The company, erstwhile Indian Shaving Products Ltd (ISPL), also recommended a dividend of 15 per cent on the enhanced share capital of Rs 32.59 crore.The company closed its first year - post amalgamation - with consolidated sales turnover of Rs 516.8 crore as against Rs 250 crore of the erstwhile ISPL in the same period. Gross profit for the year was up by 39 per cent at Rs 67.16 crore as against Rs 48.35 crore last year.

Total income for the year ended December 2000 stood at Rs 536.54 crore, up from Rs 253.74 crore in the corresponding period last year, a company statement said here.

The combined entity registered a substantial increase in advertising and promotion of the merged companies with spends going up from 8.5 per cent to 10.1 per cent of net sales in a conscious strategy to build brands, the statement said.