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

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Hi-Tech Diversification

Hi-Tech Diversification

Hi-Tech Diversification? HINDUSTAN LEVER produced excellent working results in 1986 with its sales rising to Rs 842 crore from Rs 707 crore in 1985. Besides making a sizeable profit, the company made two major announcements. It raised the equity dividend from 30 per cent in 1985 to 34 per cent in 1986 and announced one-for-one bonus issue, capitalising Rs 46.66 crore from its general reserve. In the year of all around record performance, the company's pretax profit worked to Rs 65.07 crore against Rs 55.56 crore in 1985. Profit after tax increased smartly to Rs 39.07 crore from Rs 32.56 crore in 1985. According to the company chairman, A S Ganguly the diammonium phosphate fertiliser project at Haldia, West Bengal, stabilised output and in 1986 alone 68,000 tonnes of DAP were sold. Two major plants will be set up in Uttar Pradesh, one at Sumerpur in district Hamir pur, for the manufacture of 30,000 tonnes per annum of detergents; and, the other, at Orai, in district of .lalaun, for the production of 30,000 tonnes per annum of toilet soaps. The company received a letter of intent for a fluid cracking catalyst plant to be set up in its Haldia Chemical Complex and design work was already in hand. It has applied for expansion of synthetic detergents and toilet soaps capacity at the Stepan Chemicals I td's plant in Rajpura, now on lease to it and its plans to acquire 51 per cent equity shares in Stepan Chemicals were nearing completion. The company has recently commissioned a processing facility for hand-knotted carpets at Varanasi, brought in collaborations, and set up equipment at its Kandla tree Trade /one Com plex lor this export business. The company which owns a hatchery for the production of prawn frys would soon set up trial farms with complete infrastructure for the aqua- culture of prawns for exports. The company is still pursuing with the government its application for licence for a 50,000 tonnes per annum linear alkyI benezene (lab) plant, as essential ran material for manufacturing synthetic detergents. The capital outlay on the project was estimated at Rs 140 crore. The company has taken effective steps to implement the 2,000 tonnes per annum plant growth nutrients project at Kasganj, district Hah in UP and has sought government permission to site a 4,000 tonnes per annum high-pressure synthetic resins plant and Ialoja in the district Raigad in Maharashtra. It has been grained approval for setting up an undertaking for hybrid seeds in Rangareddy district in Andhra Pradesh, with a capacity of 20,000 tonnes per annum. As a first step towards acquisition of the detergents undertaking of Union Home Products Limited at Mangalore, Hindustan Lever acquired it on lease. The purchase was expected to be concluded in 1987. According to Ganguly, the company received permissions for leasing a marine products plant at Kanyakumari and three garment units in Maharashtra to undertake production exclusively for exports. In the meantime, steps were in hand to implement the letter of intent for garments and made-ups in the Madras exports processing zone to augment company's exports of these items.

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