Sales and related income at Rs 524.98 crore registered an increase of 8.61 per cent over the previous year, while profit before tax at Rs 16.15 crore represents an improvement of 5.97 per cent over the previous year. These figures, a company release said, reflect the impact of measures taken at the end of the last quarter, on account of restructuring.

Interest and depreciation stood at Rs 27.61 crore and Rs 10.98 crore respectively. Provision for taxation was Rs 6.12 crore.

Major contribution to the turnover came from agrochemicals which registered growth despite adverse agrochemical conditions. During the year, Bayer introduced Confidor 200 SL (which belongs to the chloronicotinyle group), one of the best-selling insecticides inthe world. "The continued good performance in this business was due to consolidation of products, introduction of new products, restructuring and aggressive field promotion activities," the release added.

Sales of rubber chemicals, in terms of volume, grew marginally with export volumes also increasing. Sales in terms of value, however, were lower and were impacted by a reduction in import tariffs and a downward trend in international prices which was further compounded by a slump in the local user industry.

In the consumer care segment, the implementation of best industry practices in distribution led to a reduction in primary sales and profitability in 1998 as compared with 1997. During the year, Bayer launched Baygon Genius, a liquid vaporiser while Baygon Stop, an insecticide chalk, was test marketed. In the aerosol market, the company's Power and Knock-Out performed very well, facilitating a consolidation of the company's position in the area.

The year also saw tha launch of Glucobay, ananti-diabetic drug approved for use in both non-insulin dependent and insulin dependent diabetes mellitus. Major brands such as Baycip, Incid-L, Adalat and Resochin improved upon their performance during the year.

In the public health segment, Bayer's Salfac, a residual spray for control of vector mosquitoes, continues to be a major contributor, while Racumin, a rodenticide was also test-marketed during the year.