Uttam Galva Steels

Rs 75.65 crore to Rs 93.80 crore and in line gross profit has increased from Rs 3.15 crore to Rs 3.90 crore. Net profit is Rs 1.82 crore (Rs 1.43 crore). Dividend has been raised by a point to 16 per cent and is, covered 2.43 times by earnings against 2.33 times previously. There has been an increase of about 20 per cent in the sale of own manufactured goods. The company's new projects at Mysore in Karnataka for the manufacture of EPABX and electronics products are making satisfactory progress. The commercial production of EPABX is expected to commence shortly. The infrastructural facilities for the company's joint sector projects with GIIC, viz, Gujarat Prime Movers for the manufacture of industrial turbines at Halol in Gujarat and National Switchgears for the manufacture of medium voltage switchgears at Rae Bareli in UP with PICUP, are mostly in place and both the units are expected to commence manufacture of the products in the next few months. Integra Hindustan Control has been set up for implementing the relay and signalling equipment project in collaboration with Integra of Switzerland. The new company has been incorporated in January last. For implementing this project, land has been acquired at Halol in Gujarat and the factory building is under construction.