ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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FROM THE CHAIR-The South Madras Electric Supply Corporation Limited

lakhs and gross profit was up from Rs 4 lakhs to Rs' 7 lakhs. Net profit was Rs 82,392 (Rs 67,763) while dividend stepped up 3 points to 8 per cent will require Rs 1,60,000. Return on total funds employed worked out at a bare 1.4 per cent. The distillery produced 16.37 lakh bulk gallons of rectified and other spirits against 8.30 lakh bulk gallons in the previous year, although the plant had to be kept closed for over 2 months due to labour strike in the factory of Synthetics and Chemicals, main buyer of industrial alcohol. Owing to "severe" competition in sales of rum to defence services, supplies made against tenders resulted in a "substantial" loss. It is proposed to produce malt whisky. This new product is expected to be marketed after two years. The company has received 'letters of intent' from the Governments of Madhya Pradesh and Andhra for setting up brewery plants in their States.

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