VOLTAS-Warmth in Cooling Systems

VOLTAS' plans for restoring profitability and for regaining its position in the Indian corporate sector have made some headway in 1986-87. Sales have increased from previous year's' Rs 272 crore to Rs 330 crore and gross profit has more than doubled to Rs 13.76 crore from Rs 6.52 crore, reflecting a welcome increase in profit margins. Although both depreciation and taxation have taken away bigger slices, net profit is still substantially higher at Rs 6.82 crore (Rs 3.12 crore). Dividend has been stepped up 6 points to 16 per cent and is covered 3.34 times by earnings as against 2.76 times previously. Turnover, profits and order booking of the aircon- ditioning and refrigeration business group improved significantly despite heavy competition in the market. The bus aircondi- tioning system has undergone extensive field tests and is to be marketed widely.