KALYANI SHARP INDIA-Growing Competition

dividend rate to 25 per cent.
As part of a restructuring scheme the suitings division of the company has been merged with a group company, namely, Modern Syntex. The rationale behind the merger is that the latter will save a considerable amount on sales tax as it earlier supplied raw material to the suitings division. Further, the merger will also enable Modern Suitings to concentrate on denim manufacture and exports.