Fulford (India) has earned a net profit of Rs 21.81 crore during the year ended December 2007 as against Rs 12.75 crore in the previous year, a strong growth of 71.1 per cent. Its net sales increased by 12 per cent to Rs 168.45 crore from Rs 150.39 crore. The company declared higher equity dividend of 40 per cent as against 30 per cent in the previous year. Its earning per share worked out to Rs 55.94 for the year ended December 2007.

The company's other income went up by 185 per cent to Rs 7.27 crore mainly due to additional interest earned on proceeds of Rs 40.25 crore received on preferential allotment made to the promoter, Dashtag, UK, in the previous year. Dashtag, UK has made an open offer to acquire 7.80 lakh equity shares (representing 20 per cent of the post-preferential issue capital) from the existing shareholders of the company. Pursuant to this open offer, Dashtag, acquired 1,23,087 shares constituting 3.16 per cent of the post-preferential capital of the company and the present holding of Dashtag is 53.93 per cent.

The company has raised Rs 40.25 crore by issuing 7 lakh shares of Rs 10 each at a premium of Rs 565 per share to its promoters, Dashtag. This amount is presently invested in fixed deposits with banks, pending utilisation of the same. Schering Plough (India) Pvt Ltd is a wholly owned subsidiary of Fulford (India).