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

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Gains of Versatility

Gains of Versatility Hansavivek SHAW WALLACE AND COMPANY has received government approval for setting up an export-oriented unit for leather footwear at Daruhera. a backward location in Haryana. The management envisages promising prospects and expects production to commence by the end of the year. At a later stage, the unit may include leather goods. The company, however, finds it difficult to make any definitive statement regarding Nagarjuna Fertilisers and Chemicals. The company has turned in good working results for 1981, with rise in sales from Rs 108.63 crore to Rs 132.47 crore followed by a gross profit of Rs 6.30 crore against Rs 4.70 crore in the previous year. These figures reflect enhancement of profit margins. Net profit is also higher at Rs 2.48 crore (Rs 1-84 crore). The unchanged dividend of 20 per cent on an enlarged capital is covered 2.03 times', as against 2.25 times previously. The company's sales of fertilisers showed a small quantita tive increase over the previous year. Arrangements have been finalised to increase production capacity of sulphuric acid to 37,000 tonnes per annum by means of improved technology. The enhanced capacity should be operational by the last quarter of the current year. The liquor division once again turned in a fine performance, with a satisfactory rise in sales and profitability. Plans are on hand for launching of a do luxe whiskey later in the year. Meanwhile, a new matured rum has been marketed. Demand for the company's adhesive products dropped substantially due to adverse conditions faced by two of the major consumer industries abrasives and safety matches. The shipping division had a satisfactory year, owing mainly to good support from various principals as well as importers and shippers, The company secured all-India agency of Comptoir Maritime Beige, the well-known Belgian shipping line. Ellerman Lines of UK has recommenced its service. Our of the live members of the COBRA Consortium, which is operating a regular container service between India and the UK/Continent, the company represents Hapag-Lloyd of West Germany and CMB at all India ports, and also Ellermans on the East Coast, Pacific International Lines, Singapore, is another important addition to the list of the company's principals. The company was appointed agent at all ports on the Iast Coast as well as Cochin. It was constrained to give up agency of Hellenic Lines at Bombay port, duo to possible conflict of interests with its other principals. The company has been recognised by IATA as air cargo agent, and a good beginning has already been made in this new activity, S P Acharya, Chairman and Managing Director, expects the 1982 operations to show a satisfactory improvement. The company is still awaiting a 'letter of intent' for a synthetic detergent unit. Other projects are also under close examination.

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