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

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Slack demand, Rising Costs

Slack demand, Rising Costs Hansavivek KIRLOSKAR BROTHERS has suffered a sharp setback in its working results on account of the cumulative effect of several adverse factors. 'While demand for pumps was generally good, machine- tools business Mas slack. Business in hermetic compressors also was inadequate due to the continuance of high incidence of excise duty. Profit margins were squeezed between rising cost of production and absence of any corresponding rise in sales realisation. To add to the company's difficulties, workmen at the Kirloskarvadi and Karad factories went on strike and operations at these factories came to a halt for one; month. The company arrived at a settlement of pending disputes with workmen of all the company's factories and offices, which placed on it a burden of over Rs 61 lakhs in 1976-77. This included the burden due to retrospective effect having .been given for periods from 19 months to 24 months to a large number of workmen.

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