Hurt by Recession

Hurt by Recession Hansavivek SHREE RAM MILLS has turned out disappointing results for 1974, with a loss of Rs 11 lakhs, as against a net profit of Rs 66 lakhs in the year before. The results would have been still worse if the materials in process as at the end of the year bad been valued at the market prices. As before, the company has valued these materials at cost, which at the year-end was higher than the market value on account of slump in textile prices. According to the director'' estimate, the realisable value of these Stocks would be lower by about Rs 40 lakhs than the cost This outcome is ascribed to the combined effect of a number of adverse factors