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

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Tax-Paver, at Last

Tax-Paver, at Last Hansavivek HINDUSTAN ALUMINIUM experienced notable contraction of margins during 1972, despite slightly higher production and sales. With the company attracting tax liability for the first time, profit at the net level was sharply down, but dividend was maintained at 12.5 per cent "to keep up the morale of the investment market". Profitability was impaired on account of increases in costs of raw materials and power. The company has approached government for re vision of selling prices and asserts that without immediate revision "the industry cannot survive". The case regarding the threat of the UPSEB to cut power supply to the company's plant was decided by the Allahabad High Court in favour of the company. Cases relating to additional power supply in case of emergency shutdown of any of the units at Renusagar and also that of the one paisa duty on self-generated power 'are pending before the Court.

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