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

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Progressively Out of the Woods

Progressively Out of the Woods Hansavivek 245,000 tonnes of the product was sold, showing an increase of about 5 per cent in total tonnage sold over 1970. A sizeable quantity had to be moved by road or rail-cum-road owing to transport difficulties. This led to increase of about Rs 38 lakhs in transport and handling costs. Despite "steep' increases in cost of raw materials and higher Central levies, Coromandel made higher net profit of Rs 168 lakhs (Rs 55 lakhs) which reduced the accumulated deficit to Rs 2.37 crores. The aggregate estimated development rebate to be set aside out of future profits works out at Rs 10,4 crores. The directors say that they have been advised that with the approval of financial institutions, they could consider recommendation of a dividend much earlier than the year in which development rebate reserve would have to be created, if adequate surplus was generated after the book loss is wiped out Meanwhile, technical studies on the proposed expansion are in progress, NATIONAL ORGANIC CHEMICAL INDUSTRIES LTD has secured an import licence for an additional naphtha cracking furnace of high ethylene yield to meet the anticipated additional market demand, mainly in terms of the ethylene glycol requirements of several new polyester plants due to commence operations shortly. A foreign exchange loan of over Rs one crore has been sanctioned by ICICI for the new furnace and other equipment. This unit is expected to be commissioned by early 1973. Last year, the company's production was affected to some extent In the first half owing to some technical problems, but these were overcome. With increased market demand for the full range of its products, NOCIL has produced good results. Substantial increase in sales of PVC resins resulted in the licensed capacity of 20,000 ton-

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