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

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Strength in Diversity

lakh. Operations for 1978-79 and Strength in Diversity 1979-80, however, have resulted in profits and the company has turned the Hansavivek comer. Rallis' management expects the RALLIS INDIA is pursuing its objective of achieving further growth. It intends to set up a basic pesticklal manufacturing complex in a 'backward' area at Ankleshwar in Gujarat to meet the expected growth of demand for more varied pesticides. Its application for establishing new manufacturing facilities is being considered by the government. The company has also reached agreement with the financial institutions to acquire their shareholdings in Protein Products of India, which ultimately will lead to a greater asset base and profitability of the company. PPI was promoted by the company in collaboration with Rousselot Kuhlmann (now known as Rousselot SA) of France for manufacture of ossein, gelatine and di-calcium phosphate Its paid-up capital is Rs 120 lakh in 9 lakh equity shares and 3 lakh 9.5 per cent preference shares, both of Rs 10 each. Of this, Rallis holds 1,30,000 equity shares, corporations owned by Central/ state governments and a public, financial institution collectively hold 1.81.075 equity shares and 2,75,900 preference shares and the public holds 1,38,900 equity shares. The institutions have, in principle, agreed to sell the equity shareholding in PPI to Rallis at a price of Rs 12.50 per share. Accordingly, two of its subsidiaries, Ralli Machines and W T Suren and Company, have arranged to acquire 72,000 and 12,000 equity shares, respectively. It is intended to purchase 5.36 lakh equity shares of PPI held by the institutions and the public at Rs 12,50 per .share at an aggregate cost of Rs 67 lakh. The proposed investment is considered to be in the interest of the company. The gelatine manufactured by PPI is of high quality catering to the needs of the sophisticated photographic and pharmaceutical industries. The factory's production capacities are being utilised fully and now require expansion for which it holds the necessary licence. In terms of the latest published accounts for the year ended September 1978, PPI has an accumulated loss of about Rs 129 company to earn substantial profits in the coming years to wipe off the loss shortly. Subject to requisite approvals, it is intended in the future to merge PPI with the company.

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