Compared to its 83 per cent growth in total income to Rs 42.4 crore, total expenditure during the year also went up proportionately by 82 per cent. This, along with a 184 per cent rise in interest expenditure to Rs 3.27 crore, limited the net profit growth to 63 per cent only. On an enhanced equity of Rs 5.19 crore, SSIL's earnings per share is Rs 21.16, up from the previous year's Rs 13.05.

SSIL scrip on the Bombay Stock Exchange, however, has lost around Rs 26 to Rs 376 since August 10. The scrip had witnessed a phenomenal rise on the bourse going up from its end-June level of Rs 192 to its August 10 high of Rs 402. The daily average trading on the SSIL counter has not changed much and is in the range of 30,000 to 50,000 shares.

During the fiscal year ended June 1998, SSIL's total income grew by a whopping 83 per cent to Rs 42.4 crore from Rs 23.14 crore earlier. Total expenditure also went up proportionately by 82 per cent to Rs 22.96 crore from Rs 12.60 crore. The company's interest outgo also more than doubled to Rs 3.27 crore from Rs 1.15 crore earlier.

During the period under review, depreciation charges were up from Rs 1.38 crore to Rs 2.37 crore. Tax outgo, on the other hand, was at Rs 3.98 crore, up from Rs 2.01 crore paid earlier.

During the year to June 1998, the company had made a preferential allotment of equity shares worth Rs 45 lakh to FIIs, NRIs and OCBs. As a result, the paid-up equity capital bloated from Rs 4.74 crore to Rs 5.19 crore and the promoters' stake declined to 36.5 per cent from 40 per cent a year earlier. With a Rs 31.30 crore reserves, the company's book value rose sharply from Rs 29.24 a year earlier to Rs 70.31.