The reason for the sharp burst has been a 53 per cent jump in the bottomline from Rs 22.22 crore to Rs 33.91 crore, while turnover increased by only 12 per cent from Rs 474.12 crore to Rs 529.27 crore. The sharp jump was due to a better Q-4 performance. Though the company's bottomline in the fourth quarter stood at Rs 5.78 crore, marginally higher than the third quarter figure of Rs 5.21 crore, it has provided its entire tax liability of Rs 4 crore in the final quarter.

In 1998-99, agrochemical division has been the growth driver, which increased from Rs 215.98 crore to Rs 258.38 crore, a jump of 19.63 per cent. Within the agrochemicals division (80 per cent of which constitutes insecticides) formulations accounted for nearly Rs 195 crore.

Industrialchemicals division stagnated with 1998-99 turnover at Rs 77.85 crore against the previous year's turnover of Rs 77.62 crore. Exports recorded a marginal growth of 7 per cent, from Rs 180.52 crore to Rs 193.04 crore. Contribution of export to sales has reduced marginally from 38 per cent to 36 per cent.

Importantly, during the year, contribution of other income to PBT has reduced from 84.06 per cent to 60.74 per cent. Other income during the period of comparison has increased from Rs 20.78 crore to Rs 23.03 crore.

However, other income for the company is mainly recurring in nature. A major chunk of the other income component has come from dividend from subsidiaries to the tune of Rs 10.89 crore, interest of Rs 3.69 crore and management charges of Rs 4.22 crore. Subsidiaries of the company which are mainly involved in the international market have played a major part in increasing the company's other income.

The subsidiaries have recorded a higher growth rate in the bottomline, which is likely tocontinue in the future. During the year, the company