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

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ARTSON ENGINEERING-Better Financial Performance

related health care fields from July 1,1985 pursuant to the scheme of arrangement. Its operations cover a wide spectrum of fine chemicals, bulk drugs and medicinal products, including veterinary preparations and animal feed supplements. According to Gautam Sarabhai, chair man, with the technological specialisation that has been achieved following the scheme of arrangement, ASE is once again poised for growth has registerd an increase of over 30 per cent in the turnover during the first half of 1987-88 as compared to the same period of the previous year. The computer division of ASE has vested from July 1,1985 in Sarabhai Electronics specialising in the hi-tech field of computers, peripherals and software support. Super-max and ORG-Systems computers and peripherals, backed by technical and software support are in service with the major public and private sector corporations. Pursuant to the scheme of arrangement, the shareholders of ASE will have the advantage of automatically becoming, without payment, shareholders of a separate company poised for rapid growth, whose shares will be listed on the stock exchange. As a result of the liberalised industrial licensing policy, the company has received approval for penicillin (1000 mmu pa) erythromycin (50 tpa) vitamin C (1000 tpa) doxycycline (5 tpa) insulin and other pharmaceutical preparations. During 1985-86, the company showed a net loss of Rs 2.44 crore on a turnover of Rs 138.35 crore as against a net loss of Rs 9.98 crore on a turnover of Rs 189.37 crore in the previous year which included operations of other divisions which in pursuance of the scheme of arrangement have vested in the company's subsidiaries from July 1, 1985. These figures are, therefore, not comparable.

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