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

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GARWARE NYLONS-Expansion Programme

GARWARE NYLONS-Expansion Programme

PREMIER TYRES Rehabilitation Scheme PREMIER TYRES has shown a small improvement in its working during 1986-87 with increase in production of tyres from previous year's 99,477 to 1,10,075 and in sales from Rs 19.84 crore to Rs 23.73 crore. The year's outcome was a lower trading loss of Rs 4.86 crore against Rs 6,56 crore previously. With the fresh loss, accumulated deficit has mounted up to Rs 32.56 crore to stand against share capital of Rs 2.15 crore and reserves of Rs 50 lakh. Production and sales in the first half of the year were restricted due to acute shortage of working capital. The expected inflow of finance commenced in April and continued till September 1987, with the result that production and sales for the quarter July/September 1987, showed remarkable improvement over the previous three quarters. Almost 50 per cent of production and sales for the whole year were achieved only in the last quarter. Industrial relations during the year were fairly satisfactory. The long-term agreement with the labour has expired and negotiations for a fresh agreement are in progress. Since then, though there have been some instances of labour unrest, the management is hopeful of getting co-operation from the labour in reaching an agreement in view of the extremely critical period the company has gone through in the recent past.

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