Ivan the Not-So-Terrible

October 25, 1975 LAMPS CAPS AND FILAMENTS, which commenced commercial production in June 1973, has shown more disappointing results for the year ended March 1975, the full year of production, than last yean Production was only 17.11 million metres of tungsten wire, as against 25.52 million metres in the preceding period; sales were 7.81 million metres against 2.06 million metres. The installed capacity in 150 million metres. Value of sales was Rs 6 lakhs, against less than a lakh last year; the outcome was a net deficit of Rs 18 lakhs, against Rs 11 lakhs previously. Accumulated deficit has increased to Rs 29 lakhs. The company could not make payment of interest and instalments due to SICOM and ICICI aggregating Rs 11 lakhs. In response to the notices received from these institutions, it has made suitable representations. The directors say that, with reduction of floating stocks of imported wires in the hands of lamp manufacturers, the company ban look forward to a substantial increase in the turnover during the current year. The company's representation regarding the re-classification of the imported raw material for 70 per cent duty, as against 120 per cent at present, is also being considered by government. The company is pursuing the proposal foi establishing a coiling project.