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

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HCC-Shaky Year

JAY ENGINEERING Export Promise JAY ENGINEERING has shown improved performance for 1986-87 with higher sales and profits. On a turnover of Rs 103,38 crore against Rs 90.72 crore in the previous year, gross profit has increased from Rs 2.58 crore to Rs 3.04 crore. This outcome has resulted from a slight improvement in profit margins. Net profit is Rs 96 lakh (Rs 67 lakh). Dividend has been raised by half a point to 12.5 per cent which is covered 3.14 times by earnings as against 2.30 times previously. Profit would have been 'substantially higher', but for the continuing large-scale losses at the two Calcutta units. Results of Agra works were better than the previous year, but those of Hyderabad Fan works declined on account of disturbed working conditions during negotiations for the new wage settlement. The matter has now been referred by the government to adjudication. Extended power cut during the year also affected the operations adversely. The results of Shriram Diesels fuel injection plant at Hyderabad improved considerably. Production, sales, and profit were better compared to the previous year.

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