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

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Accent on Overseas Operations

Hansavivek KAMANI ENGINEERING CORPORATION has turned in good results for year ended September 1983. Gross profit has expanded from previous year's Rs 4.96 crore to Rs 6.42 crore following increase in turnover from Rs 50.24 crore to Rs 63.84 crore. These figures also reflect an increase in margins. Since both depreciation and taxation have taken away more, net profit has turned out to be lower at Rs 3.04 crore (Rs 3.26 crore). Equity dividend, maintained at 20 per cent, enjoys a hefty earnings cover of 10.06 times as against 10.80 times previously. Company has allotted gift shares on a one-for-one basis, but these shares will participate in dividend from current year. Despite recession in export and indigenous markets, company has been able to secure orders of about Rs 40 crore for supply and construction of transmission line lowers and line materials. As a part of diversification programme, company has secured an order for specialised civil work of construction of a 150-metre high RCC chimney from Maharashtra State Electricity Board. Work is already in progress. After completing rehabilitation work in respect of mini-steel plant at Bhav- nagar, company commenced production there in June 1983 and produced about 4,000 tonnes of billets.

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