Dabur India and its subsidiaries have posted a 37 per cent jump in net profit at Rs 91 crore on a turnover of Rs 1,371 crore, up by 7 per cent, during the FY ended March 31, 2003.

The Board, which met on Friday, decided to pay 90 per cent final dividend to its shareholders taking the total dividend for the year to 140 per cent, its highest payout till date. The company had announced a 50 per cent dividend in November 2002. The final dividend would be subject to the approval of the shareholders.

“The year 2002-03 was good for Dabur, despite poor monsoons and tough market conditions. The board is happy to announce its highest ever dividend so far,” said VC Burman, chairman, Dabur India.

The Board also recommended to offer one equity share of Re 1 each in Dabur Pharma Ltd for every two shares held in Dabur India Ltd. The parent company, Dabur India, which consisted of two businesses—FMCG and pharma—recorded 6 per cent growth in sales turnover, from Rs 1,163 crore to Rs 1,232 crore during the reporting period.

The company said that the issued share capital, post demerger of Dabur India, would remain at Rs 28.58 crore while that of Dabur Pharma, the proposed new name for the pharma business, would be Rs 14.29 crore.

“It is proposed to list the demerged pharmaceutical company. Issue of additional shares would provide enough liquidity to shareholders who have interest in Dabur's pharma business,” a senior Dabur representative said.

Net profit increased 32 per cent from Rs 64 crore to Rs 85 crore during the period under review. The fast moving consumer goods business contributed 85per cent or Rs 1048.5 crore to Dabur's sales and net profit of Rs 72 crore.

The pharma division which contributed 15 per cent to total sales, posted sales of Rs 184 crore and net profit of Rs 13 crore. The company launched three new oncology products—Thalix, Oxitan and Trozet—in 2002-03 and expanded its overseas presence by making a foray into the generic markets of Mexico and Vietnam, the company said. The sales turnover of Dabur Foods grew 30 per cent to Rs 69 crore in 2002-03.

During the year, two new products were introduced in the Hommade range — tomato puree and coconut milk. Real juices were extended to Litchi and Guava were launched, taking the total variants to eight.