Poor Performance

Poor Performance Hansavivek JAIFUR UDYOG's production of clinker during the year ended March 1969 was slightly lower at 7,61,882 tonnes (7.81,264 tonnes) hut that of cement was higher at 8,16,953 tonnes (8,00,103 tonnes). Despatches were up from 7,93,184 tonnes to 8,30,112 tonnes and so were sales from Rs 11.19 crores to Rs 11.66 crores. But gross profit shrank from Rs 150 crores to a mere Rs 45 lakhs. Even after taking into account tax credit certificates, income tax refund and write-backs amounting to more than Rs 29 lakhs (Rs 16,000). net surplus was only Rs 10 lakhs (Rs 39 lakhs), while the 10 per cent equity distribution and the usual dividend on preference shares will together require more than Rs 32 lakhs. This poor outcome is attributed to increase in costs, reduction of Rs 3 per tonive in the cement retention price and "unprecedented" rains which "submerged a large portion of plant" for a number of days entailing "heavy expenditure" on repair and rehabilitation. To meet the "flood adversities" a loan of Rs 25 lakhs was received from the Rajasthan Government in the form of 5