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

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IBP CALTEX-Return to India

equipment during 1992-93. Overall production was higher and production of consumer pack vanaspati was also higher following good market response. The company's new solvent production plant at Nimbahera in Rajasthan, which was commissioned in a record time of nine months, commenced commercial production during the second half of March 1993. Its sanitaryware unit, where a major modernisation-cum-expansion programme is in progress, produced 9,190 mt (7,561 mt) of vitreous china sanitaryware. Phase II of the Rs 13 crore modernisation- cum-expansion programme is to be completed in January 1994 after which the capacity of the unit will stand increased to 18,000 mt. Production at the tiles unit was also higher at 7,606 mt as against 7,255 mt in the previous year and the company plans to up-grade the unit's technology and improve the quality of its products by installing new tunnel kilns, imported press, screen printing machine, etc. The company's exports jumped from Rs 2.9 crore in 1991-92 to Rs 10 crore in 1992-93 and accounted for 8.7 per cent of net sales as against 3.3 per cent last year. It expects exports to be higher in 1993-94 following expansion of its two divisions. The company's debt-equity ratio, which jumped to 159.5 per cent following the issue of 15 per cent partly convertible debentures (PCDs) aggregating Rs 15.75 crore, has improved following conversion of each PCD of Rs 100 into one equity share of Rs 10 at a premium of Rs 55 on

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