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

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SANDVIK ASIA-Improved Sales Performance

HDC Good Working Results HINDUSTHAN DEVELOPMENT CORPORATION (HDC) has shown good working results for the 15-month period ended March 31, 1989, with significant increases in turnover and profits over the previous 12 months. The company has earned a gross profit of Rs 28.47 crore compared to Rs 16.31 crore following a turnover of Rs 221.24 crore against Rs 129.45 crore. These figures also show slightly higher profit margins. Net profit has more than doubled to Rs 11.80 crore (Rs 5.14 crore). Equity dividend has been stepped up by 5 points to 25 per cent and is covered 5.55 times by earnings as against 3.02 times previously. The performance of the company's engineering unit at Calcutta has improved considerably. Its Bamunari plant achieved higher production. The plant has developed steel castings for export to the USSR and has secured prestigious orders from the country. The company's wagon plant at San- tragachi has achieved higher production. The production would have been more but for lack of orders from the Railway Board. The Tiljala plant has received fresh export orders. To improve the track technology and to enable the Indian Railways to achieve much higher speed, a technology upgrada- tion scheme is being studied. The air pollu- The Week's Companies tion control equipment division has received a prestigious order for electro static precipitators (ESP) from Rourkela Steel Plant against stiff competition. The company's engineering division in northern India has achieved higher turnover due to improvement in product mix, although production has not shown any improvement mainly due to recessionary trend in the wire industry. Demand for products of the chemical division at Haldia could not pick up due to inadequate availability of power to the ultimate buyers resulting in restricted utilisation of their plant capacities. The working of the unit was affected because of a substantial increase in the landed cost of raw petroleum coke. Cyanides and Chemicals Company, the company's chemical division at Olpad in Gujarat could not achieve higher production of sodium cyanide due to intermittent interruption in the supply of power. To overcome this problem, the unit has installed an uninterrupted power supply unit with battery back up. The unit has exported sodium cyanide of a FOB value of Rs 324 lakh. The new project for manufacture of diphenyl guanidine has commenced production during the latter half of 1988-89. The HT insulator division at Mandideep in MP has achieved 90 per cent capacity of disc insulators upto 400 KV applications. Produc- tion of solid core and bushing insulators of 220 KV and above is in advanced stage. The (Rs Lakh) unit has commenced the supply against an order of the Andhra Pradesh State Electricity Board for upgradation of 66 KV transmission line to 132 KV line, which is expected to be completed during the current year. The jute division, which took a jute mill on a working arrangement basis with effect from February 1988, has performed satisfactorily.

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