The company has changed its financial year to January 1 to December. The audited financial results for the accounting year ended December 31, 1999 are, therefore, for a nine-month period and hence not strictly comparable.

A press release said that despite a bad agricultural season for the industry, AgrEvo India could achieve a PBT of Rs 29.3 crore (a growth of 30 per cent) due to proactive cost cutting measures and improved production efficiencies.

At the board meeting, the directors recommended a final dividend of 35 per cent. Further, a ``one-time special millennium dividend'' of 15 per cent was also announced. In December, the companypaid an interim dividend of 35 per cent.