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

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Better Results, Bigger Plans

Better Results, Bigger Plans Hansavivek METAL BOX COMPANY OF INDIA made last year a gross profit of Rs 1.49 crores, as against a loss of Rs 3.03 crores previously. After depreciation, there was a profit of Rs 51 lakhs, compared to a loss of Rs 4 crores. The directors have recommended payment of dividend on preference shares, including payment of arrears for the previous year. After making adjustments, the loss carried forward is reduced to Rs 1.64 crores. The chairman, Bhaskar Mitter, hopes that the process of recovery will be sustained and strengthened in the current year and that the shareholders will not have to wait long for their next dividends. The company has obtained these results following an increase in sales from Rs 38.63 crores to Rs 47.42 crores due to a general rise in demand for the company's products and entry into new markets. Despite rise in raw material prices and higher costs of power and fuel, the company claims it effected a minimal increase in the prices of its products, Exports of the company's own products, and third party sales through its export house, amounted to Rs 1.9 crores against Rs 1.5 crores previously. On the other hand, the company's total expenditure in foreign currencies on imported raw materials and stores, consultancy fees, interest and dividend remittances was less than Rs 49 lakhs. The company is going ahead with its diversification plans. Formalities have been completed for the proposed project for manufacturing offset printing machinery in collaboration with Rolland of West Germany. Work of refurbishing the Number 2 machine-manufacturing factory at Calcutta is being undertaken. The management is hopeful of completing the first stage of the project within the current year. Discussions are also continuing with government and financial institutions about FERA for the company's plans for manufacture of bearings. In the meantime, technical collaboration arrangements have been finalised and are awaiting approval A crash programme for increasing the company's own power-geneTat- ing capacity is under way.

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