling by acquiring jackup drilling rigs on lease . The company has also engaged in mud logging operations for ONGC in Southern India. It belongs to the Jindal group. The turnaround is on account of increased off take for the company's products, more of revenue through drilling operations and tighter control over expenditure.In view of the excellent performance the company has declared a dividend of 25%.

(Rs m) FY1999 FY2000 Change
Sales 1,561 1,888 20.9%
Other Income 21 15 -28.6%
Expenditure 1,541 1,651 7.1%
Operating Profit (EBDIT) 20 237 1085.0%
Operating Profit Margin (%) 1.3% 12.6%  
Interest 41 34 -17.1%
Depreciation 22 22 0.0%
Profit before Tax (22) 196 -990.9%
Other Adjustments -    
Tax - 58 0.0%
Profit after Tax/(Loss) (22) 138 -727.3%
Net profit margin (%) -1.4% 7.3%  
Earnings per share* 0.00 31.00  
(annualised)      

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